NeuroPace Inc
(NASDAQ:NPCE)

Based in Mountain View, Calif., NeuroPace is a commercial-stage medical device company focused on transforming the lives of people suffering from epilepsy by reducing or eliminating the occurrence of debilitating seizures. Its novel and differentiated RNS System is the first and only commercially av...

Website: https://www.neuropace.com/

Founded: 1997

Sector: Manufacturing

Industry: Surgical and Medical Instrument Manufacturing

Medical Devices

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At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

Moat:

Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31

revenue	22,068,000	27,354,000	23,520,000	22,524,000	21,466,000	21,060,000	19,256,000	18,124,000	18,012,000	16,427,000	16,510,000	14,472,000	12,789,000	11,157,000	10,200,000	11,374,000	10,997,000	10,339,000	12,630,000	11,217,000
yoy	2.80%	29.89%	22.14%	24.28%	19.18%	28.20%	16.63%	25.23%	40.84%	47.23%	61.86%	27.24%	16.30%	7.91%	-19.24%	1.40%
qoq	-19.32%	16.30%	4.42%	4.93%	1.93%	9.37%	6.25%	0.62%	9.65%	-0.50%	14.08%	13.16%	14.63%	9.38%	-10.32%	3.43%	6.36%	-18.14%	12.60%
cost of goods sold	4,020,000	6,186,000	5,388,000	5,182,000	5,278,000	5,640,000	5,122,000	4,781,000	4,467,000	4,194,000	4,538,000	4,100,000	3,986,000	3,192,000	2,734,000	3,115,000	2,921,000	2,832,000	3,271,000	2,724,000
gross profit	18,048,000	21,168,000	18,132,000	17,342,000	16,188,000	15,420,000	14,134,000	13,343,000	13,545,000	12,233,000	11,972,000	10,372,000	8,803,000	7,965,000	7,466,000	8,259,000	8,076,000	7,507,000	9,359,000	8,493,000
yoy	11.49%	37.28%	28.29%	29.97%	19.51%	26.05%	18.06%	28.64%	53.87%	53.58%	60.35%	25.58%	9.00%	6.10%	-20.23%	-2.76%
qoq	-14.74%	16.74%	4.56%	7.13%	4.98%	9.10%	5.93%	-1.49%	10.73%	2.18%	15.43%	17.82%	10.52%	6.68%	-9.60%	2.27%	7.58%	-19.79%	10.20%
gross margin %	81.78%	77.39%	77.09%	76.99%	75.41%	73.22%	73.40%	73.62%	75.20%	74.47%	72.51%	71.67%	68.83%	71.39%	73.20%	72.61%	73.44%	72.61%	74.10%	75.72%
operating expenses:
sales and marketing	11,583,000	12,598,000	12,043,000
research and development	7,189,000	6,576,000	6,845,000	7,440,000	6,050,000	5,754,000	6,065,000	5,784,000	5,377,000	4,795,000	5,343,000	5,263,000	5,089,000	5,611,000	5,669,000	5,577,000	5,345,000	4,329,000	4,437,000	4,100,000
general and administrative	4,844,000	4,594,000	6,068,000
total operating expenses	23,616,000	23,768,000	24,956,000	22,489,000	19,841,000	19,663,000	20,364,000	20,888,000	18,596,000	18,183,000	19,826,000	18,691,000	18,662,000	18,164,000	18,440,000	18,021,000	17,091,000	13,750,000	13,964,000	12,367,000
income from operations	-5,568,000	-2,600,000	-6,824,000	-5,147,000	-3,653,000	-4,243,000	-6,230,000	-7,545,000	-5,051,000	-5,950,000	-7,854,000	-8,319,000	-9,859,000	-10,199,000	-10,974,000	-9,762,000	-9,015,000	-6,243,000	-4,605,000	-3,874,000
