CeriBell, Inc. (CBLL) Stock

CeriBell, Inc. (CBLL) is a Healthcare stock trading at $24.28 (as of 2026-08-20), with a market capitalization of $931.82M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

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.

Understand CeriBell, Inc.: how it makes money

CeriBell develops an AI-based point-of-care EEG platform (Ceribell System) for neurological detection, and makes money by selling the system and related EEG disposables/recorders, plus earning subscription revenue tied to using the platform.

The core profit engine appears to be scaling hospital adoption of the Ceribell System, which drives product revenue plus a recurring subscription component, but large operating losses suggest the company needs meaningful scale to cover its ongoing costs.

Revenue by segment (latest quarter)
Product	$0.0B
Subscription	$0.0B
Other	$0.0B

Business quality (Weak): Strong gross margin and clear adoption KPIs are positives, but the latest quarter shows a very large operating loss, so investors will likely focus on whether active hospital usage and net new accounts keep growing fast enough to improve operating economics.

Bull case

Adoption is measurable, with 680 hospital accounts actively using the Ceribell System: This suggests the platform is getting embedded in acute care workflows rather than being purely one-off equipment sales.
The revenue mix includes both Product Revenue and Subscription Revenue: If the hospital base expands, the recurring portion can become an important lever for improving operating results over time.

Bear case

The latest quarter operating margin is -78.3%: High operating costs are overwhelming gross profit, so scaling alone may not be sufficient if expenses do not fall as revenue grows.
Total revenue shown for the quarter is 0.0B in the provided data: With such small absolute sales, progress in operating leverage may be hard to demonstrate even with improvements in adoption KPIs.
Subscription and other revenue are small relative to the overall model: If recurring revenue does not grow alongside active usage, the platform may remain dependent on product sales to drive revenue.

Valuation — source: SEC EDGAR (first-party)
Price	$24.28
Market Cap	$931.82M
Price / Book	7.26
Price / Sales	8.99
FCF Yield	-10.9%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$89.06M
Net Margin	-60.0%
Revenue Growth (YoY)	36.1%
EPS Growth (YoY)	-56.9%
FCF Growth (YoY)	14.3%

Financial Health — source: SEC EDGAR
Altman Z-Score	12.47 (safe)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	21.6
Industry P/E (Medical Equipment)	32.9

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	FMR LLC ($88.91M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Medical Equipment
CEO	Xingjuan Chao
Employees	281
Country	US
IPO Date	2024-10-11

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.