Latest revenue
$21.1K
as of 2026-03-31
Latest net income
$-2.9M
as of 2026-03-31
Net margin
-13498.5%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $7.9M
- Enterprise value
- $7.9M
- P/E (trailing)
- —
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 0.0%
- 52-wk high
- $12.03
- 52-wk low
- $2.34
- Beta
- —
- Shares out
- 2.5M
5-year trend
What this company does
Aclarion sells NOCISCAN, a software platform that analyzes MRI spectroscopy data to identify which spinal discs are causing a patient's chronic low back pain. The company generates revenue by charging for these diagnostic reports ordered by surgeons evaluating patients for lumbar spine surgery, though sales remain minimal to date. Aclarion is pre-commercial in practice: its technology only works on certain Siemens MRI scanners (recently expanded to a first Philips site), and adoption hinges on hospitals installing $25,000–$50,000 spectroscopy software.
Generated from ACON's filing dated 2026-03-18
Key risks
- Pre-revenue commercialization: Aclarion has 'limited sales to date' despite NOCISCAN launch, raising going-concern and dilution risk for shareholders.
- Platform dependency: NOCISCAN is compatible only with certain SIEMENS scanners (~1,500 U.S./4,320 globally); Philips expansion just began Q1 2025.
- Reimbursement uncertainty: Technology relies on Category III CPT codes (temporary, often unreimbursed), and adoption requires sites to buy $25K–$50K MRS software.
Generated from ACON's filing dated 2026-03-18
Profitability
Gross margin
9.0%
110.6%Operating margin
-9312.5%
22.8%Net margin
-9551.9%
37.5%Return on equity
-745.7%
177.6%Return on assets
-52.9%
83.9%Leverage
Debt / equity
13.09×
434.3%Debt / assets
92.9%
30.8%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $21.1K | +11.3% | $-2.9M | -40.1% | -13498.5% |
Q4 2025 2025-12-31 | $18.5K | +80.6% | $-1.9M | +5.0% | -10223.7% |
Q3 2025 2025-09-30 | $18.9K | +31.5% | $-1.7M | -24.9% | -9008.0% |
Q2 2025 2025-06-30 | $19.3K | +76.1% | $-1.6M | -29.3% | -8285.9% |
Q1 2025 2025-03-31 | $19.0K | +87.8% | $-2.0M | +15.1% | -10728.4% |
Q4 2024 2024-12-31 | $10.2K | — | $-2.0M | — | -19444.6% |
Q3 2024 2024-09-30 | $14.4K | -24.4% | $-1.4M | -36.9% | -9482.7% |
Q2 2024 2024-06-30 | $11.0K | -35.7% | $-1.2M | +15.5% | -11285.0% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Services-Medical Laboratories · SIC 8071
Your notes
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Insider activity
Insider buying
$51.0K
Insider selling
$0
Net activity
+$51.0K
Distinct insiders
4
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns ACON
Institutional value
$86.4K
Total shares held
26.4K
Distinct holders
5
-3 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BANK OF MONTREAL /CAN/ | 10.0K | $32.7K | — | New |
| 2 | UBS Group AG | 9.6K | $31.5K | +8.6K (+818.8%) | Added |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 6.8K | $22.2K | — | New |
| 4 | DANSKE BANK A/S | 1 | $3 | +0 (+0.0%) | No change |
| 5 | CITIGROUP INC | 1 | $3 | +0 (+0.0%) | No change |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With limited revenue to date and a $134.5B TAM cited, what specific Nociscan volume and ASP run-rate exit 2025, and when does cash flow break-even?
- 2
What is your current cash runway, burn rate, and do you anticipate another dilutive raise in 2026 given Nasdaq listing requirements?
- 3
Only Category III CPT codes exist—what concrete payer wins or Category I timeline justify scaling commercial spend before reimbursement is established?
Refreshed when ACON files a new report · last from 2026-03-18