yoy	52.42%	-38.72%	9.53%	-31.78%	-27.68%	-28.69%	-20.68%	-9.30%	-48.77%	-41.66%	-28.43%	-14.78%	9.36%	63.37%	138.31%	151.99%
qoq	114.15%	-61.90%	32.58%	40.90%	-13.91%	-31.89%	-17.43%	49.38%	-15.11%	-24.24%	-5.59%	-15.62%	-3.33%	-7.06%	12.42%	8.29%	44.40%	35.57%	18.87%
operating margin %	-25.23%	-9.51%	-29.01%	-22.85%	-17.02%	-20.15%	-32.35%	-41.63%	-28.04%	-36.22%	-47.57%	-57.48%	-77.09%	-91.41%	-107.59%	-85.83%	-81.98%	-60.38%	-36.46%	-34.54%
interest income	565,000	667,000	718,000	793,000	681,000	754,000	762,000	827,000	822,000	769,000	733,000	726,000	800,000	423,000	221,000	134,000
interest expense	-1,521,000	-1,645,000	-2,059,000	-2,153,000	-2,192,000	-2,182,000	-2,166,000	-2,258,000	-2,236,000	-2,191,000	-2,125,000	-1,965,000	-1,941,000	-1,906,000	-1,852,000	-1,830,000	-1,862,000	-1,826,000	-1,873,000	-1,849,000
other income	-165,000	82,000	-486,000	-82,000	-86,000	219,000	120,000	51,000	265,000	115,000	122,000	-817,000	-146,000	-103,000	-85,000	-3,000	-264,000	-14,000	-2,016,000	-3,087,000
net loss and comprehensive loss	-6,689,000	-3,496,000	-8,651,000	-6,589,000	-5,250,000	-5,452,000	-7,514,000	-8,925,000
net income per share	-0.2	-0.11	-0.26	-0.21	-0.17	-0.19	-0.26	-0.32	-0.22	-0.28	-0.36	-0.41	-0.44	-0.48	-0.52	-0.47	-0.36	-0.34	-0.48	-32.73
weighted-average shares used for eps calculation	33,716,813	33,134,606	32,863,031	31,480,911	29,126,314	29,444,625	28,853,216	28,285,176	25,851,813	26,017,329	25,472,526	25,097,262	24,594,784	24,728,701	24,503,552	24,307,485	16,608,800	24,101,399	17,553,818	269,178
operating expenses
selling, general and administrative				15,049,000	13,791,000	13,909,000	14,299,000	15,104,000	13,219,000	13,388,000	14,483,000	13,428,000	13,573,000	12,553,000	12,771,000	12,444,000	11,746,000	9,421,000	9,527,000	8,267,000
net income									-6,200,000	-7,257,000	-9,124,000	-10,375,000	-11,146,000	-11,785,000	-12,690,000	-11,461,000	-10,693,000	-8,083,000	-8,494,000	-8,810,000
yoy									-44.37%	-38.42%	-28.10%	-9.48%	4.24%	45.80%	49.40%	30.09%
qoq									-14.57%	-20.46%	-12.06%	-6.92%	-5.42%	-7.13%	10.72%	7.18%	32.29%	-4.84%	-3.59%
net income margin %	0%	0%	0%	0%	0%	0%	0%	0%	-34.42%	-44.18%	-55.26%	-71.69%	-87.15%	-105.63%	-124.41%	-100.76%	-97.24%	-78.18%	-67.25%	-78.54%
unrealized loss on available-for-sale debt securities															-469,000	-710,000			-22,000
comprehensive loss									-6,200,000	-7,257,000	-9,124,000	-10,375,000	-10,920,000	-11,668,000	-13,159,000	-12,171,000	-10,998,000	-8,061,000	-8,516,000	-8,810,000
unrealized gain on available-for-sale debt securities													-265,500	117,000				22,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-09-30	2025-06-30	2025-03-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-09-30	2022-06-30	2022-03-31	2021-09-30	2021-06-30	2021-03-31

