---
title: "EBR Systems 2025 10-K: $1.62M revenue, $(0.12) EPS"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/279677215.md"
description: "EBR Systems reported $1.617 million in revenue for 2025, following FDA PMA approval and U.S. commercialization, resulting in a net loss of $48.758 million or $(0.12) per share. The revenue came from initial commercial implants and early international battery sales. The loss was attributed to high R&D and SG&A expenses during scale-up. The company trained 33 physicians and signed 21 purchase agreements to support adoption, focusing on U.S. high-volume hospitals for commercial expansion."
datetime: "2026-03-18T21:35:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/279677215.md)
  - [en](https://longbridge.com/en/news/279677215.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/279677215.md)
generator: "portal-rs"
---

# EBR Systems 2025 10-K: $1.62M revenue, $(0.12) EPS

EBR Systems reported $1.617 million in revenue for 2025 following FDA PMA and the start of U.S. commercialization, producing a net loss of $48.758 million or $(0.12) per share as the company continues to invest heavily in R&D and commercial expansion. Revenue reflects initial commercial implants and early international battery sales, while the loss was driven by operating expenses including R&D and SG&A during scale-up. Gross profit was $0.490 million, with margins affected by inventory accounting and manufacturing scale-up.

**Financial Highlights**

-   **Revenue:** $1.617 million (recognized from U.S. commercial sales after FDA approval in April 2025)
-   **Gross Profit:** $0.490 million (gross margin 30.3%; would be -26.8% excluding previously expensed clinical inventory)
-   **Operating Income (Loss from operations):** $(46.087) million, driven by R&D and SG&A expenses
-   **Net Income (Net loss):** $(48.758) million, a loss increase of $7.959 million (19.5%) versus prior year
-   **Net Income Per Share:** $(0.12) basic and diluted; weighted-average shares 417.327 million

**Business Highlights**

-   **FDA approval & commercial launch:** Received U.S. FDA PMA in April 2025 and began U.S. commercialization in Q2 2025, enabling commercial implants.
-   **Initial commercial activity:** Generated revenue from 33 implants across 11 U.S. hospitals and initial international battery sales.
-   **Clinical and training momentum:** Trained 33 physicians and signed 21 purchase agreements with target lower motor region (LMR) sites to support adoption.
-   **Manufacturing and inventory:** Capitalized inventory and scaled manufacturing efforts to improve product availability, a shift that pressures near-term margins but supports commercialization.
-   **Commercial expansion focus:** Prioritizing U.S. high-volume hospitals first, with selective international market expansion contingent on regulatory and reimbursement review.

Original SEC Filing: EBR Systems, Inc. \[ EBRCZ \] - 10-K - Mar. 18, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**