NeurAxis, Inc. filed its quarterly report on Form 10-Q with the SEC on November 9, 2026, covering the three and nine months ended September 30, 2026, disclosing a sharp increase in both revenue and operating losses compared to the prior-year period.

Key Highlights

  • Net sales more than doubled: Net sales for the three months ended September 30, 2026 were $2,027,904, compared to $811,414 in the same quarter of 2025, according to the filing.
  • Net loss widened: The company reported a net loss of $6,545,442 for Q3 2026, versus a net loss of $2,122,796 in Q3 2025.
  • Nine-month net loss: For the nine months ended September 30, 2026, the net loss was $10,392,620, compared to $6,091,898 in the same period of 2025.
  • General and administrative expenses surged: G&A expenses for Q3 2026 were $7,045,104, up from $1,882,614 in Q3 2025.
  • Cash position: Cash and cash equivalents stood at $4,476,617 as of September 30, 2026, down from $4,965,072 at December 31, 2025.
  • Shares outstanding: Common shares issued and outstanding were 13,808,061 as of September 30, 2026, up from 10,652,812 at December 31, 2025.
  • Accumulated deficit: The accumulated deficit reached $76,399,554 as of September 30, 2026, compared to $64,600,167 at December 31, 2025.

NeurAxis Reports Sharply Higher Revenue and Losses in Third Quarter 2026

According to the Form 10-Q filed with the SEC, NeurAxis, Inc. (NYSE American:NRXS) reported net sales of $2,027,904 for the three months ended September 30, 2026, more than double the $811,414 recorded in the comparable prior-year quarter. Gross profit for Q3 2026 was $1,756,241, compared to $675,927 in Q3 2025. For the nine months ended September 30, 2026, net sales totaled $5,564,483 versus $2,601,155 in the same period of 2025, and gross profit was $4,801,882 compared to $2,179,890.

Despite the revenue increase, operating losses expanded significantly, the filing disclosed. General and administrative expenses for the three-month period were $7,045,104, compared to $1,882,614 in Q3 2025, contributing to an operating loss of $6,578,923 for the quarter versus $2,100,085 in the year-ago quarter. For the nine-month period, the operating loss was $10,444,315, compared to $6,113,040 in the same period of 2025. The filing reported no income tax expense or benefit for either period.

On the balance sheet, total assets were $6,655,045 as of September 30, 2026, compared to $6,404,036 at December 31, 2025. Total liabilities were $3,032,634, and total stockholders' equity was $3,622,411. The company disclosed that common shares outstanding increased from 10,652,812 at year-end 2025 to 13,808,061 at September 30, 2026, reflecting warrant exercises, issuance of common stock pursuant to a shelf registration statement, and stock issued from agreements during the period. As of November 6, 2026, the filing reported 14,193,209 shares of common stock outstanding. The basic and diluted loss per share attributable to common stockholders was $0.52 for Q3 2026, compared to $0.24 in Q3 2025.

What Was Disclosed

NeurAxis filed a quarterly report for the period ended September 30, 2026, disclosing significantly higher revenue alongside wider net losses, increased G&A expenses, an expanded accumulated deficit of $76,399,554, and a higher common share count relative to year-end 2025.