assets
current assets:
cash and cash equivalents	14,779,000	20,648,000	22,857,000	27,019,000	15,418,000	12,844,000	12,998,000	18,058,000	9,717,000	7,855,000	6,720,000	5,688,000	5,702,000	7,489,000	26,633,000	31,247,000	13,841,000
short-term investments	39,202,000	39,366,000	39,284,000	39,243,000	41,412,000	42,693,000	45,947,000	48,396,000	51,631,000	55,716,000	60,895,000	79,724,000	86,709,000	95,686,000	96,701,000	96,668,000	16,689,000
accounts receivable	14,788,000	14,938,000	13,554,000	15,435,000	11,561,000	11,242,000	11,631,000	12,314,000	11,279,000	10,876,000	9,194,000	7,876,000	8,474,000	9,061,000	6,611,000	7,705,000	8,202,000
inventory	16,694,000	18,135,000	16,346,000	13,580,000	12,084,000	11,363,000	11,416,000	11,214,000	9,759,000	10,014,000	10,750,000	8,581,000	8,419,000	8,103,000	7,162,000	6,965,000	7,042,000
prepaid expenses and other current assets	1,515,000	2,243,000	1,701,000	2,201,000	2,116,000	2,084,000	2,262,000	2,737,000	1,588,000	2,050,000	2,597,000	2,501,000	3,160,000	2,081,000	3,383,000	3,814,000	1,314,000
total current assets	86,978,000	95,330,000	93,742,000	97,478,000	82,591,000	80,226,000	84,254,000	92,719,000	83,974,000	86,511,000	90,156,000	104,370,000	112,464,000	122,420,000	140,490,000	146,399,000	47,088,000
property and equipment	1,283,000	1,108,000	1,156,000	1,160,000	1,041,000	998,000	1,048,000	1,003,000	949,000	976,000	1,024,000	894,000	951,000	860,000	624,000	425,000	476,000
operating lease right-of-use asset	9,679,000	10,575,000	11,007,000	11,430,000	12,246,000	12,641,000	13,027,000	13,405,000	13,774,000	14,136,000	14,491,000	15,067,000	4,986,000	5,559,000
restricted cash	852,000	122,000	122,000	122,000	122,000	122,000	122,000	122,000	122,000	122,000	122,000	122,000	122,000	122,000	122,000	122,000	366,000
other assets	106,000	120,000	87,000	15,000	15,000	15,000	15,000	15,000	15,000	21,000	21,000	21,000	21,000	21,000	21,000	23,000	23,000
total assets	98,898,000	107,255,000	106,114,000	110,205,000	96,303,000	94,389,000	98,853,000	107,651,000	99,300,000	102,232,000	106,271,000	120,474,000	118,544,000	128,982,000	141,257,000	146,969,000	50,324,000
liabilities and stockholders’ equity
current liabilities:
accounts payable	4,512,000	4,590,000	4,721,000	4,046,000	2,160,000	2,290,000	3,268,000	2,332,000	1,207,000	1,807,000	1,829,000	1,175,000	1,503,000	2,228,000	1,254,000	968,000	1,484,000
accrued liabilities	9,344,000	12,317,000	9,740,000	8,058,000	10,072,000	7,745,000	7,290,000	11,180,000	10,036,000	8,182,000	6,580,000	7,550,000	6,962,000	6,961,000	7,420,000	6,642,000	5,734,000
operating lease liability	2,186,000	2,051,000	1,986,000	1,923,000	1,800,000	1,741,000	1,683,000	1,627,000	1,572,000	1,519,000	1,466,000	692,000	2,936,000	2,868,000
deferred revenue	126,000	649,000	696,000	680,000	749,000	809,000	869,000	1,090,000
