Forensic Analysis · Industrials / Manufacturing / Defense · as of Sep 17, 2026

Neuraxis, Inc (NRXS)

A forensic read on Neuraxis, Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Distress

Financial health

-36.9

Distress distance

Clean

Earnings quality

Forensic signals

-229.5%

ROE

32.9%

Revenue growth

The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Neuraxis, Inc earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -36.9, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 3 forensic signals were flagged in its latest SEC filings, led by inventory days.

What the filings flag

98d

FY2024→FY2025

Inventory days. Days inventory outstanding moved from 33 to 98 FY2024→FY2025 (against cost of goods sold; inventory +480% vs +56% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.

n/m (stock split)

FY2023–FY2025

Share count (stock split). Diluted share count changed +179% over the last 2 years to FY2025, but that includes a large one-time change around FY2024 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw +67.1%/yr figure isn't a real buyback/dilution read here.

17% of rev

FY2025

Stock-based comp load. Stock-based compensation ran 17% of revenue in FY2025 — about $0.07 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 31.3% a year, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.

Key fundamentals

Latest Revenue$3.6M

Revenue Growth YoY+32.9%

Net Margin-218.5%

Free Cash Flow-$6.5M

Return on Equity-229.5%

Debt / Equity0.04x

The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Neuraxis, Inc's actual 10-K/10-Q/8-K filings?

Generate the AI investment read →

No credit card · informational only, not investment advice · see the track record

← Browse all forensic stock analyses

Data from SEC EDGAR public filings · metrics as of Sep 17, 2026. Forensic signals flag probability, not certainty.