NASDAQ · ECOR

electroCore, Inc.

Healthcare · Medical - Devices

$12.53▲ 4.42% ($0.53)today

As of 1:11 PM ET

52-week

$4.41$12.70

Market cap

$112.92M

P/E

-7.37

EPS (TTM)

-$1.57

Next earnings

Nov 4, 2026

What the market price implies · Reverse DCF

To support a price of $12.53, this model requires revenue to grow by 20.57%/yr over the next 10 years, compounded annually.

Historical revenue grew by 55.7%/yr over the past 4 years. The required annual growth rate is 35.12 percentage points lower.

Selected forecast · Base scenario

19.61%/yr · actual 10-year annualized revenue growth

Year 1 growth: 40%

Market-implied · Base operating assumptions + edited margins

20.57%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$12.53

Estimated value / share

$11.75

Base scenario

This estimate is 6.21% below the price used.

USD · TTM ending 2026-06-30

Year 1 growth 40% · Ending margin 0% · Discount rate 10.7%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 22, 2026, 5:11 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 22, 2026, 5:12 PM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Fundamentals are supporting the moveModerate confidence

1Y Price: 139.94%Revenue (TTM): 33.45%FCF (TTM): -27.25%P/S: 48th pct

What changed

The stock rose 139.94% over the last year. Revenue grew 33.45% over the trailing twelve months. Operating margin moved from -47.11% to -37.64%. Free cash flow declined 27.25% over the trailing twelve months.

What the market seems to be pricing

The stock move broadly lines up with stronger business momentum, and the shares are still only around the 48th percentile of their historical P/S range.

What would invalidate this read

Operating margin is at -37.64%. Revenue grew 33.45% — this thesis depends on that trajectory holding. Despite the price move, free cash flow fell 27.25%, which is worth watching as a leading indicator of future pressure. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.

Performance

Return analysis

Company profile

electroCore, Inc. is a commercial-phase medical device enterprise whose focus lies in developing and bringing to market a variety of non-invasive vagus nerve stimulation (nVNS) therapies.

CEOThomas J. Errico

SectorHealthcare

IndustryMedical - Devices

Employees83

IPO dateJun 22, 2018

https://www.electrocore.com

Market multiples

Forward P/E—

EV/EBITDA-3.46

Enterprise value$40.46M

Stock splits

Feb 15, 2023↓ Reverse

Every 15 shares became 1

-93%

Profitability & growth

Revenue growth28.03%

Gross margin (FY2025)86.75%▲1.8ppvs FY2024

Operating margin (FY2025)-41.06%▲7.2ppvs FY2024

ROEN/A

Analyst consensus

RatingBuy

Target price—

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 4, 2026

Q4 FY26 · EPS est -$0.26 · Revenue est $10.93M

View

NASDAQ · ECOR

electroCore, Inc.

Healthcare · Medical - Devices

$12.53▲ 4.42% ($0.53)today

As of 1:11 PM ET

52-week

$4.41$12.70

Market cap

$112.92M

P/E

-7.37

EPS (TTM)

-$1.57

Next earnings

Nov 4, 2026

What the market price implies · Reverse DCF

To support a price of $12.53, this model requires revenue to grow by 20.57%/yr over the next 10 years, compounded annually.

Historical revenue grew by 55.7%/yr over the past 4 years. The required annual growth rate is 35.12 percentage points lower.

Selected forecast · Base scenario

19.61%/yr · actual 10-year annualized revenue growth

Year 1 growth: 40%

Market-implied · Base operating assumptions + edited margins

20.57%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$12.53

Estimated value / share

$11.75

Base scenario

This estimate is 6.21% below the price used.

USD · TTM ending 2026-06-30

Year 1 growth 40% · Ending margin 0% · Discount rate 10.7%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 22, 2026, 5:11 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 22, 2026, 5:12 PM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Fundamentals are supporting the moveModerate confidence

1Y Price: 139.94%Revenue (TTM): 33.45%FCF (TTM): -27.25%P/S: 48th pct

What changed

What the market seems to be pricing

The stock move broadly lines up with stronger business momentum, and the shares are still only around the 48th percentile of their historical P/S range.

What would invalidate this read

Performance

Return analysis

Company profile

electroCore, Inc. is a commercial-phase medical device enterprise whose focus lies in developing and bringing to market a variety of non-invasive vagus nerve stimulation (nVNS) therapies.

CEOThomas J. Errico

SectorHealthcare

IndustryMedical - Devices

Employees83

IPO dateJun 22, 2018

https://www.electrocore.com

Market multiples

Forward P/E—

EV/EBITDA-3.46

Enterprise value$40.46M

Stock splits

Feb 15, 2023↓ Reverse

Every 15 shares became 1

-93%

Profitability & growth

Revenue growth28.03%

Gross margin (FY2025)86.75%▲1.8ppvs FY2024

Operating margin (FY2025)-41.06%▲7.2ppvs FY2024

ROEN/A

Analyst consensus

RatingBuy

Target price—

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 4, 2026

Q4 FY26 · EPS est -$0.26 · Revenue est $10.93M

View