total current liabilities	16,168,000	19,607,000	17,143,000	14,707,000	14,781,000	12,585,000	13,110,000	16,229,000	12,815,000	11,508,000	9,875,000	9,417,000	11,401,000	12,057,000	8,674,000	7,610,000	10,808,000
long-term debt	59,021,000	58,748,000	58,616,000	59,788,000	59,266,000	59,016,000	58,039,000	56,954,000	55,889,000	54,854,000	53,859,000	51,954,000	51,018,000	50,115,000	49,582,000	49,353,000	49,561,000
operating lease liability, net of current portion	9,255,000	10,382,000	10,917,000	11,441,000	12,433,000	12,903,000	13,363,000	13,814,000	14,233,000	14,644,000	15,047,000	15,694,000	3,223,000	3,987,000
total liabilities	84,444,000	88,737,000	86,676,000	85,936,000	86,480,000	84,504,000	84,512,000	86,997,000	82,937,000	81,006,000	78,781,000	77,065,000	65,642,000	66,159,000	59,545,000	58,303,000	65,338,000
commitments and contingencies
stockholders’ equity:
preferred stock, 0.001 par value...
common stock, 0.001 par value...	34,000	33,000	33,000	33,000	30,000	29,000	29,000	28,000	26,000	26,000	25,000	25,000	25,000	24,000
additional paid-in capital	573,524,000	568,171,000	565,595,000	561,775,000	535,493,000	530,104,000	527,046,000		513,946,000	511,552,000	508,693,000	504,425,000	502,250,000	499,013,000	494,733,000	493,626,000	240,032,000
accumulated deficit	-559,104,000	-549,686,000	-546,190,000	-537,539,000	-525,700,000	-520,248,000	-512,734,000	-503,809,000	-497,609,000	-490,352,000	-481,228,000	-459,707,000	-447,922,000	-435,232,000	-413,078,000	-404,995,000	-396,501,000
total stockholders’ equity	14,454,000	18,518,000	19,438,000	24,269,000	9,823,000	9,885,000	14,341,000	20,654,000	16,363,000	21,226,000	27,490,000	43,409,000	52,902,000	62,823,000	81,712,000
total liabilities and stockholders’ equity	98,898,000	107,255,000	106,114,000	110,205,000	96,303,000	94,389,000	98,853,000	107,651,000	99,300,000	102,232,000	106,271,000	120,474,000	118,544,000	128,982,000
current assets
deferred offering costs					288,000	387,000	387,000	387,000	466,000	466,000	457,000						2,371,000
current liabilities
stockholders’ equity
additional paid-in-capital								524,435,000
accumulated other comprehensive loss												-1,334,000	-1,451,000	-982,000
deferred rent, noncurrent															1,041,000	1,092,000	1,204,000
short-term debt																	3,590,000
redeemable convertible preferred stock																	3,491,000
other liabilities															248,000	248,000	274,000
common stock															24,000	24,000
accumulated other comprehensive income															33,000	11,000	33,000
total liabilities, redeemable convertible preferred stock and stockholders’ equity															141,257,000
liabilities and stockholders’ deficit
stockholders’ deficit
total stockholders’ deficit																88,666,000	-156,436,000
total liabilities, redeemable convertible preferred stock and stockholders’ deficit																146,969,000	50,324,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31

