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Shares of NeurAxis, Inc. (NRXS) rose 2.5% following the company’s Q1 2026 earnings report, surpassing the S&P 500’s 1.3% increase. NeurAxis reported Q1 revenues of $1.6 million, a 79.5% year-over-year increase, driven by greater insurance reimbursement after the Jan. 1 implementation of a new CPT code. The net loss improved to $1.8 million, or $0.18 per share, from a $2.3 million loss or $0.33 per share a year earlier.
Key operational metrics revealed strong trends: the average selling price of IB-Stim devices climbed 33% year-over-year to $1,017, and unit deliveries increased by 32-35%. NeurAxis had 66 ordering accounts this quarter, up from 56 last year, with revenue per account rising 53% to $24,000. Cash and equivalents rose to $7.1 million from $4.9 million at the end of 2025, aided by subsequent fundraising efforts totaling $2.1 million.
Management expressed optimism regarding ongoing growth, focusing on expanding medical policy coverage among major commercial payers and the Veterans Affairs healthcare system. NeurAxis has also initiated a randomized controlled trial with Cleveland Clinic and Stanford University aimed at assessing its products for adults, alongside advancements in FDA clearances for wider patient age eligibility.
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