Ceribell, Inc. (CBLL) AI Stock Analysis

• Market Cap: $738.20M
• Dividend Yield: N/A
• Average Volume (3M): 295.27K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.84
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 281
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.36
• Shares Outstanding: 37,095,690
• 10 Day Avg. Volume: 222,948
• 30 Day Avg. Volume: 295,270
• PEG Ratio: 0.26
• Price to Book (P/B): 5.16
• Price to Sales (P/S): 9.00
• P/FCF Ratio: -19.28
• Enterprise Value/Market Cap: 1.00
• Enterprise Value/Revenue: 8.89
• Enterprise Value/Gross Profit: 10.10
• Enterprise Value/Ebitda: -14.98
• 1Y Price Target: $29.00
• Price Target Upside: 45.73% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: $20.00 ▲(0.50% Upside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 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.

Rapid revenue scaling

Consistent double‑digit revenue growth and recent account additions demonstrate commercial traction in hospitals and ICUs. Sustained adoption across product and subscription lines suggests a repeatable sales motion and structural demand that can drive multi‑year expansion if utilization and account adds continue.

Regulatory & TAM expansion

Multiple clearances and Breakthrough Device designation extend the platform into neonatal, delirium and LVO stroke use cases and unlock VA deployment. Regulatory validation plus FedRAMP access materially enlarges the addressable market and supports durable, multi‑indication revenue streams.

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.

Large net losses

Substantial and widening losses mean returns on the now‑larger equity base remain negative. Until operating leverage meaningfully improves, losses will constrain reinvestment capacity, pressure cash runway, and require continued capital raises that can dilute shareholders and complicate long‑term planning.

Elevated OpEx, litigation & tariff risk

Rapidly expanding SG&A and R&D spending, combined with active ITC litigation and tariff exposure, create secular cost pressures and legal uncertainty. These factors can delay breakeven, raise cash needs, and potentially disrupt access or margins in key geographies over the coming quarters.

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 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 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. Additionally, Ceribell may offer subscription-based services for data management and analysis, enhancing patient monitoring capabilities over time. Revenue is also driven by ongoing support, maintenance services, and potential future collaborations with pharmaceutical companies focused on epilepsy treatments. Furthermore, reimbursement from insurance providers for the use of their devices plays a significant role in the company's financial model.

Ceribell, Inc. Financial Statement Overview

Summary

Strong revenue scaling and exceptionally high gross margins (~83%–88%) support product economics, and leverage is modest with improved equity. However, profitability and cash generation remain weak with large net losses (2025 net margin ~-60%) and heavy ongoing cash burn (2025 operating cash flow about -$41M; negative free cash flow).

Income Statement

Revenue is scaling quickly (2025 revenue up ~7.5x vs. 2024; strong multi-year expansion), and gross margins are exceptionally high (~83% to ~88%), suggesting strong product economics. However, profitability remains weak: 2025 net margin is about -60% and EBITDA margin about -66%, with losses widening in absolute dollars (net loss ~-$53M in 2025 vs. ~-$40M in 2024). Overall, strong top-line and unit economics, but the business is still far from breakeven and operating leverage has not yet shown up.

Balance Sheet

Leverage looks modest with low debt relative to equity in 2024–2025 (debt-to-equity ~0.11–0.14), providing financial flexibility. Equity turned meaningfully positive in 2024–2025 after being negative in 2022–2023, which is a major balance-sheet improvement. The key weakness is continued negative returns on equity in 2024–2025 (losses on a now-larger equity base), meaning the stronger capitalization is not yet translating into shareholder value creation.

