electroCore Announces First Quarter 2026 Financial Results First quarter 2026 net sales of $9.6 million, an increase of 43% over $6.7 million in the first quarter 2025 Net loss of $5.3 million with Adjusted EBITDA net lo

Announces First Quarter 2026 Financial Results

quarter 2026 net sales of $9.6 million, an increase of 43% over $6.7 million in the first quarter 2025

loss of $5.3 million with Adjusted EBITDA net loss improving 24%

prior-year period to $2.3 million

to host a conference call and webcast today, May 6, 2026, at 4:30 pm EDT

NJ, May 6, 2026 (GLOBE NEWSWIRE) - electroCore, Inc. (Nasdaq: ECOR) ("electroCore" or the "Company"), a

bioelectronic technology company, today announced financial results for the first quarter ended March 31, 2026. The Company reported

record quarterly revenue of $9.6 million, an increase of approximately 43% year-over-year, driven by continued growth in U.S. prescription

sales in the U.S. Department of Veterans Affairs ("VA") and direct-to-consumer Truvaga sales. The Company is reaffirming

its full-year 2026 revenue guidance of approximately 30% annual growth over full-year 2025.

first quarter results reflect what we believe is a meaningful inflection point for electroCore," said Joshua Lev, Interim President

and Chief Financial Officer of electroCore. "Quarterly revenue of $9.6 million was our highest ever and was accomplished with 87%

gross profit margin. Net loss for the quarter was $5.3 million, however, after removing items such as non-recurring expenses associated

with the leadership changes, we exhibited a 24% year-over-year improvement in adjusted EBITDA loss, demonstrating the operating leverage

we expect to see as our platform scales. Each of our prescription channels - gammaCore in the VA and our Quell Fibromyalgia franchise

acquired from NeuroMetrix, Inc. ("NURO") last year - is contributing meaningfully, while our Truvaga consumer wellness

brand continues to grow. With the leadership transition substantially behind us and Michael Fox on board to accelerate revenue growth,

we believe we are well-positioned to execute against our full-year guidance."

Operational Highlights

Affairs Channel Continues to Drive Prescription Growth

VA continued to be the Company's largest growth driver in the first quarter. Prescription gammaCore revenue grew approximately

26% year-over-year while the number of VA facilities which have purchased prescription gammaCore products increased to 200, up from 175

a year ago. Approximately 15,000 VA patients have received a gammaCore device, representing approximately 2.5% penetration of the estimated

addressable VA headache market.

of the Quell product line surpassed $1.0 million in quarterly revenue for the first time in the first quarter of 2026, bringing cumulative

Quell revenue to approximately $2.7 million since the acquisition from NURO in May 2025, of which $2.5 million of Quell Fibromyalgia

has been sold into the VA.

Expands Internationally with Improved Marketing Efficiency

revenue grew approximately 38% year-over-year to $1.5 million. Return on advertising spend (ROAS) improved approximately 14% sequentially

to approximately 2.37x, reflecting an expanded network of influencer and affiliate partnerships and demonstrating improved marketing

efficiency. The Q1 ROAS means, that for every $1.00 spent on Truvaga-related media, the Company generated $2.37 of revenue. In addition,

the Company launched Truvaga in the United Kingdom in January 2026, marking the brand's first expansion outside the United States.

Advances with Quell Relief Launch and Next-Generation Mobile App

Company expects to launch Quell Relief for lower extremity pain later in the second half of 2026 and is developing a next-generation

mobile application designed to complement Truvaga and Quell, with the potential to support future recurring revenue opportunities.

Progress Towards Future Indications

body of evidence supporting the therapeutic potential of non-invasive vagus nerve stimulation, or nVNS, continues to expand. A new publication

in Frontiers in Neuroscience titled "Adjunctive non-invasive vagus nerve stimulation for chronic mild traumatic brain injury with

comorbid post-traumatic stress disorder: a post-hoc analysis" highlighted findings on the potential benefits of adjunctive non-invasive

vagus nerve stimulation in patients with mild traumatic brain injury and post-traumatic stress disorder, or PTSD.

approximately 20 participants have been enrolled in a clinical study conducted by Acacia Clinics in collaboration with the Vagus Nerve

Society designed to evaluate the safety and effectiveness of electroCore's gammaCore device as an adjunctive treatment for

symptoms associated with PTSD.

