Ceribell, Inc. (CBLL)
NASDAQ:CBLL
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Ceribell, Inc.
(NASDAQ:CBLL)
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Rating:49Neutral
Price Target:
$18.00
▼(-1.96% Downside)
Action:Reiterated
Date:05/14/26
The score is held back primarily by persistent losses and heavy cash burn despite strong revenue growth and high gross margins. Technical indicators also show weak momentum. These are partially offset by constructive earnings-call signals (raised guidance, strong Q1 execution, and solid liquidity) and a valuation profile that is difficult to assess due to negative earnings.
Positive Factors
Strong revenue growth & account adds
Sustained ~29% YoY growth and raised guidance reflect durable commercial traction across hospitals. Large quarterly net adds (680 hospitals, +33 net) and repeated utilization gains indicate expanding clinical adoption that should drive recurring device and consumable demand over the next 2–6 months and beyond.
Negative Factors
Persistent negative operating cash flow
Operating cash flow has been consistently negative and free cash flow tracks losses, indicating cash burn is operationally driven rather than a one-time accounting distortion. Continued negative OCF increases dependency on external funding and raises dilution and execution risk until breakeven is achieved.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth & account adds
Sustained ~29% YoY growth and raised guidance reflect durable commercial traction across hospitals. Large quarterly net adds (680 hospitals, +33 net) and repeated utilization gains indicate expanding clinical adoption that should drive recurring device and consumable demand over the next 2–6 months and beyond.
Read all positive factors
Ceribell, Inc. (CBLL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$629.09M
Dividend YieldN/A
Average Volume (3M)265.67K
Price to Earnings (P/E)―
Beta (1Y)0.94
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees281
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-1.63
Shares Outstanding37,942,700
10 Day Avg. Volume244,220
30 Day Avg. Volume265,666
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 Cap1.05
Enterprise Value/Revenue6.98
Enterprise Value/Gross Profit7.96
Enterprise Value/Ebitda-11.20
Forecast
1Y Price Target
$28.50Price Target Upside55.23% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-1.7
Revenue Forecast (FY)$113.99M
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
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Ceribell, Inc. Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call presented strong commercial momentum and robust top-line growth (29% YoY revenue, record account additions, high 87% gross margin), alongside several strategic milestones (neonate/pediatric launches, delirium pilot with FDA clearance, favorable NTAP proposal, LVO Breakthrough designation) and a healthy cash position. Offsetting these positives are elevated operating expenses (+36% YoY), significant near-term litigation costs ($5.6M in Q1), a wider net loss ($19.7M), and continued adjusted EBITDA losses. Given the combination of accelerating revenue/market expansion and manageable but notable near-term expense pressures, the tone is constructive with near-term investment-driven profitability headwinds.Positive Updates
Strong Top-Line Growth
Total revenue of $26.5M in Q1 2026, up 29% year-over-year and 7% sequentially; full-year 2026 revenue guidance raised to $112M–$116M (up from $111M–$115M), implying 26%–30% growth over 2025.
Negative Updates
Rising Operating Expenses
Total operating expenses were $43.9M in Q1 2026, a 36% increase year-over-year (from $32.2M), driven by higher sales & marketing and R&D investments to support commercial expansion and product development.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Top-Line Growth
Total revenue of $26.5M in Q1 2026, up 29% year-over-year and 7% sequentially; full-year 2026 revenue guidance raised to $112M–$116M (up from $111M–$115M), implying 26%–30% growth over 2025.
Read all positive updates
Company Guidance
CeriBell raised full‑year 2026 revenue guidance to $112–$116 million (up from $111–$115M), implying 26%–30% growth over 2025, after a strong Q1: revenue $26.5M (+29% YoY, +7% sequential) comprised of product $20.2M and subscription $6.3M (both +29% YoY), with 680 hospitals (+33 net adds) and record headband utilization; Q1 gross margin was 87% (vs. 88% LY) and management expects to sustain gross margins in the high‑80% range in 2026 despite elevated China tariffs as Vietnam manufacturing ramps; Q1 operating expense was $43.9M (+36%), net loss $19.7M (‑$0.52/sh; avg. 37.7M shares), adjusted EBITDA loss $11.2M, cash and marketable securities $141.2M, TAM ≈ $3.5B, and key catalysts include a proposed NTAP of up to $2,171/patient (final rule Aug ’26, effective 10/1/26) and full delirium launch targeted Q4 ’26–Q1 ’27.Ceribell, Inc. Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
64
Positive
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 95.07M | 89.06M | 65.44M | 45.23M | 25.92M |
| Gross Profit | 83.39M | 78.27M | 56.75M | 38.16M | 21.49M |
| EBITDA | -59.25M | -51.52M | -37.32M | -26.51M | -35.06M |
| Net Income | -60.37M | -53.41M | -40.45M | -29.46M | -37.16M |
Balance Sheet | |||||
| Total Assets | 178.08M | 195.80M | 225.41M | 58.92M | 86.46M |
| Cash, Cash Equivalents and Short-Term Investments | 141.18M | 159.26M | 194.37M | 34.49M | 68.23M |
| Total Debt | 22.12M | 22.28M | 21.96M | 14.20M | 18.22M |
| Total Liabilities | 37.27M | 40.47M | 34.25M | 171.17M | 172.86M |
| Stockholders Equity | 140.81M | 155.34M | 191.16M | -112.25M | -86.40M |
Cash Flow | |||||
| Free Cash Flow | -49.60M | -41.58M | -36.38M | -30.14M | -32.52M |
| Operating Cash Flow | -48.85M | -40.81M | -35.04M | -29.16M | -32.00M |
| Investing Cash Flow | -66.09M | -118.14M | -1.60M | -1.76M | -1.40M |
| Financing Cash Flow | 6.83M | 5.05M | 196.52M | -2.82M | 49.80M |
Ceribell, Inc. Technical Analysis
Negative
18.36
Price Trends
19.15
Negative
19.93
Negative
16.86
Positive
Market Momentum
-0.79
Positive
37.44
Neutral
15.19
Positive
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 19.39, below the 50-day MA of 19.15, and above the 200-day MA of 16.86, indicating a neutral trend. The MACD of -0.79 indicates Positive momentum. The RSI at 37.44 is Neutral, neither overbought nor oversold. The STOCH value of 15.19 is Positive, 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 76 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | $382.85M | -78.10 | 0.51% | ― | 67.95% | ― | |
52 Neutral | $1.00B | -20.44 | -36.79% | ― | 20.20% | -0.81% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $629.09M | -8.74 | -38.19% | ― | ― | ― | |
47 Neutral | $408.37M | -13.58 | -17.61% | ― | 3.63% | -93.57% | |
47 Neutral | $458.46M | -7.45 | -20.77% | ― | 3.61% | -568.29% |
* Healthcare Sector Average
CBLL
Ceribell, Inc.
18.10
0.55
3.13%
DCTH
Delcath Systems
11.23
-6.01
-34.86%
VREX
Varex Imaging
10.13
2.49
32.59%
BFLY
Butterfly Network
4.39
2.23
103.24%
CTKB
Cytek Biosciences
3.77
1.29
52.02%
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.