Ceribell Reports Third Quarter 2026 Financial Results
Ceribell, Inc. (CBLL) filed an SEC Form 8-K — Results of Operations and Financial Condition. Ceribell Reports Third Quarter 2026 Financial Results Sunnyvale, Calif. – November 3, 2026 – CeriBell, Inc. (Nasdaq: CBLL) (“Ceribell”), a medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions, today repor
How this was made
The 30-second read
Why it matters
The earnings beat and raised guidance provide a fresh catalyst for the stock, likely prompting short‑term buying interest.
Market read
First‑time disclosure of earnings and guidance makes this a high‑value trading signal for CBLL.
What to watch
The company’s reliance on third‑party manufacturing in Vietnam and ongoing legal costs could constrain profitability.
Ceribell Reports Third Quarter 2026 Financial Results
Revenue grew 30% year over year, active-account additions reached a record 35 net new customers, and gross margin expanded to 90%, but operating expenses increased 36%, widening the GAAP net loss to $21.4 million and Adjusted EBITDA loss to $12.1 million.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Three months ended September 30, 2026 — Product revenue (in thousands)GAAP | $22.23M | – | 31% |
| Three months ended September 30, 2026 — Subscription revenue (in thousands)GAAP | $7.11M | – | 28% |
| Three months ended September 30, 2026 — Total revenue (in thousands)GAAP | $29.34M | – | 30% |
| Three months ended September 30, 2026 — Product cost of goods sold (in thousands)GAAP | 2.66M | – | – |
| Three months ended September 30, 2026 — Subscription cost of revenue (in thousands)GAAP | 343K | – | – |
| Three months ended September 30, 2026 — Total cost of revenue (in thousands)GAAP | 3.00M | – | – |
| Three months ended September 30, 2026 — Gross profit (in thousands)GAAP | $26.34M | – | – |
| Three months ended September 30, 2026 — Gross marginGAAP | 90% | – | – |
| Three months ended September 30, 2026 — Research and development expense (in thousands)GAAP | 7.40M | – | – |
| Three months ended September 30, 2026 — Sales and marketing expense (in thousands)GAAP | 25.03M | – | – |
| Three months ended September 30, 2026 — General and administrative expense (in thousands)GAAP | 14.45M | – | – |
| Three months ended September 30, 2026 — Total operating expenses (in thousands)GAAP | 46.89M | – | 36% |
| Three months ended September 30, 2026 — Loss from operations (in thousands)GAAP | −20.55M | – | – |
| Three months ended September 30, 2026 — Interest expense (in thousands)GAAP | −267K | – | – |
| Three months ended September 30, 2026 — Other income (expense), net (in thousands)GAAP | −536K | – | – |
| Three months ended September 30, 2026 — Net loss (in thousands)GAAP | −$21.35M | – | – |
| Three months ended September 30, 2026 — Net loss per share attributable to common stockholders, basic and dilutedGAAP | (0.55 ) | – | – |
| Three months ended September 30, 2026 — Adjusted EBITDA loss (in thousands)non-GAAP | −$12.14M | – | – |
| Nine months ended September 30, 2026 — Product revenue (in thousands)GAAP | $63.67M | – | – |
| Nine months ended September 30, 2026 — Subscription revenue (in thousands)GAAP | $20.27M | – | – |
| Nine months ended September 30, 2026 — Total revenue (in thousands)GAAP | 83.93M | – | – |
| Nine months ended September 30, 2026 — Gross profit (in thousands)GAAP | 75.4M | – | – |
| Nine months ended September 30, 2026 — Total operating expenses (in thousands)GAAP | 136.7M | – | – |
| Nine months ended September 30, 2026 — Net loss (in thousands)GAAP | −$60.36M | – | – |
| Nine months ended September 30, 2026 — Net loss per share attributable to common stockholders, basic and dilutedGAAP | (1.59 ) | – | – |
| Nine months ended September 30, 2026 — Adjusted EBITDA loss (in thousands)non-GAAP | −$33.13M | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Product revenueThe company cited record utilization within its existing account base and increased adoption of the Ceribell System across new and existing accounts. | $22.2M | – | 31% |
| Subscription revenueThe company attributed growth to continued expansion of its installed base of Clarity subscriptions. | $7.1M | – | 28% |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
full year 2026 outlook
- Revenue$115 million to $117 million
- Notegrowth of approximately 29% to 31% over the Company’s prior year revenue
- NoteThe updated range does not include material contributions from the Company’s neonate, pediatric, or delirium products.
What drove it
- The company ended the quarter with 747 total active accounts and added a record 35 net new customers.
- The company reported double-digit year-over-year same-store utilization growth.
- Gross-margin strength was driven by manufacturing cost reduction initiatives and the introduction of a fully operational manufacturing line in Vietnam.
- The company announced the full launch of its delirium monitoring solution following a commercial pilot.
- The company received FDA 510(k) clearance for Quantitative EEG Trending and Amplitude-Integrated EEG Analysis.
Concerns
- Operating expenses increased 36% to $46.9 million, driven by commercial infrastructure ahead of the delirium launch, research and development for the next-generation hardware platform, algorithm development, clinical studies, stock-based compensation expense, and intellectual-property enforcement costs.
