Neuroone Medical Technologies (NMTC) Q2 2026 earnings summary

Executive summary

• Achieved 72% year-over-year product revenue growth in Q2 FY2026, reaching $2.4 million, driven by OneRF Brain Ablation System sales and strong clinical adoption.

• Completed a limited market release of the OneRF Trigeminal Nerve Ablation System in March 2026, with 16 successful cases and all patients pain free post-procedure.

• Regained Nasdaq compliance after a 1-for-6 reverse stock split and welcomed a high-net-worth investor who acquired 7.4% of outstanding shares.

• Appointed David Wambeke as Chief Business Officer and announced CFO transition to Chris Volker effective July 1, 2026.

• Collaboration with University of Minnesota to advance epilepsy therapies using sEEG-based platform.

Financial highlights

• Q2 FY2026 product revenue: $2.4M, up 72% YoY; six-month revenue: $5.3M, up 13% YoY; no license revenue in FY2026 vs. $3.0M prior year.

• Product gross profit in Q2: $1.3M (53.8% margin), compared to $0.8M (55.6%) YoY; six-month gross profit: $2.9M (54.0% margin), down from 57.9% YoY.

• Net loss in Q2 FY2026: $2.1M ($0.25/share), improved from $2.3M ($0.44/share) YoY; six-month net loss: $3.5M, compared to $0.5M prior year.

• Cash and equivalents at March 31, 2026: $2.8M; working capital: $5.7M; no debt.

• Accounts receivable of $2.4M expected to convert to cash in Q3 FY2026.

Outlook and guidance

• FY2026 product revenue guidance remains $10.5M, excluding contributions from drug delivery and facial pain products.

• Drug delivery system expected to be commercially available for investigational use in H2 FY2026.

• International expansion targeted for late 2026, pending ISO 13485 certification.

• Management expects continued operating losses until commercial sales cover expenses; current cash and anticipated revenue expected to fund operations through September 2026, but substantial doubt exists about ability to continue as a going concern without additional capital.

• Actively seeking additional funding through equity, debt, or partnerships.