Neuropace, Inc. · NASDAQ:NPCE
Neuropace — Q2 2026 Earnings Presentation
31 slides from Neuropace's earnings presentation, Aug 11, 2026
Slide 1: Investor Presentation
Investor Presentation August 2026 1
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,
Slide 3: NeuroPace Mission
NEUROPACE MISSION Transform the lives of people suffering from epilepsy by reducing or eliminating the occurrence of debilitating seizures. 3
Slide 4: Management Team
Management Team Joel Becker Patrick Williams Martha Morrell, MD Chris Reese Chief Executive Officer Chief Financial Officer Chief Medical Officer SVP, Sales Previous Experience 4
Slide 5: NeuroPace Investment Highlights
NeuroPace Investment Highlights Strong Fundamentals and Positioned for Growth First closed loop, brain- • Best-in-class, differentiated outcomes that continue to improve over time responsive neuromodulation • Exclusive iEEG dataset enables AI and therapy personalization system • Large, underpenetrat
Slide 6: Q2 2026 in Review
Q2 2026 in Review RNS Revenue Adjusted¹ Gross Adjusted¹ Margin Operating Expenses $22.5M 83.4% $21.9M +21% YoY growth (65) bps YoY +3% growth YoY2 RNS active prescribers increased to new record highs Progress on development of NeuroPace AI suite of tools utilizing proprietary data Received FDA feedb
Slide 7: 2026 Outlook
2026 Outlook FY26 guidance Key themes & objectives • Drive continued 20%+ RNS growth through prescriber Revenue of expansion, higher utilization, and commercial execution $99.5 million to $101.5 million • Advance our leadership position in personalized, data driven neuromodulation as AI and iEEG dat
Slide 8: U.S. Prevalence: 1/3 of Epilepsy Patients are Drug Refractory
U.S. Prevalence: 1/3 of Epilepsy Patients are Drug Refractory1 Drug-resistant epilepsy (DRE) defined as a patient failing to achieve sustained seizure freedom after trying two antiseizure medications3 DIAGNOSIS & FIRST LINE TREATMENT Patients diagnosed Try multiple anti-epilepsy ~1 in 3 have drug-re
Slide 9: Responsive Neuromodulation Tailored to Each Patient
Responsive Neuromodulation Tailored to Each Patient Monitors brain Recognizes & Responds Records ongoing iEEG activity continuously data for review, insights with tailored stimulation and therapy optimization in real-time Targeted stimulation Physician programmer Implantable neurostimulator Detectio
Slide 10: RNS System Flexibility Enables Diverse Treatment Approaches
RNS® System Flexibility Enables Diverse Treatment Approaches Expanded Therapy Utilization: Strategies for Focal, Drug-Resistant Epilepsy TARGETED NETWORK THERAPY STIMULATION STIMULATION COMBINATIONS For discrete onsets For regional onsets To augment surgery Bilateral & suspected bilateral MTL Region
Slide 11: Impressive Seizure Reductions Improve Over Time
Impressive Seizure Reductions Improve Over Time Post-approval study: largest real-world evidence base in epilepsy neuromodulation Median % Reduction in Seizures Original FDA Study FDA Post Approval 82% 82% Results: Study Results: 75% 73% 75% 72% • Statistically greater • 62% median seizure 67% 69% 6
Slide 12: RNS personalized therapy results in favorable outcomes versus other therapies
RNS personalized therapy results in favorable outcomes versus other therapies 3 Year Median Seizure Reduction (%) 82% 82% Median seizure reduction at 44% 3 years 40% (n=255) The RNS System delivers greater seizure reduction RNSRNS Post-Approval Post-Approval Study Study (n=255) VNSGroup VNS Study St
Slide 13: NAUTILUS Trial: Meaningful Seizure Reduction at 18 Months
NAUTILUS Trial: Meaningful Seizure Reduction at 18 Months Physician Reported Improvement Over Time 77% Clinical Global Impression of Change 100% 20% 7% 13% Median Reduction in 80% 36% 26% 16% GTCs at 18 Months 46% n=40 (p<0.001) 60% 90% 86% 40% 76% • 30% reduction in injury events 75% 70% 63% • 44%
Slide 14: Only RNS System Delivers Truly Personalized Neuromodulation
Only RNS® System Delivers Truly Personalized Neuromodulation 20% of patients are candidates¹ RNS System Vagus Nerve Stimulation Deep Brain Stimulation Surgical (VNS) (DBS) Resection/Ablation Closed-loop, responsive therapy n/a Personalized programming for targeted therapy Continuous iEEG data captur
Slide 15: The Power of RNS Data Today
The Power of RNS Data Today • Unmatched Dataset: 27M+ iEEG recordings, 35,000 patient implant years • RNS enables real-time monitoring, recording, and tailored therapy for drug-resistant epilepsy patients • Only NeuroPace collects and leverages iEEG data at scale • Current Impact: Drives best-in-cla
Slide 16: Building a Proprietary AI Ecosystem
Building a Proprietary AI Ecosystem • Unique & Proprietary: largest epilepsy iEEG dataset growing daily More Patients • Unlike commoditized AI/ML/LLMs, proprietary data creates defensive moat • Every new patient adds to the data advantage; our lead compounds over time Better More iEEG outcomes Data
Slide 17: A large market opportunity with substantial runway for growth
A large market opportunity with substantial runway for growth RNS Addressable Markets (Drug-resistant patients, $ market size) Adult Focal Epilepsy Generalized Epilepsy Pediatric Focal Epilepsy Total • NAUTILUS • NEST/PERC NeuroPace growth initiatives • LGS • DTC • DTC • Community access ~1.2MM1, $5
