CBLL Stock: Insider Activity, Filings & Research

CeriBell, Inc. (CBLL) — Drillr’s hub for CBLL insider activity, SEC filings, earnings signals and AI research. Over the trailing 3 months, CBLL insiders filed 0 open-market buys and 15 sales (SEC Form 4).

Sentiment

0/100

Buys (3m)

Sells (3m)

Net (3m)

-$1.6M

Insider trades by month Buys Sells

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May

Context3-month price -3.3%Institutions accumulating (13F)

Date	Insider	Type	Shares	Price
May 26, 2026	Manni Joseph S.officer: Chief Revenue Officer	Sell	1,378	$18.00
May 26, 2026	Woo Raymondofficer: Chief Technology Officer	Sell	1,966	$18.00
May 26, 2026	Blumberg Scottofficer: Chief Financial Officer	Sell	1,387	$18.00
May 26, 2026	Chao Xingjuandirector, officer: President and CEO	Sell	6,030	$18.00
May 26, 2026	Manni Joseph S.officer: Chief Revenue Officer	Grant	3,500	$9.41
May 26, 2026	Foehr Davidofficer: Senior VP, Finance and PAO	Sell	987	$18.00
May 26, 2026	Foehr Davidofficer: Senior VP, Finance and PAO	Sell	862	$18.80
May 7, 2026	Chao Xingjuandirector, officer: President and CEO	Sell	1,446	$20.12
May 7, 2026	Chao Xingjuandirector, officer: President and CEO	Option	1,446	$4.70
May 7, 2026	Chao Xingjuandirector, officer: President and CEO	Option	23,554	$4.70
May 7, 2026	Chao Xingjuandirector, officer: President and CEO	Sell	23,554	$20.09
May 4, 2026	Woo Raymondofficer: Chief Technology Officer	Option	3,024	$4.70
May 4, 2026	Woo Raymondofficer: Chief Technology Officer	Option	1,469	$2.24
May 4, 2026	Woo Raymondofficer: Chief Technology Officer	Sell	1,469	$20.39
May 4, 2026	Woo Raymondofficer: Chief Technology Officer	Sell	6,611	$20.45

Source: CBLL SEC Form 4 filings, latest May 26, 2026. For informational purposes only — not investment advice.

Overview

CeriBell, Inc. (NASDAQ:CBLL) is a medical device company founded in 2014 and based in Sunnyvale, California. Originally incorporated as Brain Stethoscope, Inc., the company changed its name to CeriBell in August 2015. CeriBell has developed artificial intelligence-powered point-of-care electroencephalography (EEG) technology designed to detect and monitor neurological conditions in acute care settings. The company went public and has established itself as a leader in seizure detection technology, with its systems having been used on over 200,000 patients across more than 500 active hospital accounts.

Business

CeriBell operates in the medical device industry, specifically focusing on neurological monitoring equipment for hospitals and acute care facilities. The company's core offering is the Ceribell System, a revolutionary point-of-care EEG platform that brings sophisticated brain monitoring capabilities directly to the patient's bedside. Traditional EEG monitoring requires specialized technicians, complex setup procedures, and interpretation by neurologists, often causing significant delays in critical care situations. The Ceribell System addresses these limitations by providing an easy-to-use, portable solution that can be deployed quickly by nurses and other healthcare staff. The system consists of disposable EEG headbands that contain electrodes for capturing brain activity, pocket-sized battery-operated recorders that digitize the signals, and proprietary AI algorithms that analyze the data in real-time. The company's flagship product is Clarity, an FDA-cleared seizure detection algorithm that can identify seizure activity automatically. This represents a significant advancement because many seizures in hospitalized patients are "non-convulsive," meaning they don't produce visible physical symptoms but can cause serious brain damage if left undetected. Clarity has recently received FDA clearance for pediatric patients aged one year and above, making it the first and only FDA-cleared seizure detection algorithm for this age group. CeriBell generates revenue through two primary segments: 1. Product revenue (approximately 76% of total revenue) from sales of the hardware components including recorders and disposable headbands, and 2. Subscription revenue (approximately 24% of total revenue) from ongoing software licensing and cloud-based data analysis services. The company has been expanding its research and development efforts into additional neurological conditions, including delirium detection (which has received FDA breakthrough device designation) and stroke detection algorithms.

