CeriBell reported 30% third-quarter revenue growth, supported by higher use of its EEG system in existing accounts and continued customer additions. The medical technology company also raised its 2026 revenue outlook, while reporting a wider net loss as it invested in commercial expansion, product development and other costs.
The quarter brought several product milestones: CeriBell fully launched its delirium-monitoring solution after a commercial pilot and received FDA clearance for additional quantitative EEG analysis capabilities.
Key details
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Revenue reached $29.3 million, up from $22.6 million a year earlier. Product revenue rose 31% to $22.2 million, while subscription revenue increased 28% to $7.1 million, reflecting growth in the installed base of Clarity subscriptions.
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Growth came from both existing and new customers. CeriBell ended September with 747 active accounts after adding a record 35 net new customers during the quarter. The company also reported double-digit year-over-year growth in utilization at existing accounts.
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Gross margin improved to 90%, from 88%. Gross profit was $26.3 million, compared with $19.9 million a year earlier. CeriBell attributed the margin gain to manufacturing cost reductions and its fully operational manufacturing line in Vietnam.
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Operating expenses rose 36% to $46.9 million. The company cited investment in its commercial organization, preparation for the delirium product launch, research and development for its next-generation hardware and algorithms, clinical studies, stock-based compensation, and legal costs tied to intellectual property enforcement.
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The net loss widened to $21.4 million, or $0.55 per share, from $13.5 million, or $0.37 per share, in the year-ago quarter. Adjusted EBITDA loss, a non-GAAP measure, increased to $12.1 million from $9.2 million.
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CeriBell had $117.5 million in cash, cash equivalents and marketable securities at quarter-end. In August, it also entered a credit facility offering up to $60 million in committed capital: a $30 million term loan and a $30 million revolving facility. A further $25 million is available only if the lender chooses to provide it.
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The company raised its 2026 revenue forecast to $115 million–$117 million, representing approximately 29%–31% growth over 2025. The updated outlook reflects momentum in its core business and does not assume material contributions from its neonatal, pediatric or delirium products.
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Product development advanced: CeriBell completed the full launch of its delirium-monitoring solution following a successful commercial pilot and received FDA clearance for quantitative EEG trending and amplitude-integrated EEG analysis. CEO Jane Chao also pointed to an upcoming new hardware platform, without giving a specific launch date.
Plain-English implications
CeriBell is growing revenue and improving gross margin, but its spending is rising faster than sales, and its net and adjusted EBITDA losses have widened. The raised outlook is based on the core business rather than material revenue from the newer delirium, neonatal or pediatric offerings.