Nexalin Technology, Inc.
1.5500+0.07 (+4.73%)
Oct 29, 4:00:01 PM EDT · NasdaqCM · NXL · USD
Key Stats
Market Cap
28.19MP/E (TTM)
-Basic EPS (TTM)
-0.77Dividend Yield
0%Recent Filings
8-K
Nexalin boosts ATM offering to $10M
Nexalin Technology expanded its at-the-market offering program on October 15, 2025, boosting the maximum sales value from $3.1 million to $10 million through an amendment with Maxim Group LLC. This ups the available shares for issuance to about $4.3 million as of the date. The move enhances funding flexibility amid ongoing operations. Yet risks linger in market volatility.
10-Q
Q2 FY2025 results
Nexalin Technology posted Q2 revenue of $70.6K, up 163% y/y from $26.8K but down q/q from $41K (derived), fueled by equipment sales to China while U.S. licensing dipped. Gross margin slipped to 68% from 73% y/y due to lower-margin equipment mix. Operating loss widened 25% y/y to $1.6M, driven by higher R&D on clinical trials and app development, plus elevated stock-based compensation in SG&A. Diluted EPS of -$0.10 improved from -$0.17 y/y, aligning with 15.7M weighted shares. Cash and equivalents stood at $431K with $5.4M in short-term investments post a $4.6M stock offering; operating cash burn hit $2.3M YTD, yielding negative FCF (not disclosed in the 10-Q). No debt burdens the balance sheet. Ongoing FDA talks for Gen-2/3 devices carry regulatory risk.
8-K
CFO Appointment Announced
Nexalin Technology appointed Justin Van Fleet as CFO on August 1, 2025, to steer financial strategy amid scaling operations and advancing neurostimulation devices through FDA review. With over 20 years in public accounting at Marcum LLP, Van Fleet brings expertise in compliance and complex transactions across tech and life sciences. This hire bolsters Nexalin's push toward commercial readiness for its non-invasive mental health treatments. Forward-looking plans hinge on regulatory approvals.
8-K
Nexalin names new CFO
Nexalin Technology appointed Justin Van Fleet, a certified public accountant and former partner at Marcum LLP, as Chief Financial Officer effective August 1, 2025, under a one-year employment agreement signed July 17. He receives a $250,000 base salary, 25,000 unregistered common shares, options for shares valued at $150,000 vesting over one year, and up to $40,000 in discretionary retention bonuses. This hire bolsters financial oversight amid growth, yet ties rewards to tenure through 2026.
8-K
Shareholders approve board, plan
Nexalin Technology's shareholders convened their annual meeting on July 16, 2025, electing Leslie Bernhard, Mark White, David Owens M.D., Alan Kazden, and Ben V. Hu M.D. as directors with strong support, though each saw notable abstentions. They approved amending the 2023 Equity Incentive Plan to expand share reserves, signaling confidence in growth incentives. Auditors CBIZ CPAs P.C. were ratified for 2025. All directors won decisively.
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