Detailed financial statements for NeuroOne Medical Technologies Corporation (NMTC): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
NeuroOne Medical Technologies Corporation functions as a specialized medical technology enterprise. Its core mission involves the invention and market deployment of sophisticated thin-film electrode systems.
Analysis Summary
NeuroOne Medical Technologies Corporation reported revenue of $12.1M in the most recent fiscal year, growing at a 5-year CAGR of 44.4%.
Trailing-twelve-month margins: gross margin 55.7%, operating margin -76.1%, net margin -71.5%.
At the current price of $1.41, NMTC has negative trailing earnings (P/E not meaningful) and an ROE of -126.45%. Market capitalisation stands at $12M.
Balance sheet quality for NMTC: current ratio of 4.4, net cash position of $6.3M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | $1.9M | $178146 | $171169 | $2.0M | $3.5M | $12.1M |
| Cost of Revenue | $7740 | $17633 | $21667 | $27569 | $70552 | $275895 | $241963 | $1.5M | $2.4M | $4.0M |
| Gross Profit | -$7740 | -$17633 | -$21667 | -$27569 | $1.9M | -$97749 | -$70794 | $456517 | $1.1M | $8.1M |
| Research & Development | 0 | $735333 | $951064 | $1.5M | $2.1M | $3.9M | $4.9M | $6.9M | $5.1M | $5.0M |
| Selling, General & Admin | $32611 | $2.3M | $3.5M | $4.3M | $4.8M | $6.3M | $7.0M | $6.9M | $7.9M | $7.4M |
| Operating Expenses | $32611 | $3.1M | $3.2M | $5.8M | $6.8M | $10.1M | $10.0M | $12.4M | $13.0M | $12.4M |
| Operating Income | -$32611 | -$3.1M | -$3.2M | -$5.8M | -$4.9M | -$10.2M | -$10.0M | -$12.0M | -$11.9M | -$4.2M |
| EBITDA | -$32611 | -$3.1M | -$4.1M | -$5.8M | -$4.9M | -$9.8M | -$9.9M | -$11.7M | -$11.8M | -$3.0M |
| Interest Expense | 0 | $1.4M | 0 | $284557 | $7.5M | $3053 | 0 | 0 | $228988 | $334063 |
| Pre-tax Income | -$32611 | -$5.1M | -$6.8M | -$6.8M | -$13.6M | -$9.9M | -$10.0M | -$11.9M | -$12.3M | -$3.6M |
| Income Tax | $15164 | 0 | $3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | -$47775 | -$5.1M | -$6.8M | -$6.8M | -$13.6M | -$9.9M | -$10.0M | -$11.9M | -$12.3M | -$3.6M |
| EPS | $-0.17 | $-13.80 | $-14.58 | $-10.32 | $-15.12 | $-5.58 | $-3.78 | $-3.90 | $-2.76 | $-0.54 |
| EPS (Diluted) | $-0.17 | $-13.80 | $-14.58 | $-10.32 | $-15.12 | $-5.58 | $-3.78 | $-3.90 | $-2.76 | $-0.54 |
| Shares Outstanding (Diluted) | $281833 | $367226 | $467807 | $658754 | $902563 | $1.8M | $2.7M | $3.0M | $4.5M | $6.7M |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $522217 | $26467 | $13260 | $260749 | $4.0M | $6.9M | $8.2M | $5.3M | $1.5M | $6.6M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | $3.0M | 0 | 0 | 0 |
| Receivables | 0 | 0 | 0 | 0 | 0 | $48336 | $33237 | 0 | $176636 | $1.3M |
| Inventory | 0 | 0 | 0 | 0 | 0 | $98287 | $704538 | $1.7M | $2.6M | $2.2M |
| Total Current Assets | $576040 | $33613 | $18638 | $301751 | $4.2M | $7.3M | $12.2M | $7.3M | $4.6M | $10.2M |
| Property, Plant & Equipment | 0 | 0 | 0 | $52026 | $448242 | $512277 | $534954 | $694812 | $671753 | $514417 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | $180890 | $216372 | $200081 | $178838 | $156523 | $134207 | $111892 | $89577 | $67262 | $44946 |
| Total Assets | $756930 | $249985 | $218719 | $532615 | $4.8M | $7.9M | $12.8M | $8.1M | $5.4M | $10.8M |
| Accounts Payable | $22362 | 0 | $221235 | $1.2M | $762538 | $528829 | $927662 | $685104 | $1.0M | $1.0M |
| Short-term Debt | $275197 | $2.4M | $1.7M | 0 | $1.0M | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | $677190 | $3.9M | $3.8M | $1.8M | $2.4M | $1.2M | $3.1M | $1.8M | $2.2M | $2.3M |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $1.0M | $5.3M | $4.6M | $1.8M | $2.7M | $1.4M | $3.2M | $1.8M | $4.5M | $3.7M |
| Retained Earnings | -$266370 | -$5.3M | -$10.5M | -$17.2M | -$30.9M | -$40.8M | -$50.8M | -$62.7M | -$75.0M | -$78.6M |
| Total Equity | -$266220 | -$5.0M | -$4.4M | -$1.2M | $2.1M | $6.6M | $9.6M | $6.2M | $822013 | $7.1M |
| Total Debt | $275197 | $2.4M | $1.7M | 0 | $1.3M | $315673 | $202895 | $184400 | $260160 | $266806 |
| Net Debt | -$247020 | $2.4M | $1.7M | -$260749 | -$2.7M | -$6.6M | -$10.9M | -$5.1M | -$1.2M | -$6.3M |
