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Ceribell, Inc. (CBLL)
NASDAQ:CBLL
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Ceribell, Inc.
(NASDAQ:CBLL)
Rating:52Neutral
Price Target:
$16.00
▼( -3.50% Downside)
Positive Factors
Financial Guidance
The company raised its full-year revenue guidance to a range of $83M to $87M, which implies growth of 27% to 33%.
Product Launches
Further catalysts expected to contribute to strong growth include Pediatric/Neonate launches and FedRAMP authorization for further VA penetration.
Revenue Growth
CBLL delivered a strong 1Q outperformance with a revenue increase of 42%.
Negative Factors
Cost Pressures
Potential headwinds from incremental tariffs are not expected to impact margins until the fourth quarter.
Manufacturing Challenges
The company is assessing all potential options for manufacturing relocation, including moving to Mexico or other geographies in Asia.
Tariff Impact
Tariffs of 145% on Chinese imports would decrease Ceribell’s gross margins by about 10 percentage points, impacting the company's profitability.
Ceribell, Inc. (CBLL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$599.25M
Dividend YieldN/A
Average Volume (3M)436.99K
Price to Earnings (P/E)―
Beta (1Y)0.80
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees281
SectorHealthcare
Sector Strength42
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.36
Shares Outstanding36,143,020
10 Day Avg. Volume363,190
30 Day Avg. Volume436,993
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)3.63
Price to Sales (P/S)0.00
P/FCF Ratio-21.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$31.80Price Target Upside91.80% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
Ceribell, Inc. Business Overview & Revenue Model
Company DescriptionCeriBell, 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 of patients in the acute care setting. It also offers EEG disposable headbands; and pocket-sized battery-operated recorders. The company was formerly known as Brain Stethoscope, Inc. and changed its name to CeriBell, Inc. in August 2015. The company was incorporated in 2014 and is based in Sunnyvale, California.
How the Company Makes MoneyCeribell, Inc. generates revenue primarily through the sale and leasing of its Rapid Response EEG systems to hospitals and healthcare facilities. The company also earns income from providing related services such as training, maintenance, and support for its devices. Additionally, Ceribell may enter into strategic partnerships with medical institutions and research organizations to further expand its market reach and enhance product offerings, contributing to its revenue streams.
Ceribell, Inc. Financial Statement Overview
Summary
Ceribell, Inc. shows strong revenue growth but struggles with profitability and cash flow management. The company has improved its financial position with significant equity increases and low leverage, but operational inefficiencies and dependency on external financing pose risks.Income Statement
Ceribell, Inc. shows solid revenue growth of 44.7% from 2023 to 2024, highlighting strong demand for their products. However, the company is operating at a loss with a negative net profit margin, and EBIT and EBITDA margins indicate inefficiencies. Gross profit margins are strong at approximately 86.7% for 2024, signifying good production cost management but are overshadowed by the high operating expenses.45
Neutral
Balance Sheet
The company's equity has significantly improved from negative to a strong positive position in 2024, indicating strong financial backing or recent capital infusion. The debt-to-equity ratio is low due to high equity, showcasing low leverage risk. However, the equity ratio is high at 84.8%, reflecting a stable asset base primarily funded by equity.60
Neutral
Cash Flow
Ceribell's free cash flow is negative but has shown improvement from 2023. The high operating cash outflows are concerning, relative to the negative net income, indicating cash management issues. A significant financing cash flow in 2024 suggests reliance on external funding to cover operational deficits.50
Neutral
| Breakdown | ||
| Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|
| Income Statement | Total Revenue | |
| 65.44M | 45.23M | 25.92M | Gross Profit |
| 56.75M | 38.16M | 21.49M | EBIT |
| -39.71M | -30.04M | -36.02M | EBITDA |
| -37.71M | -26.51M | -35.06M | Net Income Common Stockholders |
| -40.45M | -29.46M | -37.16M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |
| 194.37M | 34.49M | 68.23M | Total Assets |
| 225.41M | 58.92M | 86.46M | Total Debt |
| 21.96M | 14.20M | 18.22M | Net Debt |
| -172.41M | -20.29M | -50.02M | Total Liabilities |
| 34.25M | 171.17M | 172.86M | Stockholders Equity |
| 191.16M | -112.25M | -86.40M |
| Cash Flow | Free Cash Flow | |
| -36.38M | -30.14M | -32.52M | Operating Cash Flow |
| -35.04M | -29.16M | -32.00M | Investing Cash Flow |
| -1.60M | -1.76M | -1.40M | Financing Cash Flow |
| 196.52M | -2.82M | 49.80M |
Ceribell, Inc. Risk Analysis
Ceribell, Inc. disclosed 79 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
Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $649.61M | 33.03 | 23.81% | 1.19% | 11.04% | 9.84% | |
53 Neutral | $5.14B | 3.03 | -43.89% | 2.83% | 16.75% | -0.06% | |
52 Neutral | $569.26M | 45.80 | -36.78% | ― | 1.34% | -530.36% | |
52 Neutral | $504.17M | ― | -7.22% | ― | 18.81% | 67.41% | |
52 Neutral | $536.62M | ― | -29.16% | ― | 25.77% | 49.44% | |
52 Neutral | $599.25M | ― | 26.25% | ― | ― | ― | |
43 Neutral | $637.19M | ― | -11.98% | ― | 46.69% | 46.68% |
* Healthcare Sector Average
Performance Comparison
CBLL
Ceribell, Inc.