Fox Joins as Chief Operating Officer

Fox joined electroCore as Chief Operating Officer in April 2026, bringing more than 35 years of commercial leadership experience across

complex healthcare markets, including extensive work within federal systems and the VA.

electroCore at this stage of the Company's growth was a clear opportunity," said Michael Fox, Chief Operating Officer of

electroCore. "The platform is generating meaningful revenue with gross margins that compare favorably to many medical device peers,

and the operating leverage opportunity is substantial. My focus will be on scaling our commercial organization efficiently - ensuring

that incremental revenue translates into bottom-line improvement."

Quarter 2026 Financial Results and Select Guidance

the first quarter of 2026, electroCore reported net sales of $9.6 million compared to $6.7 million during the same period in 2025, an

increase of approximately 43% over the prior year. The increase of $2.9 million was primarily driven by growth in net sales of prescription

(Rx) gammaCore to the VA, sales of Quell Fibromyalgia products acquired from NURO in May 2025 and also sold to the VA, and continued

growth in net sales of the Company's nonprescription general wellness Truvaga products. The Company expects that the majority of

fiscal year 2026 revenue will continue to come from the VA.

profit increased $2.7 million to $8.4 million for the three months ended March 31, 2026 compared to the three months ended March 31,

2025. The increase in gross profit is attributable to the increased net sales and favorable product mix. Gross margin expanded to 87%

for the three months ended March 31, 2026, compared to 85% for the prior year period.

and development expense was $0.7 million in the first quarter of 2026, compared to $0.6 million in the first quarter of 2025. The increase

was primarily due to increased studies and grants.

general and administrative expense was $12.9 million for the three months ended March 31, 2026, compared to $8.9 million in the prior

year period. Sales and marketing increased $1.8 million from the prior year. The increase in sales and marketing expense was primarily

driven by approximately $1.6 million of variable expenses that supported the $2.9 million increase in net sales, reflecting the operating

leverage embedded in the Company's platform as it scales.

and administrative expense increased $2.3 million from the prior year. The year-over-year increase included approximately $1.9 million

of one-time leadership transition expenses as well as approximately $0.3 million of legal fees related to the ongoing litigation.

operating expenses in the three months ended March 31, 2026 were $13.7 million, compared to $9.5 million in the three months ended March

net loss in the first quarter of 2026 was $5.3 million, compared to $3.9 million in the first quarter of 2025. The increase in GAAP net

loss was primarily attributable to the $1.9 million of one-time expense associated with the leadership transition. Net loss per share

for the first quarter of 2026 was $0.59, compared to $0.47 in the first quarter of 2025. Excluding $1.9 million of expense associated

with the leadership transition, net loss per share for the first quarter of 2026 was $0.37.

EBITDA net loss in the first quarter of 2026 was $2.3 million, compared to an adjusted EBITDA net loss of $3.1 million in the first quarter

of 2025, an improvement of approximately $0.7 million, or 24%, year-over-year.

EBITDA net loss is a non-GAAP financial measure. See "Use of Non-GAAP Financial Measure" below for additional information

and a reconciliation to GAAP net loss.

cash, cash equivalents, and marketable securities at March 31, 2026, was approximately $8.8 million, compared to approximately $11.6

million at December 31, 2025.

the full year of 2026, the Company is reiterating revenue guidance of approximately 30% annual revenue growth over 2025.

and Conference Call Information

management team will host a webcast and conference call today, May 6, 2026, beginning at 4:30 PM EDT.

must register here to receive login credentials and be able to ask questions on the call. All attendees who prefer to participate

in "Listen Only" mode may dial in as follows:

archived webcast of the event will be available on the "Investors" section of the Company's website at: www.electrocore.com.

Inc. and its subsidiaries ("electroCore" or the "Company") is a bioelectronic technology company whose mission

is to improve health and quality of life through innovative non-invasive bioelectronic technologies. The Company's leading prescription

products are gammaCore non-invasive vagus nerve stimulation, or nVNS, indicated for the treatment of primary headache conditions, and

Quell Fibromyalgia. The Company also commercializes its handheld and personal-use Truvaga and TAC-STIM nVNS products, which utilize

bioelectronic technologies to promote general wellness and human performance.

more information, visit www.electrocore.com.

press release and other written and oral statements made by representatives of electroCore may contain forward-looking statements within

the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to,

statements about, electroCore's business prospects and clinical and product development plans; its pipeline or potential markets

for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; business prospects around its

prescription gammaCore product, general wellness Truvaga and TAC-STIM products, Quell products, and other potential new products and

markets; revenue guidance for the full year of 2026; the Company's ability to continue as a going concern;, the Company's

ability to raise additional capital; and the Company's liquidity position, respectively, and other statements that are not historical

in nature, particularly those that utilize terminology such as "anticipates," "will," "expects,"

"believes," "designed," "intends," and other words of similar meaning, derivations of such words