Overview
- IndustrySurgical & Medical Instruments & Apparatus1
- HeadquartersWaltham, Massachusetts1
- Incorporated inDE2
- Business address1000 Winter Street, Waltham, Ma 024512
- Filer categoryNon-accelerated filer, Smaller reporting company2
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Denshi Co., Ltd. (Fukuda) for the sale of the Company’s DPNCheck business in Japan (the Fukuda Asset Purchase Agreement).3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2024
55.4%Gross margin4
-289.6%Operating margin4
-257.4%Net margin4
-48.6%Revenue growth, 20244
-54.5%Return on equity4
Where the money goes
Where each dollar of revenue went, fiscal 2024
- Cost of revenue43¢$1.4M
- Research and development57¢$1.8M
Out of $3.0M in revenue.4 The company lost money this year.
Financial statements
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Revenue | $16.1M5 | $9.3M6 | $7.4M7 | $8.3M8 | $8.3M9 | $5.9M4 | $3.0M4 |
| Cost of revenue | $8.7M5 | $7.0M6 | $2.1M7 | $2.3M8 | $2.5M9 | $2.0M4 | $1.4M4 |
| Gross profit | $7.4M5 | $2.2M6 | $5.2M7 | $5.9M8 | $5.8M9 | $3.9M4 | $1.7M4 |
| Research and development | $5.1M5 | $3.1M6 | $2.4M7 | $2.6M8 | $3.2M9 | $2.8M4 | $1.8M4 |
| Operating expenses | $8.2M8 | $10.5M9 | $11.1M4 | $10.5M4 | |||
| Operating income | -$12.3M5 | -$11.5M6 | -$2.1M7 | -$2.3M8 | -$4.7M9 | -$7.2M4 | -$8.8M4 |
| Income tax | $05 | $05 | |||||
| Net income | $23.6K5 | -$3.8M6 | -$2.1M7 | -$2.3M8 | -$4.4M9 | -$6.5M4 | -$7.8M4 |
| Earnings per share | $0.035 | -$3.905 | -$0.697 | -$0.458 | -$4.979 | -$6.274 | -$3.964 |
| Earnings per share (diluted) | $0.025 | -$3.905 | -$0.697 | -$0.458 | -$4.979 | -$6.274 | -$3.964 |
| Shares (weighted, basic) | 5.1M shares8 | 889.5K shares9 | 1.0M shares4 | 2.0M shares4 | |||
| Shares (weighted, diluted) | 5.1M shares8 | 889.5K shares9 | 1.0M shares4 | 2.0M shares4 |
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Cash | $6.8M5 | $3.1M6 | $5.2M7 | $22.6M8 | $4.3M9 | $1.7M4 | $1.4M4 |
| Receivables | $310.8K8 | $646.8K9 | $518.8K4 | $192.9K4 | |||
| Inventory | $706.6K8 | $1.6M9 | $1.6M4 | $1.3M4 | |||
| Current assets | $11.6M5 | $5.4M6 | $7.1M7 | $24.2M8 | $24.1M9 | $20.9M4 | $15.0M4 |
| Property, plant and equipment | $198.7K8 | $165.6K9 | $293.4K4 | $199.4K4 | |||
| Total assets | $14.0M5 | $6.9M6 | $8.0M7 | $24.9M8 | $24.7M9 | $21.4M4 | $15.3M4 |
| Accounts payable | $284.0K8 | $368.1K9 | $215.5K4 | $363.3K4 | |||
| Current liabilities | $6.6M5 | $3.4M6 | $2.3M7 | $1.4M8 | $1.1M9 | $1.2M4 | $1.0M4 |
| Total liabilities | $7.9M5 | $4.4M6 | $2.7M7 | $1.7M8 | $1.3M9 | $1.3M4 | $1.0M4 |
| Retained earnings | -$199.2M8 | -$203.6M9 | -$210.1M4 | -$217.9M4 | |||
| Shareholders’ equity | $6.1M6 | $2.5M7 | $5.2M8 | $23.2M9 | $23.4M4 | $20.1M4 | $14.3M4 |
| Shares outstanding | 738.0K shares5 | 1.4M shares6 | 3.8M shares7 | 6.7M shares8 | 971.5K shares9 | 1.5M shares4 | 2.1M shares4 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Cash from operations | $2.9M5 | -$3.6M6 | -$2.1M7 | -$2.1M8 | -$5.3M9 | -$6.1M4 | -$7.1M4 |
| Depreciation and amortization | $76.4K8 | $49.4K9 | $55.7K4 | $94.0K4 | |||
| Stock-based compensation | $698.2K8 | $477.1K9 | $699.5K4 | $729.3K4 | |||
| Capital spending | $143.6K5 | $48.1K6 | $07 | $131.7K8 | $23.2K9 | $183.5K4 | |
| Free cash flow | $2.7M | -$3.7M | -$2.1M | -$2.2M | -$5.3M | -$6.3M | |
| Cash from investing | -$131.7K8 | -$16.8M9 | $1.2M4 | $5.3M4 | |||
| Cash from financing | $19.6M8 | $3.9M9 | $2.3M4 | $1.5M4 |
Corporate structure
NeuroMetrix, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of NeuroMetrix, Inc.
