ECOR · electroCore, Inc.

electroCore delivered strong top-line momentum in Q1 FY2026, with revenue reaching $9.6 million, up 42.6% from $6.7 million in the prior-year quarter. This growth stems primarily from increased net sales of prescription gammaCore to the VA, contributions from Quell Fibromyalgia products acquired from NEURO in May 2025 and also sold to the VA, and revenue from nonprescription Truvaga general wellness products, as noted in Management's Discussion. Gross profit accordingly climbed 46.6% to $8.4 million, achieving an industry-leading 87.3% margin versus prior periods, which underscores a favorable shift toward higher-margin device sales and efficient cost of goods management.

Despite revenue acceleration, operating income deteriorated to a -$5.3 million loss from -$3.8 million year-over-year, reflecting a -39.1% change and -55.5% operating margin. The Company has experienced significant net losses and expects to continue incurring them in the near future while working to increase market acceptance of its prescription devices and general wellness products. Net income followed suit at -$5.3 million, 36.7% worse than -$3.9 million last year, with diluted EPS at -$0.59 compared to -$0.47. These dynamics highlight the trade-off between growth investments and near-term profitability as electroCore expands its product portfolio and channels.