Slide 18: Addressing a large, underpenetrated opportunity
Addressing a large, underpenetrated opportunity >$3.5B addressable market today with potential to increase as more patients are moved through specialist care5 • 60% Focal: 45K patients core opportunity ($2B+) Current • 40% Generalized: 30K patients core opportunity ($1.5B) Target Massively underpene
Slide 19: Multiple Growth Initiatives Underway to Address This Opportunity
Market Clinical Product Multiple Growth Initiatives Underway to Address This Opportunity Market Clinical Product Development Development Development • Incremental Sales Force • PAS – Adult Focal Expansion • Annual AI SW Releases • NAUTILUS – IGE • Community access • Remote Programming • Pediatric Fo
Slide 20: Closing the Treatment Gap to Drive Long-Term Growth
Market Clinical Product Closing the Treatment Gap to Drive Long-Term Growth Referral marketing to epileptologists Earlier patient education to increase pull through Direct-to-patient Broaden RNS adoption digital marketing Grow the Market Take Share within CECs through CECs Awareness & Commercial Dem
Slide 21: Market Expansion: Community Access
Market Clinical Product Market Expansion: Community Access Bringing the RNS System into the Community Community Expansion – Making the RNS System Accessible outside of Level 4 CECs • Efforts underway to expand to additional 1,800 epileptologists and all functional neurosurgeons practicing Expanding
Slide 22: Closing the Treatment Gap: Enhanced RNS Therapy Access
Market Clinical Product Closing the Treatment Gap: Enhanced RNS Therapy Access Patient Indication • 40% of DRE patients have generalized epilepsy Expansion: RNS • Potential to be first device in U.S. with generalized indication System Access for • Pursue real-world evidence approach to bring access
Slide 23: Bringing the benefits of the RNS System to patients with Generalized Epilepsy
Market Clinical Product Bringing the benefits of the RNS System to patients with Generalized Epilepsy Idiopathic Generalized Epilepsy (IGE) Lennox-Gastaut Syndrome (LGS) Patient/Market Characteristics 40% of DRE patients have generalized epilepsy Devastating generalized epilepsy with frequent seizur
Slide 24: Use Real World Data to Expand RNS System Treatment to Pediatrics
Market Clinical Product Use Real World Data to Expand RNS System Treatment to Pediatrics > 25 peer reviewed Advocacy Group Support publications about RNS • AES Pediatric Special System use in pediatrics Interest Group • Lennox-Gastaut Foundation • Epilepsy Foundation NeuroPace committed to expanding
Slide 25: A robust product pipeline with differentiated features
Market Clinical Product A robust product pipeline with differentiated features Next generation AI-Powered ADAPT System proposes personalized settings based on PDMS architecture seizure morphology and treatment history, for physician to review and finalize Improved efficiency means physicians can tre
Slide 26: Next-generation Platform for Effectiveness, Efficiency, and Innovation
Market Clinical Product Next-generation Platform for Effectiveness, Efficiency, and Innovation Automated, overnight data transfer improves patient experience and expands adoption Next-gen hardware supports future innovation in detection and therapy Adds BLE; modernizes microprocessor, ASIC Maintains
Slide 27: Financial Performance
Financial Performance RNS REVENUE1 (USD, MILLIONS) $25.0 $22.6 $22.5 $22.4 $21.7 $20.0 $18.2 $18.6 $15.0 $10.0 +26.2% +16.4% +31.2% +26.4% +19.5% +21.3% $5.0 $0.0 Q1 2025 Q2 2025 Q3 2025 ` Q4 2025 Q1 2026 Q2 2026 ADJUSTED GROSS PROFIT MARGIN2 84.5% 84.0% 84.0% 83.6% 83.4% 83.5% 83.0% 82.8% 82.5% 82.
Slide 28: Well-positioned for sustainable growth and value creation
Only device with personalized therapy and real-time iEEG monitoring Well-positioned Clinically proven long-term seizure reduction and for sustainable seizure freedom shown in robust clinical trials growth and value creation Market expansion opportunity into generalized epilepsy, pediatrics, and comm
Slide 29: 2025 Non-GAAP Reconciliations from Continuing Operations
2025 Non-GAAP Reconciliations from Continuing Operations Non-GAAP Measure To supplement NeuroPace’s condensed financial statements presented in accordance with GAAP, the Company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures 29 include Adjusted EBITDA,
Slide 30: 2026 Non-GAAP Reconciliations from Continuing Operations
2026 Non-GAAP Reconciliations from Continuing Operations Non-GAAP Measure To supplement NeuroPace’s condensed financial statements presented in accordance with GAAP, the Company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures 30 include Adjusted EBITDA,
Slide 31: Guidance Reconciliation
Guidance Reconciliation Non-GAAP Measure To supplement NeuroPace’s condensed financial statements presented in accordance with GAAP, the Company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures 31 include Adjusted EBITDA, adjusted gross margin, and adjus