NeuroOne Medical Technologies Corporation (Nasdaq: NMTC), a medical technology company specializing in surgical diagnosis and treatment of neurological disorders, announced its fiscal third quarter 2026 financial results on August 13, 2026. The company reported product revenue of $2.0 million for the quarter ended June 30, 2026, a 16% increase from $1.7 million in the same period last year. Product gross profit rose 29% to $1.2 million, driving gross margins to a record 59.9%, up from 53.9% in the prior-year quarter.
New product orders during the quarter totaled $2.7 million, representing a 43% year-over-year increase and outpacing recognized revenue. As of June 30, 2026, the company had a backlog of $1.7 million. For fiscal year 2026, NeuroOne has received product orders totaling $11.2 million, with recognized revenue expected to range between $9.2 million and $10.5 million, depending on manufacturing and shipment timing. The company is working closely with manufacturing partners to maximize shipments through the end of the fiscal year.
“This quarter marked another period of revenue growth compared to 2025, with product revenue increasing 16% year-over-year to $2.0 million,” said Dave Rosa, CEO of NeuroOne. “Importantly, this growth is improving margins – product gross margins reached a record 59.9%, driven by a 29% increase in product gross profit to $1.2 million compared to the prior year period. Even more encouraging is that new product orders of $2.7 million during the quarter meaningfully outpaced revenue recognized during the quarter, growing our backlog to $1.7 million.”
Operationally, NeuroOne received ISO 13485:2016 certification in August 2026, ahead of schedule, enabling the company to commercialize its products internationally. This certification is a major milestone that signals adherence to an internationally recognized quality management system and provides near-term commercial opportunities to grow product revenues in global markets.
In a significant development for its drug delivery platform, NeuroOne expects its StereoCED™ platform to be available for animal research and FDA IDE approved studies by the end of fiscal year 2026. The company released a white paper titled “StereoCED™ - A Scalable Platform for CNS Drug Delivery,” highlighting its potential to reduce procedure time and address key barriers to scalable commercial delivery of brain therapeutics. This comes as the first potential blockbuster intraparenchymal brain-delivered therapy could receive FDA approval as early as 2027.
NeuroOne also expanded its drug delivery collaborations. A study with Mayo Clinic, funded by CURE Childhood Cancer, will evaluate a novel treatment for pediatric diffuse midline glioma (DMG), an aggressive childhood brain cancer, using the StereoCED™ platform. Another collaboration with the University of Minnesota will test next-generation epilepsy therapies delivered locally into specific brain regions, aiming to improve efficacy and reduce systemic toxicity.
The Journal of Neurosurgery published an article by Mayo Clinic in Jacksonville, Florida, evaluating the use of NeuroOne’s OneRF® Brain Ablation System in patients with implanted neuromodulation devices. The study concluded that these procedures may be performed without interfering with existing hardware and provided meaningful seizure reduction, expanding the pool of treatable patients.
Financially, NeuroOne reported a net loss of $2.0 million, or $0.23 per basic share, for the quarter, compared to a net loss of $1.5 million, or $0.19 per basic share, in the prior-year quarter. Cash and cash equivalents totaled $2.0 million as of June 30, 2026, down from $6.6 million at September 30, 2025. The company raised $0.4 million through its at-the-market offering during the quarter and an additional $1.0 million subsequent to quarter-end. Working capital stood at $3.7 million, with no debt outstanding.
NeuroOne was added to the Russell Microcap Index in June 2026. The company is also in advanced discussions with a potential strategic partner for its basivertebral nerve ablation system to treat lower back pain.
“Looking at the rest of the fiscal year, there's a lot to be excited about: the launch of our StereoCED™ drug delivery platform for investigational and animal studies, continued growth of the OneRF® Brain Ablation System, onboarding independent distributor reps for the OneRF® Trigeminal Nerve Ablation System, selecting a partner for our basivertebral nerve ablation access tools, and planning for international expansion,” added Rosa. “In total, we continue to make meaningful progress with our technology platform across all verticals while adding to the patient success stories for those who are treated with our technology. This is our driving motivation.”
