Ceribell, Inc. (CBLL)
NASDAQ:CBLL
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Ceribell, Inc.
(NASDAQ:CBLL)
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Rating:52Neutral
Price Target:
$20.00
▲(8.93% Upside)
Action:ReiteratedDate:02/25/26
The score is driven primarily by strong growth and very high gross margins but constrained by persistent losses and material cash burn. Technical signals are mildly bearish (negative MACD; trading below 20/50-day averages), while valuation is limited by negative earnings and no dividend support. The earnings call adds some support via continued growth guidance, regulatory momentum, and a strong cash balance, tempered by OpEx and litigation/tariff risks.
Positive Factors
High gross margins
Sustained mid‑80s gross margins indicate durable unit economics and strong pricing/low variable costs for Ceribell’s EEG system. High margins provide flexibility to invest in sales and R&D while requiring less revenue to cover incremental cost of goods, supporting long‑term scaling.
Negative Factors
Heavy cash burn
Persistent negative operating and free cash flow indicate the company must rely on external capital to fund growth. Continued cash burn over multiple quarters limits flexibility for opportunistic investments and raises dependency on financing dynamics, increasing execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained mid‑80s gross margins indicate durable unit economics and strong pricing/low variable costs for Ceribell’s EEG system. High margins provide flexibility to invest in sales and R&D while requiring less revenue to cover incremental cost of goods, supporting long‑term scaling.
Read all positive factors
Ceribell, Inc. (CBLL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$683.94M
Dividend YieldN/A
Average Volume (3M)315.63K
Price to Earnings (P/E)―
Beta (1Y)0.86
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees281
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.36
Shares Outstanding37,641,228
10 Day Avg. Volume275,556
30 Day Avg. Volume315,628
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)5.16
Price to Sales (P/S)9.00
P/FCF Ratio-19.28
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue7.47
Enterprise Value/Gross Profit8.51
Enterprise Value/Ebitda-13.19
Forecast
1Y Price Target
$29.00Price Target Upside57.95% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-1.46
Revenue Forecast (FY)$112.67M
Ceribell, Inc. Business Overview & Revenue Model
Company Description
CeriBell, Inc. develops AI based point-of-care electroencephalography (EEG) technology for the detection and treatment of neurological conditions. The company develops Ceribell System, a novel, point-of-care EEG platform to address the unmet needs...
How the Company Makes Money
Ceribell generates revenue primarily through the sale of its EEG monitoring devices and associated services. The company has established partnerships with hospitals and healthcare systems that utilize its technology in their neurology departments....
Ceribell, Inc. Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call presented a strong growth story highlighted by double‑digit revenue increases (Q4 +34%, full year +36%), high gross margins (~87%–88%), important regulatory clearances (neonatal/pediatric seizure, delirium 510(k), LVO Breakthrough Device), FedRAMP High approval and an expanded TAM (~$3.5B). These operational and regulatory milestones, plus a solid cash position ($159M), provide a foundation for continued expansion. Counterbalancing these positives are elevated operating expenses (+42% YoY), an increased full-year net loss ($53.4M), tariff-driven margin pressure and near-term litigation costs tied to ITC proceedings. Management’s 2026 guidance is conservative (25%–29% growth) with modest near-term revenue contribution expected from new indications due to sales-cycle timing. On balance, the call emphasized sustained execution and sizable long-term opportunity while acknowledging expected short-term costs and timing risks.Positive Updates
Strong Top-Line Growth
Q4 2025 revenue of $24.8M, up 34% year-over-year; full year 2025 revenue of $89.1M, up 36% year-over-year.
Negative Updates
Operating Expense Expansion
Total operating expenses rose to $36.2M in Q4 2025 (+24% YoY) and $136.7M for full year 2025 (+42% YoY), driven by commercial expansion, headcount, legal and public-company costs.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Top-Line Growth
Q4 2025 revenue of $24.8M, up 34% year-over-year; full year 2025 revenue of $89.1M, up 36% year-over-year.
