CBLL — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-11-03

• Interest and other income (expense), net decreased $2.0 million, or 168% for the three months ended September 30, 2026, compared to the same period for fiscal year 2025. The decrease in interest and other income, net was primarily due to a $1.5 million loss on debt extinguishment and lower balances …

• Net operating assets increased due to increases in accounts receivable and inventory due to higher inventory purchases in the nine months ended September 30, 2025. Net operating liabilities increased primarily due to timing of payments.

• Net cash used in investing activities during the nine months ended September 30, 2025 was $144.2 million, and consisted of purchases of marketable securities and equipment and recorders provided to customers.

• Net cash provided by financing activities during the nine months ended September 30, 2026, consisted of proceeds from the exercise of options and purchase of shares in accordance with our ESPP and proceeds from the MidCap Revolving Facility, offset by payments made for the debt extinguishment, payme…

• Net cash provided by financing activities during the nine months ended September 30, 2025, consisted of proceeds from the exercise of options, offset by debt issuance costs.

Text removed vs the prior filing · source: 10-Q · 2026-08-10

• Interest and other income, net decreased $0.6 million, or 46% for the three months ended June 30, 2026, compared to the same period for fiscal year 2025. The decrease in interest income was primarily due to lower balances of cash equivalents and marketable securities, compared to the same period of …

• Net cash provided by investing activities during the six months ended June 30, 2026 was $21.8 million, and consisted of maturities of marketable securities, offset by purchases of marketable securities, equipment, and recorders provided to customers.

• Net cash provided by financing activities during the six months ended June 30, 2026, consisted of proceeds from the exercise of options and purchase of shares in accordance with our ESPP.

• Net cash provided in financing activities during the six months ended June 30, 2025, consisted of proceeds from the exercise of options, and offset by debt issuance costs.

• In April 2025, the U.S. government announced new tariffs on goods imported into the U.S. from dozens of countries, including China and the European Union member states. In response, governments have threatened or imposed reciprocal tariffs or taken other measures, and the United States is in the pro…

Text added vs the prior filing · source: 10-Q · 2026-11-03

• result in decreased sales of our products. A number of other factors, including the impacts of economic conditions and regulatory changes on hospital budgets and spending patterns, could potentially negatively affect new customer acquisitions and demand for our products.

• The U.S. government has implemented or proposed changes to international trade policy through the renegotiation or potential termination of existing trade agreements and the imposition of tariffs on a wide range of products from China, Vietnam, countries in Europe, the Middle East, and Africa, and o…

• Our expansion into new indications and application areas subjects us to additional clinical, regulatory, commercial, and reimbursement risks, and we may not realize the anticipated benefits of these efforts.

• We are expanding our product portfolio beyond seizure detection. In December 2025, the FDA granted 510(k) clearance for our Delirium Monitor System, and in 2026 we received additional 510(k) clearances for neurology-focused algorithms, EEG analysis tools, and a next-generation hardware platform. In …

• Delirium screening and monitoring with EEG is a new application for many hospitals, and hospitals and clinicians may not adopt or continue to use the Delirium Monitor System or our other new offerings at the levels we expect. These offerings may require additional training, workflow changes, or inte…

Text removed vs the prior filing · source: 10-Q · 2026-08-10

• We spend significant amounts on marketing and brand-building initiatives to increase market awareness of the Ceribell System, reinforce the importance of prompt diagnosis of non-convulsive status epilepticus, and highlight the limitations of conventional EEG systems. We believe these programs are es…

• may be inaccurate. Any negative publicity, whether real or perceived, disseminated by word-of-mouth, the general media, electronic or social networking platforms, competitor materials, or other methods, could harm our reputation and brand and could severely diminish consumer confidence in our produc…

• Adapting our manufacturing and production capacities to evolving patterns of demand is expensive, time-consuming, and subject to significant uncertainties. We may not be able to adequately predict emerging customer trends and may be unable to adjust our production and inventory levels in a timely ma…

• We market the Ceribell System directly to potential customers in the United States, where we face the risk of significant changes in the demand for our products, including demand for our disposable Wearables based on usage rates. If demand decreases, we will need to implement capacity and cost reduc…

• In addition, we may experience challenges managing the inventory of components of the Ceribell System, which can lead to excess inventory. Inventory levels in excess of customer demand may result in inventory write-downs or write-offs, which could impact our gross margins. Reserves and write-downs f…

Text added vs the prior filing · source: 10-Q · 2026-11-03

• President, Chief Executive Officer, Director, and Co-Founder

Text removed vs the prior filing · source: 10-Q · 2026-08-10

• On August 5, 2026, the Company entered into a Credit, Security and Guaranty Agreement (the “Credit Agreement”) by and among the Company, as borrower, MidCap Funding IV Trust, as agent, MidCap Financial Trust, as term loan servicer, and the lenders from time to time party thereto. The Credit Agreemen…

• At closing, the Company borrowed $20.0 million under the revolving facility and has no balance drawn under the term loan. The proceeds of borrowings under the Credit Agreement were used to repay in full the Company's outstanding obligations under the VLSA described in Note 9. Future borrowings will …

• The foregoing description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement, a copy of which is filed as Exhibit 10.1 to this Quarterly Report on Form 10-Q and is incorporated herein by reference.

• The information contained in this Item 5 is intended to satisfy the Company’s reporting obligations under Item 1.01 (Entry into a Material Definitive Agreement) and Item 2.03 (Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant) of Form 8…