- Radoff Bradley Louis Filed SCHEDULE 13G/A on NeuroMetrix, Inc., latest Aug 13, 2025 (3 filings since Sep 27, 2024)
- Ephraim G. Fields Filed SCHEDULE 13D/A on NeuroMetrix, Inc., latest Dec 19, 2024 (2 filings since Feb 27, 2024)
- RS Fund LP Filed SCHEDULE 13D/A on NeuroMetrix, Inc., latest Apr 1, 2024 (4 filings since Feb 20, 2024)
- Topline Capital Management, LLC Filed SC 13G/A on NeuroMetrix, Inc., latest Feb 13, 2023 (2 filings since Feb 14, 2022)
- NeuroMetrix, Inc. Waltham, Massachusetts
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What NeuroMetrix, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $1.0M4 Dec 31, 2024 | $1.0M4 Dec 31, 2023 | 0% |
| Accumulated depreciation | $830.8K4 Dec 31, 2024 | $736.7K4 Dec 31, 2023 | +12.8% |
| Property and equipment, net | $199.4K4 Dec 31, 2024 | $293.4K4 Dec 31, 2023 | −32.0% |
| Operating-lease assets (leased space) | $111.2K4 Dec 31, 2024 | $250.2K4 Dec 31, 2023 | −55.5% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $1.4M4 Dec 31, 2024 | $1.7M4 Dec 31, 2023 | −17.6% |
| Debt securities available for sale | $11.7M4 Dec 31, 2024 | $16.3M4 Dec 31, 2023 | −28.3% |
| Debt securities held to maturity | $09 Dec 31, 2023 | $16.9M9 Dec 31, 2022 | −100.0% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $1.3M4 Dec 31, 2024 | $1.6M4 Dec 31, 2023 | −13.6% |
| Raw materials | $1.1M4 Dec 31, 2024 | $1.2M4 Dec 31, 2023 | −1.7% |
| Finished goods | $215.9K4 Dec 31, 2024 | $408.0K4 Dec 31, 2023 | −47.1% |
Properties, in its own words
Our headquarters, engineering activities, and manufacturing and fulfillment activities are located in an approximately 10,000 square foot leased facility in Woburn, Massachusetts. This facility is adequate for our needs during the foreseeable future.
Item 2 of the 10-K filed Mar 31, 2025.3
Leadership
Who has led NeuroMetrix, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerShai Gozani Jan 18, 2006 to now12
- PresidentShai Gozani Jan 18, 2006 to now12
- Chief financial officerThomas T. Higgins Sep 14, 2009 to now13
- Chief operating officerKrishnamurthy Balachandran Mar 13, 2012 to Apr 29, 201314
- Chief operating officerGary Gregory Mar 1, 2006 to Mar 29, 200715
Board members and other officers (18)
- Senior VP, ConsumerFrancis X. McGillin Sep 5, 2014 to Dec 30, 201916
- Sr. VP and GM, InternationalKrishnamurthy Balachandran May 21, 2010 to Feb 3, 201117
- Sr. VP, Global SalesWalter Christensen May 6, 2009 to Feb 2, 201118
- Principal Finance&Acct.officerJoseph A. Calo Jul 25, 2008 to Feb 17, 200919
- Chief Operationg OfficerGary Gregory Jan 17, 2006 to Apr 3, 200820
- Snr VP Information TechnologyGuy Daniello Jan 17, 2006 to Apr 28, 201421
- Board memberThomas T. Higgins Feb 5, 2025 to now22
- Board memberJoshua Horowitz Apr 22, 2024 to now23
- Board memberFluegel M. Bradley Jul 6, 2022 to now24
- Board memberAvermaete David Van Oct 2, 2013 to now25
- Board memberNancy E. Katz Dec 17, 2010 to now26
- Board memberW. Mark Lortz Feb 17, 2009 to Feb 17, 200927
- Board memberTimothy R. Surgenor Apr 3, 2009 to May 2, 201828
- Board memberJonathan T. Lord Md. Jan 3, 2006 to Jan 3, 200629
- Board memberAllen J. Hinkle Jan 17, 2006 to Jun 1, 201630
- Board memberShai Gozani Jan 18, 2006 to now12
- Board memberCharles R. Lamantia Feb 8, 2006 to Feb 3, 201131
- Board memberDavid Goodman Mar 1, 2006 to now32
Timeline
- May 2, 20258-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer33
- Mar 25, 20258-K Shareholder vote34
- Jan 23, 20258-K Entered a material agreement35
- Dec 30, 20248-K Executive or director change36
- Dec 17, 20248-K Entered a material agreement; Regulation FD disclosure37
- Nov 5, 20248-K Results of operations38
- Aug 6, 20248-K Results of operations39
- May 1, 20248-K Shareholder vote40
- Apr 19, 20248-K Executive or director change; Other events41
- Apr 5, 20248-K Executive or director change42
- Feb 27, 20248-K Entered a material agreement; Change to shareholders' rights43
- Feb 27, 20248-K Entered a material agreement44
- Jan 18, 2006New chief executive Shai Gozani becomes CEO12
