Key Highlights

  • Total Revenue was USD 29.3 million versus USD 22.6 million, with product revenue of USD 22.2 million versus 17.0 million.
  • Subscription revenue was USD 7.1 million versus USD 5.6 million, and Gross Profit was USD 26.3 million versus 19.9 million.
  • Operating loss was USD 20.5 million versus 14.6 million, and operating expenses were USD 46.9 million versus 34.6 million.
  • The net loss was USD 21.4 million versus 13.5 million, and the loss per share was USD 0.55 versus 0.37.

Revenue and Gross Profit

CeriBell, Inc. (NASDAQ:CBLL), a medical technology company that developed the Ceribell System, a point-of-care EEG platform for acute care settings, filed its Quarterly Report for the period ended September 30, 2026. Total revenue was USD 29,341 thousand, compared with USD 22,589 thousand in the third quarter of 2025.

Product revenue was USD 22,235 thousand versus USD 17,020 thousand, and subscription revenue was USD 7,106 thousand versus USD 5,569 thousand. For the nine months, total revenue was USD 83,933 thousand versus USD 64,279 thousand, with product revenue of USD 63,667 thousand and subscription revenue of USD 20,266 thousand.

Total cost of revenue was USD 3,001 thousand versus USD 2,647 thousand. Gross profit was USD 26,340 thousand versus USD 19,942 thousand, a gross Margin of 90% versus 88%. Product gross profit was USD 19,577 thousand at an 88% product gross margin, and subscription gross profit was USD 6,763 thousand at a 95% subscription gross margin versus 97%.

Analyst estimates were EPS of negative USD 0.51 against reported EPS of negative USD 0.55, and revenue of USD 29.2 million against reported revenue of USD 29.3 million.

Operating Expenses and Net Loss

Research and development expense was USD 7,403 thousand versus USD 4,983 thousand. Sales and Marketing expense was USD 25,032 thousand versus USD 18,569 thousand, and general and administrative expense was USD 14,453 thousand versus USD 11,037 thousand.

Total operating expenses were USD 46,888 thousand versus USD 34,589 thousand, and the loss from operations was USD 20,548 thousand versus USD 14,647 thousand. Interest expense was USD 267 thousand versus USD 480 thousand, and other expense, net, was USD 536 thousand compared with other income, net, of USD 1,662 thousand.

The net loss was USD 21,351 thousand versus USD 13,465 thousand. Basic and diluted net loss per share was USD 0.55 versus USD 0.37, on 38,500,027 weighted-average shares versus 36,806,918. For the nine months, the net loss was USD 60,357 thousand versus USD 39,885 thousand, or USD 1.59 per share versus USD 1.10.

Cash, Securities and Regulatory Updates

Cash and cash equivalents were USD 41,989 thousand at September 30, 2026, compared with USD 40,476 thousand at December 31, 2025, and marketable securities were USD 75,478 thousand versus USD 118,785 thousand. Accounts receivable, net, were USD 17,792 thousand versus USD 15,053 thousand.

Net cash used in Operating Activities for the nine months was USD 45,238 thousand versus USD 30,034 thousand. Proceeds from maturities of marketable securities were USD 117,500 thousand versus USD 45,500 thousand, and purchases of marketable securities were USD 88,335 thousand versus USD 188,775 thousand.

The company reported FDA 510(k) clearance in December 2025 for its Delirium Monitor System, clearance in June 2026 for two neurology algorithms, EEG Artifact Reduction and Epileptiform Abnormality Detection, along with its next-generation hardware platform, and clearance in September 2026 for Quantitative EEG Trending and Amplitude-Integrated EEG Analysis software.

Items to Follow

Investors can follow product revenue, which was USD 22,235 thousand in the quarter, and subscription revenue of USD 7,106 thousand, along with the subscription gross margin, which was 95% versus 97% a year earlier.

Other items include Operating Expense growth, with Research and Development at USD 7,403 thousand, the FDA-cleared next-generation hardware platform, and the level of marketable securities.