electroCore Announces Second Quarter 2025 Financial Results Net sales of $7.4 million increased 20% vs. Q2'2024; YTD net sales of $14.1 million increased 22% vs. first half of 2024 Cash, cash equivalents, restricted cash

Announces Second Quarter 2025 Financial Results

sales of $7.4 million increased 20% vs. Q2'2024; YTD net sales of $14.1 million increased 22% vs. first half of 2024

cash equivalents, restricted cash, and marketable securities of $7.4 million as of June 30, 2025

to host a conference call and webcast today, August 6, 2025 at 4:30 p.m. EDT

NJ, August 6, 2025 (GLOBE NEWSWIRE) - electroCore, Inc. (Nasdaq: ECOR) ("electroCore" or the "Company"),

a commercial-stage bioelectronic technology company, today announced financial results for the three and six months ended June 30, 2025.

Veterans Administration market returned to normalized growth in the second quarter, validating our confidence in the long-term relevance

of our solutions for the VA market and enabling a record revenue quarter and 20% growth" commented Dan Goldberger, CEO of electroCore,

Inc. "We significantly reduced our cash used to approximately $614,000 in the second quarter of 2025 and successfully closed the

NeuroMetrix, Inc. ("NURO) acquisition with the NURO integration completed ahead of schedule."

Quarter 2025 Financial Results and Select Guidance

the three months ended June 30, 2025, electroCore's net sales totaled $7.4 million compared to $6.1 million in the same period

of 2024, a 20% year-over-year increase. The $1.2 million increase was driven primarily by higher sales of prescription (Rx) products

sold into the United States Department of Veterans Affairs (VA), and growth in the Company's nonprescription general wellness products,

TruvagaTM and TAC-STIM.

profit in the three months ended June 30, 2025 was $6.4 million, or 87% gross margin, as compared to $5.3 million, or 86% gross margin

for the three months ended June 30, 2024.

operating expenses in the three months ended June 30, 2025 were approximately $9.9 million as compared to $7.9 million in the three months

ended June 30, 2024.

and development expense in the second quarter of 2025 was $511,000, as compared to $635,000 in the second quarter of 2024. This decrease

was primarily due to reduced development costs in the three months ended June 30, 2025, as compared to the three months ended June 30,

2024. For the remainder of 2025, the Company expects its research and development expense to be higher than the comparable periods in

general and administrative expense was $9.4 million in the three months ended June 30, 2025 as compared to $7.3 million in the three

months ended June 30, 2024. This increase was primarily due to the greater investment in selling and marketing costs consistent with

the increase in sales, $548,000 of bad debt expense associated with a TAC-STIM receivable, increased expenses associated with professional

fees, and increased rent expense associated with a lease expansion. For the remainder of 2025, the Company plans on continuing to make

targeted investments in sales and marketing to support its commercial efforts, particularly around sales and marketing efforts across

all major U.S. channels.

other expense was $165,000 for the three months ended June 30, 2025, which consisted primarily of non-recurring expenses, including professional

fees in connection with the NURO acquisition, as compared to total other expense of $64,000 for the three months ended June 30, 2024,

which consisted primarily of a one-time expense associated with termination of an agreement.

net loss in the second quarter of 2025 was $3.7 million, or a loss of $0.44 per share, as compared to GAAP net loss of $2.7 million net

loss, or a loss of $0.38 per share, in the second quarter of 2024. The increase in GAAP net loss is primarily attributable to an increase

in selling, general and administrative expense, offset by an increase in gross profit.

