Ceribell, Inc. (NASDAQ: CBLL)

Ceribell, Inc. is a medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions. The company has developed the Ceribell System, a point of care EEG platform designed for the acute care setting. By combining proprietary highly portable hardware with AI powered algorithms, the Ceribell System enables rapid diagnosis and continuous monitoring of patients at risk of seizures. Ceribell, Inc. operates in the medical technology industry, specifically within neurological monitoring and EEG solutions.

We generate revenue primarily from two recurring sources. The first is the sale of single use disposable Wearables that are intended for one patient use. The second is a monthly subscription fee charged to hospital customers for access to Clarity, the recorder device and the cloud based portal. This subscription provides ongoing use of the seizure detection algorithm and related software updates. Revenue is derived from healthcare providers in the United States who adopt the Ceribell System in their acute care facilities.

Ceribell, Inc. holds a strong competitive position in the EEG market as a first mover with regulatory clearances that competitors lack. In May 2023 the company received FDA 510k clearance for Clarity, the first device cleared for diagnosing electrographic status epilepticus in adult patients. In December 2025 the FDA granted 510k clearance for the company's proprietary delirium monitoring solution, marking it as the first and only FDA cleared delirium detection and monitoring device. The company also secured a New Technology Add on Payment from CMS for its Clarity algorithm, providing additional reimbursement incentives for hospitals. Key competitors include conventional EEG providers such as Natus Medical Incorporated and Nihon Kohden Corporation, as well as emerging rapid EEG companies like Zeto. Ceribell differentiates itself through its AI powered algorithms, a robust intellectual property portfolio of 58 issued and pending patents, and a clinical evidence base of over 140 peer reviewed publications. These advantages support its goal of becoming the standard of care for seizure detection and management in the acute care setting.

The company serves hospitals and acute care facilities across the United States. As of December 31 2025 the Ceribell System had been adopted by more than 600 hospitals ranging from top academic medical centers to small community hospitals. The customer base includes intensive care units, emergency departments and other acute care settings where patients are at risk of seizures, delirium or stroke. Specific customer names are not disclosed in the filing, but the company indicates that its clients span a broad spectrum of healthcare providers seeking EEG monitoring solutions.