- GAAP net loss widened to $21.4 million from $13.5 million, while Adjusted EBITDA loss widened to $12.1 million from $9.2 million.
- The full-year revenue outlook does not include material contributions from neonate, pediatric, or delirium products.
What to watch
- New account additions and utilization within the existing account base, which the company identified as drivers of core-business momentum.
- Commercial execution of the fully launched delirium monitoring solution.
- Introduction of the company’s new hardware platform.
- Operating-expense growth related to commercial infrastructure, research and development, clinical studies, stock-based compensation, and intellectual-property enforcement.
- Progress against full-year 2026 revenue guidance of $115 million to $117 million.
Balance sheet and cash flow
- Cash, cash equivalents, and marketable securities totaled $117.5 million as of September 30, 2026.
- Cash and cash equivalents were $ 41,989 (in thousands) as of September 30, 2026, compared to $ 40,476 (in thousands) as of December 31, 2025.
- Marketable securities were 75,478 (in thousands) as of September 30, 2026, compared to 118,785 (in thousands) as of December 31, 2025.
- Notes payable, long-term were 20,000 (in thousands) as of September 30, 2026, compared to 19,811 (in thousands) as of December 31, 2025.
- In August 2026, the company entered into a new credit facility providing access to up to $60 million in committed capital, comprising a $30 million term loan and a $30 million revolving credit facility, with an additional $25 million of uncommitted capital available at the lender’s discretion.
- Operating cash flow and free cash flow were not reported.
Analysis
Ceribell reported third-quarter revenue of $29.3 million, up 30% from $22.6 million in the third quarter of 2025. Product revenue increased 31% to $22.2 million and subscription revenue increased 28% to $7.1 million. Management attributed the growth to record utilization within the existing account base, increased adoption across new and existing accounts, and continued growth in Clarity subscriptions. The company ended the quarter with 747 total active accounts after adding a record 35 net new customers.
Gross profit was $26.3 million and gross margin reached 90%, compared with 88% in the prior-year period. The company attributed the margin improvement to manufacturing cost-reduction initiatives and the impact of a fully operational manufacturing line in Vietnam. The combination of product revenue, subscription revenue, and margin expansion indicates that the core seizure business remained the principal source of reported growth and operating leverage at the gross-profit level.
Operating expenses rose 36% to $46.9 million, exceeding revenue growth. Sales and marketing expense was $25.0 million, research and development expense was $7.4 million, and general and administrative expense was $14.5 million. The company cited commercial infrastructure ahead of the delirium launch, next-generation hardware development, algorithm development, clinical studies, stock-based compensation, and intellectual-property enforcement costs. These investments contributed to a GAAP net loss of $21.4 million, versus $13.5 million a year earlier, and an Adjusted EBITDA loss of $12.1 million, versus $9.2 million.
Ceribell raised full-year 2026 revenue guidance to $115 million to $117 million, representing growth of approximately 29% to 31% over prior-year revenue. The guide is based on continued core-business momentum from both new account additions and established-account utilization, and excludes material contributions from neonate, pediatric, or delirium products. The company also reported $117.5 million of cash, cash equivalents, and marketable securities as of September 30, 2026, alongside a new credit facility with up to $60 million in committed capital and an additional $25 million of uncommitted capital available at the lender’s discretion.
Management, verbatim
Our third quarter results reflect new highs in account additions and utilization within our existing account base, demonstrating the strength of our core seizure business as a durable growth engine.
Jane Chao, Ph.D., co-founder and CEO
With the full launch of our delirium monitoring solution and the coming introduction of our new hardware platform, we are well positioned for a pivotal 2027 as we advance our mission to establish EEG as a new vital sign.
Jane Chao, Ph.D., co-founder and CEO
Not in the filing
stated, not guessed- Prior-quarter comparisons for reported operating metrics
- Operating cash flow
- Free cash flow
- Share repurchases
- Dividend payments
- Gross-margin guidance
- Operating-expense guidance
- Tax-rate guidance
- Prior outlook document and prior-guidance comparison
- Quantified revenue contribution from neonate, pediatric, or delirium products
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Ceribell is a Nasdaq‑listed medical‑technology firm focused on EEG‑based diagnostics. The Q3 2026 release includes revenue growth, margin expansion, and a new credit facility.
Ticker impact
Ceribell reported Q3 2026 revenue of $29.3M, a 30% YoY increase, and raised full‑year 2026 revenue guidance to $115‑$117M.
likely upward pressure as the market prices in the raised guidance
The company posted strong top‑line growth and explicitly raised its revenue outlook, which typically supports a price rally for a micro‑cap with limited float.
Market effects
Highlights growing demand for EEG monitoring and neuro‑diagnostic solutions, potentially benefiting peers in medical technology.
U.S. biotech and med‑tech investors may re‑evaluate small‑cap exposure after the guidance raise.
Limited; impact confined to niche neuro‑diagnostic market.
Counterpoint
The raised guidance may already be priced in, and higher operating expenses could pressure margins.
Key entities
- companyCeribell, Inc.
Medical‑technology company reporting Q3 2026 results and raising guidance.