Competitive moat

CeriBell possesses a relatively strong competitive moat built on several key advantages. The company's primary moat stems from its technological leadership and intellectual property portfolio. As the first and only company with FDA-cleared seizure detection algorithms for both adult and pediatric patients, CeriBell has established significant regulatory barriers to entry. The development of AI algorithms for medical applications requires extensive clinical validation, regulatory approval processes, and substantial R&D investment, creating high barriers for potential competitors. The company's clinical evidence and validation represent another layer of protection. With over 200,000 patients treated using their technology and data collected from over 700 patients for pediatric algorithm validation, CeriBell has built a substantial clinical database that would be difficult and expensive for competitors to replicate. This clinical evidence is crucial for hospital adoption decisions and regulatory approvals. Network effects and switching costs provide additional moat strength. Once hospitals integrate the Ceribell System into their workflows and train staff on its use, switching to alternative solutions becomes costly and disruptive. The subscription-based model also creates ongoing relationships that deepen over time as hospitals become more dependent on the technology for patient care. However, the moat faces potential challenges. The medical device industry attracts significant investment and innovation, and larger medical device companies with substantial resources could potentially develop competing solutions. Additionally, as the market for point-of-care EEG grows, it may attract new entrants with different technological approaches. The company's moat strength will largely depend on its ability to maintain its technological edge through continued R&D investment and successful expansion into additional neurological conditions like delirium and stroke detection, which could broaden its competitive advantages and increase switching costs for customers.

Risks & safety

CeriBell demonstrates a strong margin of safety from a financial stability perspective, though valuation metrics present mixed signals. • Liquidity and Solvency: Exceptionally strong position with $153.4 million in cash and short-term investments as of Q1 2025, providing substantial runway. Current ratio of 17.4 and quick ratio of 16.8 indicate excellent short-term liquidity. Minimal debt with debt-to-equity ratio of only 0.12. • Cash Burn Management: Free cash flow burn of approximately $11.6 million in Q1 2025, suggesting the substantial cash reserves provide several years of operating runway at current burn rates. Management expects to reach cash flow breakeven with current cash on hand. • Valuation Metrics: Price-to-book ratio of 3.8 suggests moderate premium to book value. Negative EBITDA makes traditional valuation metrics less meaningful, though the company is in a growth investment phase. Graham net-net value of 4.8 indicates the stock trades at a reasonable multiple to net current assets. • Other Considerations: Strong revenue growth trajectory (42% year-over-year in Q1 2025) and high gross margins (88%) suggest underlying business health. The company's path to profitability appears feasible given the scalable nature of its software-based revenue model.

Recent development

Over the past few years, CeriBell has executed several key strategic initiatives that have significantly expanded its market opportunity and technological capabilities. The most significant recent development was the company's successful initial public offering, which raised $188 million in net proceeds and provided substantial capital for growth investments. Product Development and FDA Approvals: The company achieved a major milestone with FDA 510(k) clearance for its pediatric seizure detection algorithm in early 2025, making it the first and only FDA-cleared seizure detection algorithm for patients aged one year and above. This approval, validated with EEG data from over 700 patients, significantly expands CeriBell's addressable market into pediatric care settings. Pipeline Expansion Beyond Seizures: CeriBell has strategically diversified its technology platform to address multiple neurological conditions. The company received FDA breakthrough device designation for its delirium detection algorithm and is preparing for regulatory submission. Additionally, it has been developing stroke detection algorithms, having collected data on over 200 patients with encouraging initial results. This multi-indication approach positions CeriBell to become a comprehensive neurological monitoring platform rather than a single-purpose seizure detection device. Commercial Scale-Up: The company has been aggressively expanding its commercial organization, planning to grow from its current sales force to 55 territory managers by mid-2025. This expansion reflects confidence in market demand and the company's ability to penetrate new accounts. The company has grown from 504 active accounts to 558 accounts, adding 29 new accounts in Q1 2025 alone. Strategic Vision - EEG as a Vital Sign: Management has articulated a long-term vision of making EEG monitoring as routine as other vital signs in hospital settings. This ambitious goal involves developing algorithms for multiple neurological conditions and eventually expanding beyond acute care settings into other healthcare environments.

CBLL company profile · for informational purposes only — not investment advice.

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