Company Analysis

electroCore, Inc. (ECOR)

Nasdaq: ECOR · Electromedical & Electrotherapeutic Apparatus · Rockaway, NJ · filing with the SEC since 2012
Grade5.2
◀ Past 5.6● Present 5.1▶ Future 4.8
1 est.

The grade of electroCore, Inc.

Nine metrics read from its own filings, by tense
Headline grade
5.2/10
◀ Past5.630% of the headline
● Present5.140% of the headline
▶ Future4.830% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.6/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
4.6/10

Has it survived what it has been through?

6 warning events since 2017; the latest 2025-04-03.

weight 33% of this tense · 46th percentile among 27 sector filers · read for itself

From the record

electroCore, Inc.'s filings since 2017 show 6 warning events of 2 kinds: a notice about its exchange listing (8-K item 3.01, 4 times, the latest 2023-02-23); an auditor change (8-K item 4.01, 2 times, the latest 2025-04-03) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
7.0/10

What has it actually done, year after year?

+58.3% a year over 9 filed years; profitable in 0 of 9.

weight 45% of this tense · 70th percentile among 25 sector filers · read for its customers

From the record

electroCore, Inc.'s 9 filed years say what it did: revenue went from $811 thousand in fiscal 2017 to $32 million in fiscal 2025, up 58.3% a year; it rose in 8 of 8 years; it never fell from a peak; net income was positive in 0 of 9 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span58.3%top 20% of its family
  • the share of years revenue rosetop 14% of its family
  • the share of filed years with a profitbottom 29% of its family
  • the deepest fall from a revenue peak0.0%top 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
3.9/10

How has it treated the people who own it?

SI estimate 3.9/10, confidence 35 of 100 (one part).

weight 22% of this tense · 39th percentile among 27 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 39% of 27 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 27 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: electroCore, Inc.'s shareholder treatment is put at 3.9 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 39% of 27 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

5.1/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
5.1/10

Is it financially healthy right now?

Leverage 109%: owes 109¢ per asset dollar.

weight 45% of this tense · 51st percentile among 27 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, electroCore, Inc.'s shareholders' equity was below zero, so the profit on it is not read, and gross profitability: its products earned about 149 cents per dollar of everything the company owns. Leverage: it owed about 109 cents per dollar of assets, and net share issuance: its share count grew 13.4% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 2% of its family
  • gross profit against assetstop 2% of its family
  • the share count against the year beforetop 46% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
6.1/10

How strong is its position in its industry?

top 39% of 24 in its family; net margin -43.6%.

weight 33% of this tense · 61st percentile among 24 sector filers · read for its customers

From the record

electroCore, Inc.'s standing among 24 graded names in its industry family: revenue of $32 million in fiscal 2025 ranks in the bottom 44% by size; a net margin of -43.6% ranks in the top 48%; revenue growth of 55% a year over the last 3 filed years ranks in the top 14% (its annual reports).

What it rests on

  • revenue against the family$32.0Mbottom 44% of its family
  • net margin-43.6%top 48% of its family
  • three-year revenue growth55.0%top 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
3.7/10

What are the people in charge doing?

bottom 37% of 19 in its family for leadership; chief executive since 2026.

weight 22% of this tense · 37th percentile among 19 sector filers · read for its shareholders

From the record

electroCore, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Fox, Michael (Co-Chief Executive Officer, President and Chief Operating Officer, as filed), filing under that title since 2026-09-10, 2 months (bottom 8% of its family); the 10 officers and directors filing in the last fifteen months have been on the record a median of 4.7 years (top 44%); 6 officer or director changes were reported on Form 8-K since 2023-11-13, against the 10 people in charge now (bottom 46%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge6 in three years among 10 peoplebottom 46% of its family
  • the median years the people in charge have filed4.7 yearstop 44% of its family
  • the chief executive's years on the record2 monthsbottom 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

4.8/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
5.3/10

How much room does it have to grow?

top 47% of 23 in its family for room to expand.

weight 45% of this tense · 53rd percentile among 23 sector filers · read for itself

From the record

electroCore, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $7 million against debt of $8 million leaves -3.9% of its assets as net cash, bottom 21% of its family; cash from operations less capital spending is -25.8% of revenue (bottom 46%); a gross margin of 86.8% (top 7%) (its annual report).

What it rests on

  • cash less debt against assets-3.9%bottom 21% of its family
  • cash from operations less capital spending against revenue-25.8%bottom 46% of its family
  • gross margin86.8%top 7% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
4.0/10

What could actually drive growth from here?

bottom 40% of 25 in its family for growth drivers.

weight 33% of this tense · 40th percentile among 25 sector filers · read for its customers

From the record

electroCore, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 55% a year over the last three filed years against 58.3% over all 9, slowing (bottom 37% of its family); the newest year grew 27.2% (top 33%); research spending grew -2.4% a year (bottom 34%); capital spending grew -18.6% a year (bottom 23%) (its annual reports). electroCore, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span-3.3 points a yearbottom 37% of its family
  • the newest year's revenue growth27.2%top 33% of its family
  • three-year growth of research spending-2.4%bottom 34% of its family
  • three-year growth of capital spending-18.6%bottom 23% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.0/10

Did its newest year beat what its own record pointed to?

top 50% of 20 in its family for expectations against reality.

weight 22% of this tense · 50th percentile among 20 sector filers · read for its shareholders

From the record

electroCore, Inc.'s newest year against its own record: revenue of $32 million in fiscal 2025 came in 25.7% below the $43 million its prior three years' pace pointed to (bottom 12% of its family); net income of $14 million against a prior three-year average of $18 million (top 39%); a net margin of -43.6% against losses larger than its revenue before (top 22%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-25.7%bottom 12% of its family
  • net income against the prior three years' average+21%top 39% of its family
  • net margin against its prior average+97.3 pointstop 22% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton ECOR · research, not advice