cash flows from operating activities
net loss	-6,689,000	-3,496,000	-8,651,000	-6,589,000		-5,452,000	-7,514,000	-8,925,000	-6,200,000	-7,257,000	-9,124,000	-10,375,000		-11,785,000	-12,690,000	-11,461,000		-8,083,000	-8,494,000	-8,810,000
adjustments to reconcile net loss to net cash from operating activities:
stock-based compensation expense	2,278,000	2,628,000	3,228,000	2,626,000	2,603,000	2,591,000	2,548,000	2,540,000	2,357,000	2,421,000	2,655,000	2,125,000	2,076,000	2,182,000	2,603,000	1,488,000	1,876,000	1,107,000	1,103,000	202,000
depreciation	60,000	54,000	55,000	49,000	48,000	56,000	58,000	45,000	40,000	36,000	48,000	48,000	54,000	60,000	73,000	80,000	79,000	75,000	68,000	74,000
amortization of debt discount and issuance costs	68,000	70,000	55,000	49,000	49,000	47,000	54,000	78,000	76,000	74,000	69,000	64,000	66,000	64,000	61,000	67,000	67,000	58,000	73,000	69,000
non-cash interest expense	77,000	73,000	177,000	213,000	211,000	203,000	224,000	316,000	300,000	281,000	260,000	234,000	238,000	225,000	210,000	201,000	198,000	170,000	221,000	217,000
amortization of right-of-use asset	453,000	433,000	422,000	413,000	403,000	395,000	386,000	378,000	369,000	362,000	355,000	347,000	698,000	679,000	671,000	672,000
unrealized loss on short-term investments	165,000
inventory write-downs	76,000	47,000	49,000	44,000	55,000	107,000	42,000	47,000	64,000	44,000	54,000	34,000	39,000	35,000	87,000	82,000	57,000	23,000	138,000	24,000
loss on disposal of property and equipment		0	0	2,000
changes in operating assets and liabilities:
accounts receivable	-108,000	-1,383,000	1,881,000	-2,585,000	-1,290,000	-318,000	389,000	682,000	-1,052,000	-403,000	-1,682,000	-1,713,000	392,000	601,000	586,000	-1,970,000	-480,000	1,094,000	496,000	194,000
inventory	125,000	-1,836,000	-2,815,000	-243,000	-1,352,000	-828,000	11,000	-249,000	-1,519,000	210,000	683,000	-1,072,000	-1,169,000	-198,000	-404,000	-362,000	-718,000	-220,000	-61,000	-157,000
prepaid expenses and other assets	-77,000	-537,000	521,000	150,000	-237,000	-32,000	178,000	475,000	-1,149,000	469,000	547,000	514,000	-611,000	660,000	-1,080,000	239,000	1,063,000	433,000	-2,525,000	-135,000
accounts payable	2,195,000	-48,000	737,000	966,000	773,000	-130,000	-922,000	950,000	1,055,000	-600,000	-22,000	-193,000	855,000	-301,000	-727,000	820,000	220,000	191,000	-468,000	536,000
accrued liabilities	-3,995,000	2,650,000	2,213,000	-2,333,000	-284,000	2,328,000	454,000	-3,890,000	1,145,000	1,854,000	1,603,000	-834,000	-136,000	589,000	4,000	-472,000	423,000	775,000	1,615,000	-1,094,000
deferred revenue	-15,000	-48,000	17,000	124,000	-193,000	-61,000	-60,000	-220,000
operating lease liabilities	-513,000	-469,000	-461,000	-450,000	-420,000	-411,000	-402,000	-394,000	-365,000	-358,000	-349,000	-343,000	0	-534,000	-793,000	-777,000
net cash from operating activities	-5,900,000	-1,944,000	-2,086,000	-7,482,000	-4,797,000	-1,724,000	-3,900,000	-7,528,000	-3,341,000	-2,302,000	-4,360,000	-9,698,000	-7,843,000	-6,975,000	-10,658,000	-11,393,000	-8,203,000	-4,424,000	-6,014,000	-5,936,000
capital expenditures	-3,000	-30,000	-168,000	-37,000	-39,000	-100,000	-63,000	-49,000	-32,000	-9,000	0		-102,000	-31,000	-164,000	-275,000	-154,000	-178,000	-17,000	-35,000
free cash flows	-5,903,000	-1,974,000	-2,254,000	-7,519,000	-4,836,000	-1,824,000	-3,963,000	-7,577,000	-3,373,000	-2,311,000	-4,360,000		-7,945,000	-7,006,000	-10,822,000	-11,668,000	-8,357,000	-4,602,000	-6,031,000	-5,971,000
cash flows from investing activities
acquisition of property and equipment	-117,000	-30,000	-168,000	-37,000	-39,000	-100,000	-63,000	-104,000	-32,000	-9,000	0	-132,000	-102,000	-31,000	-164,000	-306,000	-154,000	-178,000	-17,000	-35,000
net cash from investing activities	-117,000	-30,000	-168,000	-37,000	1,961,000	1,400,000	3,237,000	2,396,000	3,468,000	4,191,000	5,300,000	10,068,000	8,898,000	6,969,000	8,236,000	-306,000	-154,000	-190,000	-80,017,000	-5,035,000
cash flows from financing activities
proceeds from issuance of common stock in follow-on offering, net of underwriting discounts and commissions		-50,000	-561,000	70,265,000
repurchase of common stock from kck ltd.
proceeds from issuance of common stock under employee plans	10,000	1,000	766,000	385,000	595,000	34,000	581,000	721,000	549,000	8,000	245,000	1,000	213,000	0
taxes withheld and paid related to net share settlement of equity awards	-176,000	-53,000	-174,000	-228,000	-92,000	-68,000	-72,000	-649,000	-37,000	-35,000	-41,000	-146,000	-4,000	-8,000
proceeds from at-the-market offering, net of sales commission		0	0	232,000	345,000
net cash from financing activities	-166,000	-235,000	-1,908,000	21,108,000	848,000	2,898,000	509,000	72,000	8,214,000	-27,000	195,000	-255,000	-138,000	-8,000	635,000	1,000	911,000	0	103,193,000	-1,578,000