Calendar
When it reported results
- Nov 5, 2024Reported quarterly or annual results38
- Aug 6, 2024Reported quarterly or annual results39
- Feb 22, 2024Reported quarterly or annual results45
- Oct 26, 2023Reported quarterly or annual results46
- Jul 27, 2023Reported quarterly or annual results47
- May 3, 2023Reported quarterly or annual results48
- Feb 23, 2023Reported quarterly or annual results49
- Oct 20, 2022Reported quarterly or annual results50
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
190 filings to the SEC since October 2021: 5 annual reports, 10 quarterly reports, 32 major events, 69 insider forms, 11 large holders, 63 other. The latest 20:
- Aug 13, 2025SCHEDULE 13G/A EDGAR
- May 12, 202515-12G EDGAR
- May 5, 2025EFFECT EDGAR
- May 5, 2025EFFECT EDGAR
- May 5, 2025EFFECT EDGAR
- May 5, 2025EFFECT EDGAR
- May 5, 2025EFFECT EDGAR
- May 5, 2025EFFECT EDGAR
- May 5, 2025EFFECT EDGAR
- May 5, 2025EFFECT EDGAR
- May 5, 2025EFFECT EDGAR
- May 5, 20254 EDGAR
- May 5, 20254 EDGAR
- May 5, 20254 EDGAR
- May 5, 20254 EDGAR
- May 5, 20254 EDGAR
- May 5, 20254 EDGAR
- May 2, 2025S-8 POS EDGAR
- May 2, 2025S-8 POS EDGAR
- May 2, 2025S-8 POS EDGAR
The 190 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
1 open-market trades by officers, directors and large owners since October 2021: 0 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Apr 22, 2024 | Horowitz JoshuaDirector | Sale | 1,000 | $4.58 | $4.6K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Radoff Bradley LouisSCHEDULE 13G/A, 3 filings Sep 27, 2024 to Aug 13, 202551
- Ephraim G. FieldsSCHEDULE 13D/A, 2 filings Feb 27, 2024 to Dec 19, 202452
- RS Fund LPSCHEDULE 13D/A, 4 filings Feb 20, 2024 to Apr 1, 202453
- Topline Capital Management, LLCSC 13G/A, 2 filings Feb 14, 2022 to Feb 13, 202354
SEC filer profile
How NeuroMetrix, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARNeuroMetrix, Inc.1
- CIK0001289850
- Employer ID (EIN)04-33081803
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company3
- Incorporated inDelaware3
- Fiscal year endsDecember 311
- Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
- SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
- Business address1000 Winter Street, Waltham, MA 024511
- Phone(781) 890-99891
- Shares outstanding2,059,693 shares as of Mar 28, 20253
- Public float$6.9M as of Jun 28, 20243
- AuditorBaker Tilly US, LLP, Tewksbury, Massachusetts PCAOB ID 23; no auditor attestation of internal control over financial reporting3
- On EDGAR sinceMay 13, 20041
- Filings1,150 in all: 4 (408), 8-K (212), 10-Q (62), SC 13G/A (59), 3 (45), SC 13G (34), EFFECT (28), DEF 14A (26)1
All 49 form types
CORRESP (25), S-1/A (25), 10-K (21), S-8 (21), S-8 POS (21), UPLOAD (16), S-3 (14), 424B5 (13), POS AM (11), SD (11), 4/A (9), 424B2 (9), PRE 14A (8), SC 13D/A (8), 424B3 (6), 5 (6), 8-K/A (5), S-3/A (5), SC 13D (5), DEFA14A (4), S-1 (4), 25-NSE (2), 424B4 (2), 8-A12B (2), ARS (2), CT ORDER (2), FWP (2), S-1MEF (2), SCHEDULE 13D/A (2), SCHEDULE 13G/A (2), 10-K/A (1), 15-12G (1), 3/A (1), 424B1 (1), 8-A12G (1), CERTNAS (1), D (1), DEFM14A (1), NT 10-K (1), PREM14A (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Mar 31, 2025
Quarterly report (10-Q) Nov 5, 2024
Proxy statement (DEF 14A) Mar 27, 2024
Latest 8-K (8-K) May 2, 2025
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.0001 par value per share | NURO | Nasdaq |
| Preferred Stock Purchase Rights | Nasdaq |
From the cover page of the 10-K filed Mar 31, 2025 (Section 12(b) of the Exchange Act).3
Risk factors and legal proceedings
The risks NeuroMetrix, Inc. names in Item 1A of its 10-K filed Mar 31, 2025: 41 risks under these headings, as written.3
- Risks Related to the Proposed Merger
- While the Merger Agreement is in effect, we are subject to certain interim covenants.
- The announcement and pendency of the Merger may result in disruptions to our business, and the Merger could divert management’s attention, disrupt our relationships with third parties and employees, and result in negative publicity or legal proceedings, any of which could negatively impact our operating results and ongoing business.
