NeuroPace(NPCE) - 2025 Q1 - Quarterly Results

Financial Performance - Reported record quarterly revenue of $22.5 million in Q1 2025, a 24% increase from$ 18.1 million in Q1 2024[5] - RNS System revenue grew 26% year-over-year in Q1 2025, or 29% when excluding revenue from implants in the NAUTILUS study in Q1 2024[6] - Increased full-year 2025 revenue guidance to $93 million -$ 97 million, representing growth of 16% - 21% compared to $79.9 million in 2024[13] - Gross margin for Q1 2025 was 77.0%, exceeding the full-year guidance range of 73% - 75%[7] Operating Expenses and Losses - Operating expenses increased by 8% year-over-year to$ 22.5 million in Q1 2025, driven by R&D investments[8] - Loss from operations improved to $5.1 million in Q1 2025, compared to$ 7.5 million in the prior year[9] - Net loss for Q1 2025 was $6.6 million, down from$ 8.9 million in Q1 2024[9] Cash Position - Cash, cash equivalents, and short-term investments totaled $66.3 million as of March 31, 2025, up from$ 52.8 million at the end of the prior quarter[9] Strategic Focus - The company is on track to announce topline data from the NAUTILUS pivotal study in the second half of 2025[2] - Strategic refocusing on the core RNS System product line, with plans to wind down the distribution relationship for SEEG products by Q1 2026[6]