electroCore, Inc. Q1 FY2026 earnings call

Thomas Errico discussed leadership transition progress, with Josh Lev providing steady leadership and Mike Fox joining as COO. Josh Lev walked through the quarter, noting highest revenue ever at $9.6 million, 43% y/y growth, 87% gross margin, and reaffirmed full-year 2026 revenue guidance of ~30% growth. Discussed VA prescription device growth, consumer wellness channel progress, and TACSTIM potential.

VA prescription device revenue grew 48% year over year to $7.9 million. Within that, prescription gammaCore grew 26%, and Quell sales surpassed their first $1 million quarter. Consumer wellness channel revenue reached $1.6 million in the quarter, up 44% year over year. TACSTIM revenue has historically been variable, but demand for cognitive performance and fatigue mitigation in federal channels is robust.

Reaffirmed full-year 2026 revenue guidance of approximately 30% growth. Catalysts for 2026 include R&D advancements, opening additional commercial channels, and path to profitability.

Q: Touch on VA channel, structure of sales, balancing expanding sites vs patients treated; A: Mike Fox discussed alignment of 1099 and W-2 models, target for VA medical centers.

Q: Frontiers study on PTSD, alignment with Acacia trial; A: Joshua S. Lev discussed different protocols.

Q: Discussed 30% growth guidance, VA market easy pickings, Kaiser, Quell fibromyalgia, TruVega U.K. launch; A: Mike Fox and Joshua S. Lev provided insights on various aspects.