net increase in cash and cash equivalents	-6,183,000	-2,209,000	-4,162,000	13,589,000	-1,988,000	2,574,000	-154,000	-5,060,000	8,341,000	1,862,000	1,135,000	115,000					-7,446,000	-4,614,000	17,162,000	-12,549,000
cash, cash equivalents and restricted cash at the beginning of the period	21,814,000
cash, cash equivalents and restricted cash at the end of the period	15,631,000
reconciliation of cash, cash equivalents and restricted cash to balance sheets:
cash and cash equivalents	14,779,000	-2,209,000	-4,162,000	27,019,000	-1,988,000	2,574,000	-154,000	12,998,000	8,341,000	1,862,000	1,135,000	6,720,000	917,000	-14,000	-1,787,000	7,489,000		-4,614,000	17,406,000	13,841,000
restricted cash	852,000	0	0	122,000	0	0	0	122,000	0	0	0	122,000	0	0	0	122,000		0	-244,000	366,000
cash, cash equivalents and restricted cash in balance sheets	15,631,000	-2,209,000	-4,162,000	27,141,000		2,574,000	-154,000	13,120,000		1,862,000	1,135,000	6,842,000		-14,000	-1,787,000	7,611,000				14,207,000
supplemental disclosure of cash flow information:
cash paid for interest	1,388,000			1,890,000	1,932,000	1,932,000	1,188,000	1,174,000	1,171,000	1,157,000	1,130,000	1,018,000				1,563,000				1,563,000
supplemental disclosures of non-cash investing and financing information:
follow-on offering costs included in accounts payable and accrued liabilities
deferred offering costs offset against additional paid-in capital
purchase of property and equipment included in accounts payable	114,000							55,000								31,000
adjustments to reconcile net loss to net cash from operating activities
loss on debt extinguishment		0
pik interest incurred but not paid on term loan					0	0	699,000	690,000	689,000	680,000	665,000	649,000	655,000	647,000
gain on short-term investments
changes in operating assets and liabilities
proceeds from sale of short-term investments					2,000,000	1,500,000	3,300,000	2,500,000	3,500,000	4,200,000	5,300,000	10,200,000	9,000,000	7,000,000
repurchase of common stock		0	0	-49,546,000
proceeds from debt, net of discounts and issuance costs		-133,000
repayment of debt		0															0	0
cash, cash equivalents and restricted cash
beginning of the period		0	0	13,552,000		0	0	18,180,000		0	0	6,727,000		0	0	19,309,000		0	0	26,756,000
end of the period		-2,209,000	-4,162,000	27,141,000		2,574,000	-154,000	13,120,000		1,862,000	1,135,000	6,842,000		-14,000	-1,787,000	7,611,000		-4,614,000	17,162,000	14,207,000
loss on short-term investments			-41,000	82,000		-219,000	-45,000	-51,000	-265,000	-115,000	-122,000	817,000
net income
adjustments to reconcile net income to net cash from operating activities
(gain) loss on short-term investments
other
payment of deferred offering costs									-186,000	0	-9,000	-110,000					0	0	-1,810,000	-1,582,000
beginning of year
end of year
total cash, cash equivalents and restricted cash
net change in accrued liabilities from early exercise of options						0				0						-2,000
proceeds from at-the-market offering, net of issuance costs
operating lease right-of-use asset obtained in exchange for lease obligations
realized income from sale of short-term investments
change in fair value of redeemable convertible preferred stock warrant liability																	0	0	2,114,000	3,122,000
other liabilities
deferred rent																	-47,000	-47,000	-294,000	-178,000
purchase of short-term investments																	0	-12,000	-80,000,000	-5,000,000
proceeds from issuance of common stock in initial public offering, net of underwriter discount and commissions																	0	0
net decrease in cash and cash equivalents																-11,698,000
realized loss from sale of short-term investments														101,000
net (decrease) in cash and cash equivalents
issuance of common stock pursuant to stock option exercises																1,000		0	4,000	4,000
unpaid deferred offering costs included in accounts payable and accrued liabilities
pik interest paid on repayment of term loan
change in fair value of derivative instrument
loss on extinguishment of convertible notes
proceeds from debt
payment of debt issuance costs
proceeds from issuance of redeemable convertible preferred stock, net of issuance costs
issuance of convertible notes, net of issuance costs
conversion of convertible notes and accrued interest into preferred stock
extinguishment of derivative liability
issuance of redeemable convertible preferred stock warrants in connection with the new term loan
unpaid debt issuance costs included in accounts payable and accrued liabilities
payment of redeemable convertible preferred stock issuance costs

NeuroPace Inc(NASDAQ:NPCE)

NeuroPace Inc
(NASDAQ:NPCE)