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CeriBell (CBLL) investor relations material

CeriBell Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary4 Nov, 2025

Executive summary

  • Q3 2025 revenue reached $22.6 million, up 31% year-over-year, marking the 30th consecutive quarter of sequential growth and driven by commercial traction, new customer additions, and expanded account adoption.

  • Net loss for Q3 2025 was $13.5 million ($0.37/share), compared to $10.4 million ($1.85/share) in Q3 2024, reflecting higher operating expenses as the company scales.

  • Active account base reached 615, with a sequential increase of 31 accounts, the largest since going public; over 200,000 patients served as of September 30, 2025.

  • Utilization per account has nearly tripled over five years, with top accounts showing three times higher usage than average.

  • Erica Rogers appointed to the Board of Directors.

Financial highlights

  • Q3 2025 product revenue: $17.0 million (+28% YoY); subscription revenue: $5.6 million (+44% YoY); total revenue: $22.6 million (+31% YoY).

  • Gross margin for Q3 2025 was 88%, up from 87% in Q3 2024; gross profit was $19.9 million.

  • Operating expenses rose 39% YoY to $34.6 million, driven by commercial investments, higher headcount, and public company costs.

  • Cash, cash equivalents, and marketable securities totaled $168.5 million as of September 30, 2025.

  • Net loss per share: $(0.37) for Q3 2025, compared to $(1.85) in Q3 2024.

Outlook and guidance

  • Full-year 2025 revenue guidance raised to $87–$89 million, representing 33–36% annual growth.

  • Expect gross margins in the mid-80% range for Q4 2025 and full year 2026, supported by new Vietnam manufacturing line.

  • No plans for additional capital raise; aim to achieve cash flow break-even with current cash.

  • Current liquidity expected to fund operations for at least the next 12 months.

  • Focus remains on expanding U.S. market penetration and pursuing international regulatory clearances.

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Frequently asked questions

Ceribell Inc. is a medical technology company specializing in point-of-care electroencephalography (EEG) systems designed to enhance the diagnosis and management of patients with serious neurological conditions. Its flagship product, the Ceribell System, combines portable hardware with artificial intelligence (AI)-powered algorithms to enable rapid detection and continuous monitoring of neurological conditions in acute care settings. The system includes EEG disposable headbands and pocket-sized, battery-operated recorders, facilitating early detection and management of suspected seizure patients. The company is headquartered in Sunnyvale, California, and its shares are listed on the NASDAQ.

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