Nexalin Technology, Inc.

Nexalin Technology, Inc. (NXL) reported FY 2025 revenues of $302K, up 79% YoY from $169K in 2024, driven by increased device sales ($136K vs $56K) and equipment ($89K vs $38K), including related party revenue of $50K. Gross profit rose 82% to $240K, with gross margin improving to 80% from 78%. However, total operating expenses increased 9% to $8.6M, leading to a loss from operations of -$8.4M, up 8% from -$7.8M. Net loss widened slightly to -$8.2M from -$7.6M, with EPS improving to -$0.50 from -$0.83 due to higher shares outstanding (16.4M vs 9.2M). Cash used in operations was -$5.0M, offset by $5.2M financing inflows, resulting in cash increase to $655K and short-term investments of $3.1M. Total assets stood at $4.6M with equity $3.7M. The company advanced FDA interactions for Gen-2 SYNC and Gen-3 HALO devices, but faces going concern doubts amid ongoing losses and Nasdaq compliance issues.

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