Read all positive updates
Company Guidance
CeriBell guided 2026 revenue of $111–$115 million (up 25%–29% vs. 2025’s $89.1M, which grew 36% YoY), with modest near‑term contribution from a planned Q2 neonate/pediatric launch and greater upside expected in 2027; it expects gross margins in the mid‑80% range (vs. 87% in Q4 2025 and 88% for FY2025), plans to add more than the 118 accounts added in 2025 (ended 2025 with 647 active accounts after 32 Q4 adds), and to drive higher utilization from roughly 30% penetration in an installed base of >600 hospitals (core seizure market penetration <4% of a $2.5B market; TAM now ~$3.5B); guidance reflects committed VA expansion (additional VA roll‑outs not included), maintains a strong cash position (~$159M at 12/31/25), and contemplates continued product/subscription mix (FY2025: products $67.3M, subscriptions $21.7M; Q4: products $18.8M, subscription $6.0M) while expecting OpEx and legal/timing variability (Q4 OpEx $36.2M; FY OpEx $136.7M) and targeting cash‑flow breakeven over time.Ceribell, Inc. Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
68
Positive
Cash Flow
40
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 89.06M | 65.44M | 45.23M | 25.92M |
| Gross Profit | 78.27M | 56.75M | 38.16M | 21.49M |
| EBITDA | -51.52M | -37.32M | -26.51M | -35.06M |
| Net Income | -53.41M | -40.45M | -29.46M | -37.16M |
Balance Sheet | ||||
| Total Assets | 195.80M | 225.41M | 58.92M | 86.46M |
| Cash, Cash Equivalents and Short-Term Investments | 159.26M | 194.37M | 34.49M | 68.23M |
| Total Debt | 22.28M | 21.96M | 14.20M | 18.22M |
| Total Liabilities | 40.47M | 34.25M | 171.17M | 172.86M |
| Stockholders Equity | 155.34M | 191.16M | -112.25M | -86.40M |
Cash Flow | ||||
| Free Cash Flow | -41.58M | -36.38M | -30.14M | -32.52M |
| Operating Cash Flow | -40.81M | -35.04M | -29.16M | -32.00M |
| Investing Cash Flow | -118.14M | -1.60M | -1.76M | -1.40M |
| Financing Cash Flow | 5.05M | 196.52M | -2.82M | 49.80M |
Ceribell, Inc. Technical Analysis
Negative
18.36
Price Trends
19.36
Negative
19.31
Negative
16.44
Positive
Market Momentum
-0.27
Negative
43.46
Neutral
34.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CBLL, the sentiment is Negative. The current price of 18.36 is below the 20-day moving average (MA) of 18.57, below the 50-day MA of 19.36, and above the 200-day MA of 16.44, indicating a neutral trend. The MACD of -0.27 indicates Negative momentum. The RSI at 43.46 is Neutral, neither overbought nor oversold. The STOCH value of 34.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CBLL.
Ceribell, Inc. Risk Analysis
Ceribell, Inc. disclosed 75 risk factors in its most recent earnings report. Ceribell, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ceribell, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $337.04M | 134.00 | 2.63% | ― | 251.54% | ― | |
55 Neutral | $1.05B | -12.19 | -35.34% | ― | 16.04% | 28.91% | |
52 Neutral | $683.94M | -15.08 | -31.77% | ― | ― | ― | |
52 Neutral | $582.33M | ― | -18.01% | ― | -2.18% | -30.96% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $442.46M | 52.93 | -13.86% | ― | 4.14% | -45.29% |
* Healthcare Sector Average
CBLL
Ceribell, Inc.
18.17
-0.02
-0.11%
DCTH
Delcath Systems
9.70
-1.21
-11.09%
VREX
Varex Imaging
10.56
3.04
40.43%
BFLY
Butterfly Network
4.13
2.06
99.52%
CTKB
Cytek Biosciences
4.52
0.85
23.16%
Ceribell, Inc. Corporate Events
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Ceribell Wins FDA Breakthrough Status for LVO Stroke Tool
Positive
Jan 5, 2026
On January 5, 2026, Ceribell announced that the U.S. Food and Drug Administration granted Breakthrough Device Designation for its Large Vessel Occlusion (LVO) stroke detection and monitoring solution, which uses the company’s existing EEG ha...
Executive/Board Changes
Ceribell director resigns to pursue other professional ventures
Neutral
Jan 2, 2026
On December 30, 2025, Ceribell, Inc. announced that director Lucian Iancovici had notified the board of his decision to resign from the Board of Directors, as well as from his roles as Chair of the Nominating and Corporate Governance Committee and...
Business Operations and Strategy
Ceribell, Inc. Extends Sunnyvale Office Leases
Positive
Dec 12, 2025
On December 11, 2025, Ceribell, Inc. announced amendments to two of its office space leases in Sunnyvale, California. The company extended the lease at 625 N. Pastoria Ave. to January 31, 2028, with a monthly rent of $34,821, and the lease at 360 ...
Business Operations and StrategyProduct-Related Announcements
Ceribell, Inc. Gains FDA Clearance for Delirium Device
Positive
Dec 9, 2025
On December 9, 2025, Ceribell, Inc. announced that the U.S. Food and Drug Administration granted 510(k) clearance for its proprietary delirium monitoring solution, marking it as the first FDA-cleared device for delirium screening and monitoring. T...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.