| Working Capital | -$101150 | -$3.9M | -$3.8M | -$1.5M | $1.8M | $6.1M | $9.1M | $5.5M | $2.4M | $7.9M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | -$47775 | -$5.1M | -$6.8M | -$6.8M | -$13.6M | -$9.9M | -$10.0M | -$11.9M | -$12.3M | -$3.6M |
| Depreciation & Amortization | $7740 | $17633 | $20556 | $27569 | $47609 | $80748 | $118620 | $199266 | $246791 | $261679 |
| Stock-based Compensation | 0 | $76794 | $486120 | $491749 | $1.8M | $1.8M | $947212 | $1.1M | $1.3M | $1.3M |
| Change in Working Capital | $11052 | $859892 | $1768 | -$101881 | -$429563 | -$512733 | $1.2M | -$2.4M | -$954611 | -$429191 |
| Operating Cash Flow | -$21106 | -$2.1M | -$2.8M | -$5.4M | -$3.4M | -$8.6M | -$7.5M | -$12.9M | -$11.0M | -$2.8M |
| Capital Expenditure | 0 | -$91709 | 0 | -$123352 | -$122427 | -$67079 | -$275226 | -$384117 | -$120197 | -$81742 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | $3.0M | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$119419 | -$81403 | -$124617 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$21106 | -$2.2M | -$2.8M | -$5.5M | -$3.5M | -$8.7M | -$7.8M | -$13.3M | -$11.1M | -$2.9M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | -90.8% | -3.9% | +1040.7% | +76.9% | +250.4% | |||||
| Net Income Growth (YoY) | -10488.0% | -35.0% | +0.7% | -101.1% | +27.1% | -0.5% | -18.6% | -3.9% | +70.7% | |
| EPS Growth (YoY) | -8027.2% | -5.7% | +29.2% | -46.5% | +63.1% | +32.3% | -3.2% | +29.2% | +80.4% | |
| Shares Change (YoY) | +30.3% | +27.4% | +40.8% | +37.0% | +97.5% | +49.6% | +13.3% | +47.7% | +50.0% | |
| FCF Growth (YoY) | -10322.5% | -28.5% | -95.2% | +35.7% | -144.4% | +10.1% | -70.3% | +16.1% | +73.8% | |
| Gross Margin | 96.3% | -54.9% | -41.4% | 23.4% | 31.3% | 67.3% | ||||
| Operating Margin | -254.5% | -5735.9% | -5860.2% | -612.3% | -344.3% | -34.9% | ||||
| EBITDA Margin | -252.0% | -5500.0% | -5772.7% | -597.2% | -343.0% | -24.9% | ||||
| Net Margin | -708.0% | -5584.3% | -5842.0% | -607.4% | -356.7% | -29.8% | ||||
| FCF Margin | -184.1% | -4866.7% | -4553.8% | -679.7% | -322.4% | -24.1% | ||||
| Effective Tax Rate | -46.5% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $-0.07 | $-5.99 | $-6.04 | $-8.38 | $-3.93 | $-4.86 | $-2.92 | $-4.39 | $-2.50 | $-0.44 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $281833 | $367226 | $467807 | $658754 | $902563 | $1.8M | $2.7M | $3.0M | $4.5M | $6.7M |
What to look at in Healthcare / Pharma
The R&D pipeline is the invisible asset. Patents expiring = revenues evaporating. Look at innovation and cash flow.
- R&D / Revenue — Shows investment in future pipeline. Serious pharma reinvests 15-20%
- 5y EPS growth — After patent expirations, are they still growing?
- Gross margin — Branded pharma >70%. Generics much lower — defines the business type
- FCF / Net Income — Earnings quality — big pharma should convert >90%
- ROIC — Capital reinvested efficiently — key in pharma due to long R&D cycles
- Net debt / EBITDA — Pharma acquisitions pile up debt — watch the post-M&A picture
- P/E vs own 10y history — The best comparison is with its own history, not with peers
Profitability
| Return on Equity | -126.45% |
| Return on Invested Capital | -183.45% |
| Return on Assets | -115.57% |
| Gross Margin | 55.67% |
| Operating Margin | -76.05% |
| Net Margin | -71.51% |
Financial Health
| Debt / Equity | 0.02 |
| Current Ratio | 2.84 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -426.15 | -5.24 | -6.79 | -3.26 | -1.53 | -4.25 | -2.68 | -1.37 | -2.15 | -9.87 |
| P/B | -76.60 | -5.28 | -10.54 | -17.92 | 10.12 | 6.45 | 2.82 | 2.58 | 32.23 | 5.04 |
| P/S | 0.00 | 0.00 | 0.00 | 0.00 | 10.85 | 237.18 | 157.96 | 8.26 | 7.67 | 2.95 |
| Gross Margin | 0.0% | 0.0% | 0.0% | 0.0% | 96.3% | -54.9% | -41.4% | 23.4% | 31.3% | 67.3% |
| Operating Margin | 0.0% | 0.0% | 0.0% | 0.0% | -254.5% | -5735.9% | -5860.2% | -612.3% | -344.3% | -34.9% |
| Net Margin | 0.0% | 0.0% | 0.0% | 0.0% | -708.0% | -5584.3% | -5842.0% | -607.4% | -356.7% | -29.8% |
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