Neuropace Inc (NASDAQ: NPCE) is a medical device company that develops and commercializes the RNS System, a closed-loop neurostimulation device implanted in the skull to detect and respond to abnormal brain activity in patients with drug-resistant epilepsy. Revenue comes primarily from transactional sales of the RNS System hardware, including the neurostimulator, brain leads, and associated external components such as the Patient Remote Monitor and Physician Tablet, to hospitals and epilepsy centers in the United States. The company also distributes DIXI Medical products, which factor into cost of goods sold. Nearly all revenue is generated in the United States, with limited sales in Canada on a case-by-case approval basis and in Israel where regulatory approval has been obtained. As of December 31, 2025, Neuropace held 98 issued U.S. patents covering the RNS System, detection and stimulation methods, AI and machine learning techniques, and related hardware components. Joel Becker serves as President and Chief Executive Officer, and Patrick F. Williams serves as Chief Financial Officer, both as of the filing date of March 3, 2026.

Revenue model

Transactional sales of the implantable RNS System and related hardware components to hospitals and epilepsy centers, with additional revenue from distribution of DIXI Medical products. The company also provides data monitoring and analysis services under a collaboration agreement with Rapport Therapeutics, extending through the first half of 2028.

Products and services

RNS System: a closed-loop implantable neurostimulator that detects abnormal intracranial EEG activity and delivers responsive electrical stimulation. Components include the implanted neurostimulator, brain leads, lead connector, neurostimulator tray, Patient Remote Monitor (handheld wand plus tablet or laptop), Physician Tablet for clinician programming, and the Patient Data Management System (PDMS), a secure online database for storing and reviewing iEEG data. The company also distributes DIXI Medical products and is developing AI-enabled software tools using its iEEG database.

Customers and end markets

Clinicians, epilepsy centers, and hospitals treating adult patients with drug-resistant focal epilepsy. The company targets both existing accounts and new centers through clinician training, education, medical conference presentations, and direct-to-patient marketing. Rapport Therapeutics is a collaboration partner purchasing data monitoring and analysis services.

Value-chain role

Vertically integrated medical device manufacturer: designs, manufactures, and commercializes the RNS System, manages its own quality assurance and manufacturing operations, and operates the PDMS cloud database for ongoing patient data management. Relies on third-party suppliers for materials, components, and subassemblies.

Geographic exposure

Nearly all revenue from the United States. Limited sales in Canada under a case-by-case special approval program for adult patients with drug-resistant focal epilepsy. Sales in Israel where regulatory approval has been obtained. (Per 10-K filed 2026-03-03.)

Source: SEC 10-K, filed 2026-03-03

Industry: Surgical & Medical Instruments & Apparatus Peers: Abbott Laboratories DarioHealth Corp Pulse Biosciences Inc Electromed Inc Fonar Corp LENSAR Inc Neuronetics Inc PAVmed Inc