electroCore Reports 27% Revenue Growth but Faces Leadership Transition
Event summary
- electroCore reported $32.0M in 2025 revenue, up 27% YoY, driven by 25% growth in U.S. prescription sales and 97% surge in general wellness sales.
- CEO Dan Goldberger to retire April 1, 2026; Joshua Lev named interim President and CFO, Michael Fox hired as COO.
- Company guided for 30% revenue growth in 2026 but ended 2025 with $11.6M in cash, down from $12.2M in 2024.
- GAAP net loss widened to $14.0M in 2025 from $11.9M in 2024, though adjusted EBITDA loss narrowed slightly.
The big picture
electroCore's strong revenue growth reflects demand for non-invasive neuromodulation, but leadership changes and cash burn raise execution risks. The company's ability to scale general wellness sales while maintaining prescription growth will be critical amid a competitive bioelectronic technology landscape.
What we're watching
- Leadership Transition
- Whether interim President Joshua Lev can sustain growth momentum amid CEO turnover and organizational changes.
- Revenue Diversification
- The pace at which general wellness sales (up 97%) can offset declines in TAC-STIM (-65%) and international markets (up 6%).
- Cash Burn Dynamics
- How electroCore will manage its $11.6M cash position against 30% revenue growth guidance and widening net losses.
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