16.58
-8.92
-34.98%
AXGN
AxoGen
11.07
4.43
66.72%
IRMD
Iradimed
51.09
8.48
19.90%
AVNS
Avanos Medical
12.31
-7.89
-39.06%
BFLY
Butterfly Network
2.17
1.14
110.68%
RXST
RxSight
15.68
-45.28
-74.28%
Ceribell, Inc. Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: -3.04%|
Next Earnings Date:Nov 18, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant revenue growth, high gross margins, expansion of active accounts, and important regulatory achievements, such as FDA clearance and FedRAMP authorization. However, the increase in operating expenses and net loss, along with potential impacts from increased tariffs, present challenges. Despite these lowlights, the positive aspects, including strategic achievements and financial growth, suggest a confident outlook.Q1-2025 Updates
Positive Updates
Strong Revenue Growth
CeriBell, Inc. reported total revenue of $20.5 million for Q1 2025, marking a 42% increase over the same period last year and an 11% increase over Q4 2024.
High Gross Margin
The company achieved a gross margin of 88% in Q1 2025, compared to 86% in the prior year period, indicating strong profitability.
Expansion of Active Accounts
The company increased its active accounts to 558 as of March 31, 2025, adding 29 new accounts in Q1, including the integration of its clarity algorithm in VA hospitals.
FDA Clearance and Product Expansion
CeriBell, Inc. received FDA 510(k) clearance for its Clarity algorithm for seizure detection in pediatric patients, expanding the addressable patient population significantly.
FedRAMP High Authorization Achieved
CeriBell, Inc. received FedRAMP high authorization from the US government, validating its cybersecurity standards and enabling use by other government agencies.
Negative Updates
Increased Operating Expenses
Total operating expenses for Q1 2025 were $32.2 million, a 55% increase from the same period in 2024, primarily due to expanded commercial operations and increased headcount.
Net Loss Increased
The company reported a net loss of $12.8 million for Q1 2025, compared to a loss of $8.5 million in Q1 2024, influenced by higher operating expenses.
Potential Tariff Impact
The company anticipates potential impacts on gross margins due to increased tariffs on goods imported from China, though mitigation strategies are in place.
Company Guidance
In the CeriBell, Inc. Q1 2025 earnings call, the company reported a robust start to the year with total revenue of $20.5 million, marking a 42% increase compared to the same period last year. The company experienced 88% gross margin, reflecting its strategic success in account acquisition and utilization. CeriBell added 29 new accounts, reaching a total of 558 active accounts, including its first cohort of VA hospitals. The company also received FedRAMP high authorization, enhancing its cybersecurity credentials. For 2025, CeriBell raised its revenue guidance to $83-$87 million, reflecting an annual growth of 27% to 33%. Despite potential tariff impacts, the company expects to maintain gross margins in the mid-80% range, leveraging its U.S. inventory and cost reduction strategies. The company is also confident in reaching cash flow breakeven with its current cash on hand, totaling $182.7 million as of March 31, 2025.Ceribell, Inc. Corporate Events
Business Operations and StrategyFinancial Disclosures
Ceribell, Inc. Addresses Impact of New U.S. Tariffs
Neutral
Apr 11, 2025
Ceribell, Inc. has addressed the potential impact of newly announced U.S. tariffs on goods imported from China, which affect the company’s headband product manufactured by Chinese contractors. The company anticipates no significant financial impact from these tariffs until the fourth quarter of 2025 due to existing inventory, but expects an 8 to 10 percentage point reduction in gross margins once current inventory is depleted. The tariffs are not expected to affect the cost of revenue from subscription products.
Executive/Board Changes
Ceribell, Inc. Announces Executive Compensation Adjustments
Neutral
Mar 14, 2025
On March 10, 2025, Ceribell, Inc. announced adjustments to the compensation packages of its top executives, effective April 1, 2025. The Board of Directors approved increases in the annual base salaries and target annual incentives for CEO Xingjuan (Jane) Chao, CFO Scott Blumberg, and CTO Raymond Woo, reflecting the company’s commitment to retaining key leadership.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.