Electrocore (ECOR) AI Stock Analysis

• Market Cap: $39.18M
• Dividend Yield: N/A
• Average Volume (3M): 65.93K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.62
• Revenue Growth: 27.90%
• EPS Growth: 1.62%
• Country: US
• Employees: 73
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.40
• Shares Outstanding: 7,995,903
• 10 Day Avg. Volume: 41,800
• 30 Day Avg. Volume: 65,932
• PEG Ratio: 0.19
• Price to Book (P/B): 16.08
• Price to Sales (P/S): 4.82
• P/FCF Ratio: -17.46
• Enterprise Value/Market Cap: 1.01
• Enterprise Value/Revenue: 1.32
• Enterprise Value/Gross Profit: 1.54
• Enterprise Value/Ebitda: -3.11
• 1Y Price Target: $18.50
• Price Target Upside: 277.55% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -1.66
• Revenue Forecast (FY): $30.78M

• Rating: 59 Neutral
• Price Target: $5.50 ▲(12.24% Upside)

Electrocore's strong revenue growth and strategic initiatives are promising, but significant profitability challenges and reliance on external financing weigh heavily on the score. Technical indicators suggest a bearish trend, and valuation metrics show limited immediate investor value.

Positive Factors

Revenue Growth

Strong revenue growth indicates successful market penetration and increasing demand for Electrocore's products, supporting long-term business expansion.

Strategic Partnerships

The partnership aims to create new recurring revenue streams, enhancing product offerings and potentially increasing market share in the wellness sector.

VA System Expansion

Expansion in the VA system strengthens Electrocore's market position, providing a stable revenue source and enhancing product credibility.

Negative Factors

Profitability Challenges

Delayed profitability indicates ongoing operational challenges, potentially impacting financial stability and investor confidence in the near term.

Legal Challenges

Legal challenges could lead to increased costs and distract management, potentially affecting the company's ability to focus on growth and innovation.

Negative Cash Flow

Negative cash flow indicates reliance on external financing, which can limit financial flexibility and increase risk if market conditions change.

Electrocore Business Overview & Revenue Model

Company Description

electroCore, Inc., a commercial stage medical device company, engages in the development and commercialization of a range of non-invasive vagus nerve stimulation (nVNS) therapies. The company is developing gammaCore, a prescription-only nVNS therapy for the acute treatment of pain associated with migraine and episodic cluster headache in adults. Its lead product is gammaCore Sapphire, a rechargeable and reloadable handheld device for regular or intermittent use over many years. The company was incorporated in 2005 and is headquartered in Rockaway, New Jersey.

How the Company Makes Money

Electrocore generates revenue primarily through the sale of its gammaCore devices and disposable electrodes, which are used in conjunction with the device. The company operates a direct sales model targeting healthcare providers and patients, and it also engages in partnerships with pharmaceutical companies and healthcare systems to broaden its market reach. Additionally, Electrocore may benefit from reimbursement agreements with insurance providers, which facilitate access to its products for patients and drive sales. The company continually seeks to expand its product pipeline and may explore licensing agreements or collaborations that can provide additional revenue streams.

Electrocore Financial Statement Overview

Summary

Electrocore has demonstrated strong revenue growth, but profitability remains a challenge with negative net income and EBIT margins. The balance sheet shows a high debt-to-equity ratio, and cash flow is negative, indicating reliance on external financing.

Income Statement

Electrocore has shown a consistent growth in revenue over the years, with a notable increase from $2.39 million in 2019 to $25.18 million in 2024. However, the company is still facing significant profitability challenges, as evidenced by negative net income and EBIT margins across the years. Despite the revenue growth, the company has not yet achieved positive net profit margins or EBIT margins, indicating that cost control and operational efficiency are areas for improvement.

Balance Sheet

The company's balance sheet reflects a relatively high level of liabilities compared to its equity, with a debt-to-equity ratio of 0.55 in 2024. Stockholders' equity has remained relatively stable from 2023 to 2024, but the equity ratio has decreased due to a rise in total liabilities. The company maintains a reasonable cash position, which provides some liquidity cushion. However, the consistent negative net income impacts the overall return on equity.

