CBLL Ceribell, Inc.

Overview and Growth

In fiscal 2025, Ceribell, Inc. recorded $89.06M of revenue, net loss of $53.41M, and an operating cash outflow of $40.81M. The $89.06M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $65.44M in fiscal 2024, revenue recorded a 36.1% year-over-year increase. Diluted earnings per share were -$1.46, translating the period’s attributable earnings into the amount reported for each diluted share. The diluted weighted-average share count was 36.54M, linking total earnings with the per-share result received by shareholders. At period end, total assets were $195.80M, framing the scale of the company’s operating and financing commitments. Revenue equaled 0.45x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Gross profit was $78.27M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 87.9% of revenue, showing how much of the top line remained after direct costs. The reported operating result was an operating loss of $58.40M, reflecting costs that exceeded gross profit. The operating loss equaled 65.6% of revenue, showing the scale of the operating deficit relative to sales. The bottom-line result was a net loss of $53.41M after operating, financing, tax, and other recognized items. Measured against revenue, the bottom-line deficit represented 60.0% after all recognized items. EBITDA was negative $57.40M, showing a deficit before interest, taxes, depreciation, and amortization. The pretax result was a loss of $53.41M, establishing the deficit before tax effects. The pretax loss equaled 60.0% of revenue, measuring the pre-tax deficit against sales. The company recognized $0.00 of income tax for the period, completing the transition from pretax income to net income. The loss-to-equity relationship was 34.4%, placing the bottom-line deficit against shareholder capital. The loss-to-assets relationship was 27.3%, placing the bottom-line deficit against the company’s resource base. Compared with a $40.45M net loss in fiscal 2024, the current loss increased to $53.41M.

Liquidity and Capital Structure

Total assets were $195.80M, supported by $40.47M of liabilities and $155.34M of shareholder equity. The near-term balance sheet paired $186.72M of current assets with $19.19M of current liabilities at the reporting date. At 9.73x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $40.48M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 210.9%, excluding receivables and other current assets. Equity equaled 79.3% of assets, showing the shareholder-capital layer within the company’s balance sheet. The liabilities-to-assets relationship was 20.7%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 20.7% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $225.41M in fiscal 2024, the current asset base moved 13.1% and finished lower. Reported equity changed 18.7% from $191.16M in fiscal 2024, placing the current capital base lower year over year. The reported cash balance changed 79.2% from $194.37M in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

Operating activities used $40.81M of cash, resulting in an operating cash outflow for the year. Capital spending of $767.00K added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Operating cash flow and capital spending combined to leave a $41.58M cash deficit after capital spending. Free-cash-flow margin was -46.7%, reflecting a cash deficit equal to 46.7% of revenue after capital spending. Relative to total assets, the post-investment cash deficit measured 21.2%.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.