Nexalin Technology, Inc. · Electromedical & Electrotherapeutic Apparatus

NXL

High riskNext report: Not enough history

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The short version

A company still losing money with shrinking sales, with high risk. Institutions are trimming.

Going well

Sales up 79% last year
No debt reported

Watch out for

Sales down 83% in the latest quarter vs a year ago
About 2 months of cash left at its current burn
Share count growing 43.3% a year (dilution)

Money moves

No insider buying or selling in the last 30 days
Institutions cut 20% from their holdings in the quarter ending June 2026 (6 bought, 12 sold)

Facts from SEC filings, not a recommendation.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$12K-83% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $217K, up 24% from the 12 months before.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

2/6Weak

PassDebt under half of equityNot relying on borrowed money.No debt reported
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.Losses many times its sales
MissProfitable every yearSteady profits, not one good year.0 of 5 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$5.0M
MissShare count not growingNot diluting owners. Falling means buybacks.+194.2% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.79.7%

Revenue: $302K; +78.8% vs prior year
Total debt: None; 0.00x equity
Current ratio: 4.85x; short-term assets / bills due
Free cash flow: -$5.0M; -1643.5% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Revenue: $12K; -82.8% YoY
EPS: -$0.11; vs -$0.10
Op. margin: -18479.7%; -16183.5 pts
Gross margin: 73.2%; +5.6 pts
Free cash flow: -$1.8M
Share count: +34.5%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 1
Normal week: 1.5
vs normal: 0.7x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Distributing-20.4%

Institutions cut 20.4% from their holdings. 6 bought, 12 sold. 2 quarters of net selling in a row.

Shares held by institutions849K

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+43.5%

Cash runwayAt last year's cash burn

2 months

Debt to equityLatest balance sheet: debt compared with what owners have

No debt reported

Shares outstandingLatest reported

22M

Why high risk

Losing money, losses are large next to sales
About 2 months of cash left at its current burn
Share count growing 43.5% a year (dilution)
5 offering filings in 6 months (may sell new shares)
Exchange listing notice (a delisting warning or a move to another exchange)

Earnings reports

Last 0

Next reportNot enough history

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

Share offering registration (amended)Oct 8 · View filing ↗Offering Listing standards noticeSep 28 · View filing ↗Red flag New 5%+ holder (active)Sep 3 · View filing ↗Activist Share offering registrationSep 3 · View filing ↗Offering New 5%+ holder (passive)Aug 27 · View filing ↗Big holder Major agreementAug 20 · View filing ↗Offering Offering prospectusAug 20 · View filing ↗Offering Listing standards noticeAug 17 · View filing ↗Red flag Listing standards noticeJul 27 · View filing ↗Red flag Major agreementMay 19 · View filing ↗Offering Listing standards noticeJan 23 · View filing ↗Red flag

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

PRE 14AOct 27 · Form PRE 14A ↗EFFECTOct 15 · Form EFFECT ↗Share offering registration (amended)Oct 8 · Form S-1/A ↗Major agreementOct 1 · Form 8-K ↗Other company newsOct 1 · Form 8-K ↗Listing standards noticeSep 28 · Form 8-K ↗Employee stock plan registrationSep 22 · Form S-8 ↗New 5%+ holder (active)Sep 3 · Form SCHEDULE 13D ↗Share offering registrationSep 3 · Form S-1 ↗Leadership changeSep 2 · Form 8-K ↗New 5%+ holder (passive)Aug 27 · Form SCHEDULE 13G ↗Charter or share changeAug 27 · Form 8-K ↗Major agreementAug 21 · Form 8-K ↗Offering prospectusAug 20 · Form 424B5 ↗Major agreementAug 20 · Form 8-K ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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