EBITDA net loss in the second quarter of 2025 was $2.4 million as compared to adjusted EBITDA net loss of $1.9 million in the second

Company defines adjusted EBITDA net loss as GAAP net loss, adjusting to exclude non-operating gains/losses, depreciation and amortization,

stock-compensation expense, inventory reserve charges, accounts receivable reserve charges, non-recurring recruiting fees, severance

and other related charges, legal fees associated with stockholders' litigation, benefit from income taxes, and non-recurring transaction

charges associated with the acquisition of NURO, or other one-time charges. A reconciliation of GAAP net loss to non-GAAP adjusted EBITDA

net loss is provided in the financial statement table below.

cash equivalents, restricted cash and marketable securities at June 30, 2025 totaled approximately $7.4 million, as compared to approximately

$12.2 million as of December 31, 2024. On August 4, 2025, the Company raised net proceeds of approximately $7.2 million through a term

the full year of 2025, the Company expects total revenue to be approximately $30.0 million and net cash usage for the remainder of the

year to be between approximately $3.9 and $4.4 million.

and Conference Call Information

management team will host a conference call today, August 6, 2025, beginning at 4:30 PM EDT. Investors must register at the following

link to receive login credentials and be able to ask questions on the call: Q2 2025 Financial Results Weblink.

who prefer to participate in "Listen Only" mode may dial in as follows:

dial-in numbers can be found here: Additional ECOR Q2 2025 Dial In Numbers

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 commercial stage bioelectronic technology company

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

two leading prescription products to treat chronic pain syndromes through non-invasive neuromodulation technology are gammaCore non-invasive

vagus nerve stimulation, or nVNS, and the Quell neurostimulator. Additionally, the Company commercializes its TruvagaTM

products, handheld, and personal use nVNS products utilizing 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 and net cash usage guidance for the full year 2025, and other statements that are not historical in nature, particularly

those that utilize terminology such as "anticipates," "will," "expects," "believes,"

"intends," and other words of similar meaning, derivations of such words and the use of future dates. Actual results could

differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability

to raise the additional funding needed to continue to pursue electroCore's business and product development plans, the inherent

uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore, TAC-STIM, and Truvaga,

Quell, electroCore's results of operations and financial performance, inflation and currency fluctuations, and any expectations

electroCore may have with respect thereto, competition in the industry in which electroCore operates and overall economic and market

conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update

the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements,

except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor

disclosure set forth in the reports and other documents electroCore files with the SEC available at www.sec.gov.

Consolidated Statements of Operations

thousands, except per share data)

Consolidated Balance Sheet Information

Use of Non-GAAP Financial Measure

Company is presenting adjusted EBITDA net loss because it believes this measure is a useful indicator of its operating performance. Management

uses this non-GAAP measure principally as a measure of the Company's core operating performance and believes that this measure

is useful to investors because it is frequently used by the financial community, investors, and other interested parties to evaluate

companies in the Company's industry. The Company also believes that this measure is useful to its management and investors as a

measure of comparative operating performance from period to period. Additionally, the Company believes its use of non-GAAP adjusted EBITDA

net loss from operations facilitates management's internal comparisons to historical operating results by factoring out potential

differences caused by gains and charges not related to its regular, ongoing business, including, without limitation, non-cash charges

and certain large and unpredictable charges such as restructuring expenses.

Company defines adjusted EBITDA net loss as GAAP net loss, adjusting to exclude non-operating gains/losses, depreciation and amortization,

stock-compensation expense, inventory reserve charges, accounts receivable reserve charges, non-recurring recruiting fees, severance

and other related charges, legal fees associated with stockholders' litigation, benefit from income taxes, and non-recurring transaction

charges associated with the acquisition of NeuroMetrix, or other one-time charges. A reconciliation of GAAP net loss to non-GAAP adjusted

EBITDA net loss is provided in the financial statement table below.

Company's use of a non-GAAP measure has limitations as an analytical tool, and you should not consider it in isolation or as a

substitute for analysis of its results as reported under GAAP. Some of these limitations are: (i) the non-GAAP measure does not reflect

interest or tax payments that may represent a reduction in cash available; (ii) although depreciation and amortization are non-cash charges,

the assets being depreciated and amortized may have to be replaced in the future, and the non-GAAP measure does not reflect cash capital