- The Merger may not be completed within the expected timeframe, or at all, for a variety of reasons, including the possibility that the Merger Agreement is terminated, and the failure to complete the Merger could adversely affect our business, results of operations, financial condition and the market price of our common stock.
- Litigation challenging the Merger could prevent the Merger from occurring or adversely affect our business, financial condition or results of operations.
- Risks Related to Our Business
- We have incurred significant operating losses since inception and cannot assure you that we will achieve profitability.
- Our future capital needs are uncertain. Our operations could be curtailed if we are unable to obtain the required additional funding when needed. The terms of any financing may not be advantageous to us.
- We hold an investment portfolio of securities that could experience losses.
- We are focused on growing sales of Quell, our wearable device for chronic pain, and DPNCheck, our test for peripheral neuropathy. We cannot assure you that we will be successful with these products or future product candidates or product enhancements in our development pipeline.
- Our current and future revenue is dependent upon commercial acceptance of our products in the marketplace. If our products are not accepted by prescribers and customers, our operations will be materially and adversely affected.
- If health care providers are unable to obtain sufficient reimbursement or other financial incentives from third-party health care payers related to the use of DPNCheck, their adoption and our future product sales will be materially adversely affected.
The other 31 risks
- The clinical study process is lengthy and expensive with uncertain outcomes. Results of earlier studies may not be predictive of future clinical study results, or the safety profile for such products or products under development.
- We rely on third parties to conduct our clinical trials and perform data collection and analysis, which may result in costs and delays that prevent us from successfully commercializing our product candidates.
- We depend on several single source manufacturers to produce components of our products. Any material adverse changes in our relationships with these manufacturers, or material supply chain delays, could prevent us from delivering products to our customers in a timely manner and may adversely impact our future revenues or costs.
- If our manufacturers are unable to supply us with an adequate supply of product components, we could lose customers, our potential future growth could be limited and our business could be harmed.
- The success of our business depends upon our ability to advance our pipeline products to commercialization.
- Our ability to achieve profitability depends in part on maintaining or increasing our gross margins on product sales which we may not be able to achieve.
- If we lose any of our officers or key employees, our management and technical expertise could be weakened significantly.
- If we are unable to recruit, hire and retain skilled and experienced personnel, our ability to manage and expand our business will be harmed, which would impair our future revenues and profitability.
- Failure to develop or enter into relationships to sell products other than our existing products or enhance our existing products could have an adverse effect on our business prospects.
- If we are unable to develop new products or enhance existing products, we may be unable to attract or retain customers.
- We currently compete, and may in the future need to compete, against other medical device and consumer companies with greater resources, more established distribution channels and other competitive advantages, and the success of these competitors may harm our ability to generate revenues.