Cash Flow

Cash burn remains heavy: operating cash flow is negative each year (about -$41M in 2025), and free cash flow is also negative (about -$42M in 2025). While free cash flow improved versus 2024 (less negative), the company is still funding operations through external capital rather than internally generated cash. A positive sign is that cash flow tracks net loss closely (free cash flow roughly in line with net income), but the overall trajectory still reflects significant ongoing cash consumption.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	82.81M	89.06M	65.44M	45.23M	25.92M
Gross Profit	72.87M	78.27M	56.75M	38.16M	21.49M
EBITDA	-49.12M	-51.52M	-37.32M	-26.51M	-35.06M
Net Income	-52.46M	-53.41M	-40.45M	-29.46M	-37.16M
Balance Sheet
Total Assets	199.53M	195.80M	225.41M	58.92M	86.46M
Cash, Cash Equivalents and Short-Term Investments	168.54M	159.26M	194.37M	34.49M	68.23M
Total Debt	21.34M	22.28M	21.96M	14.20M	18.22M
Total Liabilities	35.44M	21.28M	34.25M	171.17M	172.86M
Stockholders Equity	164.08M	155.34M	191.16M	-112.25M	-86.40M
Cash Flow
Free Cash Flow	-41.23M	-41.58M	-36.38M	-30.14M	-32.52M
Operating Cash Flow	-40.16M	-40.81M	-35.04M	-29.16M	-32.00M
Investing Cash Flow	-144.74M	-118.14M	-1.60M	-1.76M	-1.40M
Financing Cash Flow	194.53M	5.05M	196.52M	-2.82M	49.80M

Ceribell, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 19.90
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 19.9 is below the 20-day moving average (MA) of 20.29, below the 50-day MA of 21.26, and above the 200-day MA of 16.28, indicating a neutral trend. The MACD of -0.31 indicates Positive momentum. The RSI at 43.43 is Neutral, neither overbought nor oversold. The STOCH value of 23.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CBLL.

Ceribell, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DCTH	61 Neutral	$351.37M	1,156.98	1.94%	―	251.54%	―
CTKB	58 Neutral	$557.49M	-43.13	-3.36%	―	-2.18%	-30.96%
BFLY	54 Neutral	$745.18M	-8.81	-41.42%	―	16.04%	28.91%
CBLL	52 Neutral	$738.20M	-13.74	-59.78%	―	―	―
VREX	52 Neutral	$564.39M	-8.09	-13.95%	―	4.14%	-45.29%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Ceribell, Inc. Corporate Events

Ceribell Wins FDA Breakthrough Status for LVO Stroke Tool

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 hardware and an AI-based algorithm to identify LVO strokes in hospitalized patients. As a first-in-class point-of-care EEG application for LVO stroke, the designation underscores Ceribell’s strategy to extend its brain-monitoring platform to new, high-acuity indications following recent 510(k) clearances for neonatal seizure detection and delirium monitoring, and highlights the potential to improve outcomes in the sizable and often underserved in-hospital stroke population, where detection delays are associated with significantly higher mortality and long-term disability.

The most recent analyst rating on (CBLL) stock is a Hold with a $22.50 price target. To see the full list of analyst forecasts on Ceribell, Inc. stock, see the CBLL Stock Forecast page.

Ceribell director resigns to pursue other professional ventures

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 member of the Compensation Committee, effective December 31, 2025. The company stated that Iancovici’s departure was driven by his desire to focus on other professional ventures and did not arise from any disagreement over Ceribell’s operations, policies, leadership, or financial reporting, suggesting no immediate governance dispute or operational disruption for stakeholders, while he pledged support for a smooth transition and confirmed he had no outstanding claims against the company.

The most recent analyst rating on (CBLL) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Ceribell, Inc. stock, see the CBLL Stock Forecast page.

Ceribell, Inc. Extends Sunnyvale Office Leases

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 N. Pastoria Ave. to the same date, with a monthly rent of $74,147. These lease extensions indicate Ceribell’s continued commitment to maintaining its operational presence in Sunnyvale, which could provide stability and predictability for its stakeholders.

The most recent analyst rating on (CBLL) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Ceribell, Inc. stock, see the CBLL Stock Forecast page.

Ceribell, Inc. Gains FDA Clearance for Delirium Device

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. This clearance enhances the Ceribell System’s capabilities as an AI-powered brain monitoring platform, addressing a significant unmet need in delirium monitoring and potentially improving patient outcomes by providing continuous, reliable evaluation. The solution’s validation through rigorous studies underscores its reliability, and the clearance follows a Breakthrough Device Designation received in 2022, highlighting its innovative impact on the healthcare industry.

The most recent analyst rating on (CBLL) stock is a Hold with a $20.50 price target. To see the full list of analyst forecasts on Ceribell, Inc. stock, see the CBLL Stock Forecast page.