Cash Flow

Electrocore's cash flow situation shows significant negative operating cash flows, indicating that the company has not yet reached a sustainable cash-generating position from its core operations. Free cash flow has improved slightly but remains negative, suggesting that the company is still reliant on external financing to support its operations and growth. The operating cash flow to net income ratio is poor due to persistent negative earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	29.84M	25.18M	16.03M	8.59M	5.45M	3.50M
Gross Profit	25.67M	21.40M	13.23M	6.98M	4.07M	1.76M
EBITDA	-12.68M	-10.90M	-17.76M	-22.28M	-19.66M	-23.88M
Net Income	-14.16M	-11.89M	-18.83M	-22.16M	-17.22M	-23.51M
Balance Sheet
Total Assets	21.41M	20.47M	16.10M	24.76M	42.83M	31.52M
Cash, Cash Equivalents and Short-Term Investments	13.20M	11.97M	10.33M	17.71M	34.69M	22.63M
Total Debt	10.81M	4.14M	626.00K	699.00K	761.00K	2.83M
Total Liabilities	22.48M	12.93M	8.66M	7.67M	6.18M	7.87M
Stockholders Equity	-1.07M	7.54M	7.44M	17.09M	36.65M	23.01M
Cash Flow
Free Cash Flow	-7.97M	-6.95M	-14.87M	-16.64M	-13.63M	-20.05M
Operating Cash Flow	-7.90M	-6.95M	-14.67M	-16.64M	-13.63M	-20.05M
Investing Cash Flow	2.86M	-8.52M	-206.00K	0.00	18.22M	-7.96M
Financing Cash Flow	8.04M	8.44M	7.49M	0.00	25.68M	18.90M

Electrocore Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ECOR, the sentiment is Negative. The current price of 4.9 is below the 20-day moving average (MA) of 5.28, below the 50-day MA of 5.11, and below the 200-day MA of 6.72, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 48.01 is Neutral, neither overbought nor oversold. The STOCH value of 35.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ECOR.

Electrocore Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ECOR	59 Neutral	$39.18M	―	-337.84%	―	27.90%	1.62%
NMTC	53 Neutral	$36.14M	-4.57	-95.39%	―	145.48%	67.36%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
VVOS	48 Neutral	$17.71M	-1.26	-335.47%	―	18.76%	60.09%
MYO	44 Neutral	$33.19M	―	-100.51%	―	64.99%	-25.54%
ADGM	37 Underperform	$17.79M	―	-210.36%	―	-70.54%	70.03%

Electrocore Corporate Events

ElectroCore’s Earnings Call: Growth Amid Challenges

ElectroCore’s Latest Earnings Call: A Mixed Bag of Growth and Challenges

ElectroCore Reports Increased Sales Amidst Continued Losses

ElectroCore, Inc. is a bioelectronic technology company focused on improving health and quality of life through non-invasive bioelectronic technologies, primarily operating in the medical device industry. The company recently released its earnings report for the quarter ending September 30, 2025, highlighting significant financial developments. ElectroCore reported net sales of $8.7 million for the quarter, an increase from $6.6 million in the same period last year, driven by growth in both prescription devices and health and wellness products. Despite the increase in sales, the company posted a net loss of $3.4 million, reflecting higher operating expenses. The company continues to focus on expanding its market presence and improving its financial position through strategic investments and partnerships. Looking ahead, ElectroCore’s management remains committed to enhancing its product offerings and exploring new market opportunities to drive future growth.

Electrocore Finalizes Stock Sale to Settle Legal Fees

On September 30, 2025, Electrocore, Inc. entered into securities purchase agreements with institutional and accredited investors for the sale of 360,737 shares of common stock to settle outstanding legal fees. The transaction, which closed on October 2, 2025, did not involve cash proceeds and the shares were issued under exemptions from registration, with plans to file a registration statement for resale within 90 days.

The most recent analyst rating on (ECOR) stock is a Hold with a $5.50 price target. To see the full list of analyst forecasts on Electrocore stock, see the ECOR Stock Forecast page.

Electrocore Expands Board with New Appointments

On September 2, 2025, electroCore, Inc. appointed Elena Bonfiglioli as a new Class II member of its Board of Directors, expanding the Board from seven to eight members. Bonfiglioli, a seasoned healthcare executive with extensive experience at Microsoft, is expected to bring valuable insights into AI transformation and strategic partnerships in the health sector. Additionally, Thomas J. Errico, M.D., was appointed as the new chairman of the Board, succeeding F. Peter Cuneo following his retirement. The company’s annual meeting also included votes on several proposals, including the election of three Class I Directors and the ratification of CBIZ CPAs as the independent registered public accounting firm. However, a proposal to declassify the Board did not pass due to insufficient votes.

The most recent analyst rating on (ECOR) stock is a Hold with a $5.50 price target. To see the full list of analyst forecasts on Electrocore stock, see the ECOR Stock Forecast page.

ElectroCore’s Earnings Call: Record Revenue Amid Challenges

ElectroCore’s recent earnings call presented a balanced view of the company’s current performance, highlighting both positive achievements and notable challenges. The company reported record revenue and strong growth in its VA channel, signaling promising developments. However, the sequential decline in Truvaga sales and an increased net loss underscore the hurdles ElectroCore faces. Strategic investments are being made to accelerate growth, though these may delay the path to profitability.

Electrocore Reports Strong Revenue Growth in Q2 2025

Electrocore, Inc. is a commercial-stage bioelectronic technology company specializing in non-invasive neuromodulation therapies for chronic pain and wellness, leveraging innovative bioelectronic technologies.