NeurAxis, Inc. (NRXS) Stock

NeurAxis, Inc. (NRXS) is a Healthcare stock trading at $6.27 (as of 2026-08-20), with a market capitalization of $78.74M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

NeurAxis, Inc. is a neuromodulation therapy device company that develops IB-Stim, a percutaneous electrical nerve field stimulation system for patients ages 11–18 with functional abdominal pain associated with irritable bowel syndrome. Its target customers include healthcare providers such as hospitals and clinics.

Understand NeurAxis, Inc.: how it makes money

NeurAxis sells a neuromodulation therapy device, IB-Stim, which is intended for patients aged 11 to 18 with functional abdominal pain associated with irritable bowel syndrome, and it makes money by providing this treatment through U.S. hospitals and clinics and related commercialization drivers like insurance coverage.

The profit model is primarily driven by whether insurers cover IB-Stim widely enough to create reachable “Insurance Coverage Lives,” and whether clinical evidence (like peer-reviewed studies) supports adoption, since the product targets a specific patient group and is used in hospitals and clinics.

Business quality (Weak): Clear single-product therapy focus and identifiable operating indicators (insurance coverage reach and evidence base), but current profitability is weak (very negative operating margin).

Bull case

  • High gross margin suggests strong product economics at the gross level: Latest reported gross margin is 86.4% (period ending 2026-03-31).
  • Measurable reimbursement reach indicator: Insurance Coverage Lives is reported at 45,000,000, which can support potential patient access through coverage.
  • Evidence base is tracked: Number of Peer-Reviewed Studies Supporting Technology is reported at 16, which can help support adoption.

Bear case

  • Very large operating losses: Latest reported operating margin is -108.3% (period ending 2026-03-31).
  • Reimbursement risk tied to insurance coverage: If Insurance Coverage Lives declines or coverage does not expand, demand and commercialization economics could weaken.
  • Clinical and adoption risk in a narrow target population: The system is intended for patients aged 11 to 18 with functional abdominal pain associated with irritable bowel syndrome, which limits the addressable group.
Valuation — source: SEC EDGAR (first-party)
Price$6.27
Market Cap$78.74M
Price / Book11.69
Price / Sales13.22
FCF Yield-8.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$3.57M
Net Margin-218.5%
Return on Equity-114.0%
Debt / Equity0.01
Current Ratio3.04
Revenue Growth (YoY)32.9%
EPS Growth (YoY)-22.1%
FCF Growth (YoY)5.5%
Financial Health — source: SEC EDGAR
Altman Z-Score-3.04 (distress)
Piotroski F-Score4/9 (moderate)
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 HolderAIGH Capital Management LLC ($2.96M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryMedical Equipment
CEOBrian Carrico
Employees21
CountryUS
IPO Date2023-08-09

Related Companies (Business model: Medical Devices / Life Science Tools; 8 closest by market cap; US-domiciled)

  • Stereotaxis, Inc. (STXS)
  • FONAR Corporation (FONR)
  • Vivani Medical, Inc. (VANI)
  • Streamex Corp. (STEX)
  • electroCore, Inc. (ECOR)
  • Hyperfine, Inc. (HYPR)
  • Outset Medical, Inc. (OM)
  • Precision Optics Corporation, Inc. (POCI)
NRXS earnings history · NRXS institutional & insider holders · NRXS KPIs & operating metrics · NRXS financials · NRXS investor presentations & press releases · NRXS SEC filings · NRXS peers · Congress trades · Insider trades · Short interest · Stock screener

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.