NeuroPace (NASDAQ:NPCE) crossed a major financial threshold in 2025, reporting preliminary full-year revenue of approximately $100 million as its brain-responsive neurostimulation technology gains traction as a standard of care for drug-resistant epilepsy.
The Mountain View, California-based company saw total revenue climb 25% for the year, driven by a robust fourth quarter that generated $26.6 million.
The core of this growth remains the RNS® System, which saw revenue jump 26% in the final three months of the year to $22.4 million.
This momentum reflects a strategic pivot by management to focus exclusively on high-margin, personalized neuromodulation after winding down its third-party distribution business earlier in the year.
The RNS System remains the only FDA-approved "closed-loop" platform that targets epilepsy by continuously monitoring brain activity and delivering therapeutic pulses in real-time to intercept seizures at their source.
Looking ahead to 2026, the company expects core RNS revenue to grow between 20% and 22%.
This guidance does not yet include potential contributions from Idiopathic Generalized Epilepsy (IGE), an indication expansion currently under FDA review.
If approved in the second half of 2026, the IGE market could significantly broaden the company’s addressable patient population.
NeuroPace ended the year with a strengthened balance sheet, reporting $61.1 million in cash and short-term investments, which management believes provides sufficient runway to reach cash flow breakeven.