2023-04-17 12:15:49 ET
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electroCore ( NASDAQ: ECOR ) expects its first quarter 2023 revenue of about $2.8 million, a growth of ~46% from last year, the bioelectronic medicine and wellness company said on Monday.
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The Seeking Alpha consensus estimate for Q1 2023 revenue is $2.98 million.
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electroCore estimates generating $1.8 million revenue from its government channel, ~$581,000 from its U.S. commercial channels, and about $406,000 from overseas in Q1.
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The company reaffirmed its revenue forecast of $14.0-$15.0 million for the year ending December 31, 2023. The consensus estimate is $14.38 million.
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ECOR said it believes its legacy headache channels will grow by >50% to at least $12.0 million for 2023 and revenue from new products in the Truvaga and TAC-STIM brands could be more than $2.0 million.
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Shares +8.1% at 6.82.
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electroCore stock surges 8% after providing Q1 revenue guidance