- Cybersecurity incidents, security breaches and other disruptions could compromise our information, hinder our ability to perform essential activities, and expose us to financial claims and liabilities, which could cause our business and reputation to suffer.
- If future clinical studies or other articles are published, or physician associations or other organizations announce positions that are unfavorable to our products, our sales efforts and revenues may be negatively affected.
- If we expand in foreign markets, we will be affected by new business risks that may adversely impact our financial condition or results of operations.
- Risks Related to Government Regulation and Other Legal Compliance Matters
- We are subject to extensive regulation by the FDA and other federal and state regulators which could restrict the sales and marketing of Quell and DPNCheck, as well as other products for which we may seek FDA clearance or approval and could cause us to incur significant costs.
- If we or our manufacturers fail to comply with the FDA’s quality system regulation, the manufacturing and distribution of our products could be interrupted, and our product sales and operating results could suffer.
- We are subject to Federal Trade Commission regulatory oversight. Exercise of this regulatory oversight could lead to an outcome which would constrain our marketing of Quell, cause us to incur significant costs and penalties, and adversely affect our financial results.
- Our products may be subject to recalls, even after receiving FDA clearance or approval, which would harm our reputation, business and financial results.
- We are subject to federal and state laws prohibiting “kickbacks” and false or fraudulent claims, which, if violated, could subject us to substantial penalties. Additionally, any challenge to or investigation into our practices under these laws could cause adverse publicity and be costly to respond to, and thus could harm our business.
- If we are found to have violated laws protecting the confidentiality of patient health information, we could be subject to civil or criminal penalties, which could increase our liabilities, damage our reputation and harm our business.
- The use of our products could result in product liability claims that could be expensive, damage our reputation and harm our business.
- Our products are complex in design, and defects may not be discovered prior to shipment to customers, which could result in warranty obligations or product liability or other claims, reducing our revenues and increasing our costs and liabilities.
- Risks Related to Our Intellectual Property
- The patent rights we rely upon to protect the intellectual property underlying our products may not be adequate, which could enable third parties to use our technology and would harm our ability to compete in the market.
- Other rights and measures we have taken to protect our intellectual property may not be adequate, which would harm our ability to compete in the market.
- We may need to initiate lawsuits to protect or enforce our patents and other intellectual property rights, which could be expensive and, if we lose, could cause us to lose some of our intellectual property rights, which would harm our ability to compete in the market.
- Claims that our products infringe on the proprietary rights of others could adversely affect our ability to sell our products and increase our costs.
- Risks Related to Our Common Stock
- Future sales of securities may cause our stock price to decline as a result of the dilution which will occur to existing stockholders.
- The trading price of our common stock has been volatile and is likely to be volatile in the future.
- We have, in the past, failed to satisfy certain continued listing requirements on Nasdaq and could fail to satisfy those requirements again in the future which could affect the market price of our common stock and liquidity and reduce our ability to raise capital.
- Anti-takeover provisions in our organizational documents and Delaware law, and the shareholder rights plan that we adopted in 2007 and updated in 2021, may discourage or prevent a change of control, even if an acquisition would be beneficial to our stockholders, which could affect our stock price adversely and prevent attempts by our stockholders to replace or remove our current management.
- We do not intend to pay cash dividends.
Legal proceedings
The Company is not party to or aware of any legal proceedings.
The opening of Item 3, Legal Proceedings.3
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12SEC EDGARShai Gozani, Chief executive officer
- 13
- 14
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22SEC EDGARThomas T. Higgins, Board member
- 23SEC EDGARJoshua Horowitz, Board member
- 24SEC EDGARFluegel M. Bradley, Board member
- 25SEC EDGARAvermaete David Van, Board member
- 26SEC EDGARNancy E. Katz, Board member
- 27SEC EDGARW. Mark Lortz, Board member
- 28SEC EDGARTimothy R. Surgenor, Board member
- 29SEC EDGARJonathan T. Lord Md., Board member
- 30SEC EDGARAllen J. Hinkle, Board member
- 31SEC EDGARCharles R. Lamantia, Board member
- 32SEC EDGARDavid Goodman, Board member
- 33
- 34SEC EDGARShareholder vote
- 35SEC EDGAREntered a material agreement
- 36SEC EDGARExecutive or director change
- 37
- 38SEC EDGARResults of operations
- 39SEC EDGARResults of operations
- 40SEC EDGARShareholder vote
- 41
- 42SEC EDGARExecutive or director change
- 43
- 44SEC EDGAREntered a material agreement
- 45
- 46
- 47
- 48
- 49
- 50
- 51
- 52
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- 54