Ceribell, Inc.
CBLL · Electromedical & Electrotherapeutic Apparatus · 37.9M shares · +125%/yr ↑ dilution · EDGAR filings ↗
Reference price $18.41 · est. market cap ~$699M — last insider sale, 2026-06-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C60Ceribell — point-of-care EEG/seizure-detection medtech, high-growth and well-funded.
Strengths
- Gross margin 88% (96th pct); revenue +36%; exceptional liquidity (current 9.7), long runway
- Differentiated AI-EEG platform
Risks
- Operating margin -66%; ongoing cash burn
- Adoption-pace and reimbursement risk
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -60.0%)
- Cash burnNegative free cash flow (-41.6M)
- Chronic dilutionShare count +125%/yr over 1y (dilution, book value/share -64%)
- Strong balance sheetStrong balance sheet — $159M cash & investments, ~15 quarters of runway
- Insider sellingInsider selling — 58 open-market sale(s) by 8 insider(s) (cluster of 8 insiders, ~$8M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
87.9%
Operating margin
-65.6%
Net margin
-60.0%
Return on equity
-34.4%
Return on assets
-27.3%
Revenue growth (QoQ)
6.9%
Current ratio
9.7×
Free cash flow
-$42M
EBITDA
-$57M
Tangible book value
$155M
Cash & investments
$159M
Cash runway
15q
Stock comp / revenue
13.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-11 | Taylor Joseph Michael | Sell | 5.5K | $18.41 |
| 2026-06-08 | Chao Xingjuan | Sell | 14K | $18.33 |
| 2026-06-08 | Chao Xingjuan | Option exercise | 1.4K | $4.70 |
| 2026-06-08 | Chao Xingjuan | Sell | 1.4K | $18.33 |
| 2026-06-08 | Chao Xingjuan | Option exercise | 24K | $4.70 |
| 2026-06-08 | Chao Xingjuan | Sell | 24K | $18.33 |
| 2026-06-02 | Rogers Erica J. | Grant | 7.8K | — |
| 2026-06-02 | Tammenoms Bakker Juliet | Grant | 7.8K | — |
| 2026-06-02 | Parvizi Josef | Grant | 7.8K | — |
| 2026-06-02 | ROBERTSON REBECCA B | Grant | 7.8K | — |
| 2026-06-02 | BURKE WILLIAM W | Grant | 7.8K | — |
| 2026-06-02 | Taylor Joseph Michael | Grant | 7.8K | — |
| 2026-05-22 | Foehr David | Sell | 862 | $18.80 |
| 2026-05-21 | Blumberg Scott | Sell | 1.4K | $18.00 |
| 2026-05-21 | Manni Joseph S. | Sell | 1.4K | $18.00 |
| 2026-05-21 | Foehr David | Sell | 987 | $18.00 |
| 2026-05-21 | Woo Raymond | Sell | 2.0K | $18.00 |
| 2026-05-21 | Chao Xingjuan | Sell | 6.0K | $18.00 |
| 2026-05-05 | Chao Xingjuan | Option exercise | 24K | $4.70 |
| 2026-05-05 | Chao Xingjuan | Sell | 14K | $20.12 |
| 2026-05-05 | Chao Xingjuan | Option exercise | 1.4K | $4.70 |
| 2026-05-05 | Chao Xingjuan | Sell | 1.4K | $20.12 |
| 2026-05-05 | Chao Xingjuan | Sell | 24K | $20.09 |
| 2026-05-01 | Woo Raymond | Option exercise | 6.6K | $4.70 |
| 2026-05-01 | Woo Raymond | Option exercise | 1.5K | $2.24 |
| 2026-05-01 | Woo Raymond | Sell | 1.5K | $20.39 |
| 2026-05-01 | Woo Raymond | Option exercise | 3.0K | $4.70 |
| 2026-05-01 | Woo Raymond | Sell | 3.0K | $20.43 |
| 2026-05-01 | Woo Raymond | Sell | 6.6K | $20.45 |
| 2026-04-06 | Chao Xingjuan | Option exercise | 24K | $4.70 |
| 2026-04-06 | Chao Xingjuan | Sell | 14K | $18.40 |
| 2026-04-06 | Chao Xingjuan | Option exercise | 1.4K | $4.70 |
| 2026-04-06 | Chao Xingjuan | Sell | 1.4K | $18.40 |
| 2026-04-06 | Chao Xingjuan | Sell | 24K | $18.40 |
| 2026-04-01 | Woo Raymond | Sell | 6.6K | $18.57 |
| 2026-04-01 | Chao Xingjuan | Grant | 98K | — |
| 2026-04-01 | Blumberg Scott | Grant | 31K | — |
| 2026-04-01 | Foehr David | Grant | 22K | — |
| 2026-04-01 | Manni Joseph S. | Grant | 31K | — |
| 2026-04-01 | Woo Raymond | Option exercise | 1.5K | $2.24 |
| 2026-04-01 | Woo Raymond | Sell | 1.5K | $18.58 |
| 2026-04-01 | Woo Raymond | Option exercise | 3.0K | $4.70 |
| 2026-04-01 | Woo Raymond | Sell | 3.0K | $18.53 |
| 2026-04-01 | Woo Raymond | Option exercise | 6.6K | $4.70 |
| 2026-04-01 | Woo Raymond | Grant | 31K | — |
| 2026-03-25 | Chao Xingjuan | Option exercise | 37K | $2.24 |
| 2026-03-25 | Chao Xingjuan | Option exercise | 19K | $3.65 |
| 2026-03-03 | Foehr David | Sell | 3.4K | $17.80 |
| 2026-03-03 | Foehr David | Option exercise | 1.2K | $4.70 |
| 2026-03-03 | Foehr David | Sell | 1.2K | $17.80 |
| 2026-03-03 | ROBERTSON REBECCA B | Sell | 827 | $17.80 |
| 2026-03-03 | Chao Xingjuan | Sell | 14K | $17.45 |
| 2026-03-03 | Chao Xingjuan | Option exercise | 1.4K | $4.70 |
| 2026-03-03 | Foehr David | Option exercise | 3.4K | $4.70 |
| 2026-03-03 | Chao Xingjuan | Sell | 1.4K | $17.46 |
| 2026-03-03 | Chao Xingjuan | Option exercise | 24K | $4.70 |
| 2026-03-03 | Chao Xingjuan | Sell | 24K | $17.45 |
| 2026-03-02 | Woo Raymond | Option exercise | 3.0K | $4.70 |
| 2026-03-02 | Woo Raymond | Option exercise | 1.5K | $2.24 |
| 2026-03-02 | Woo Raymond | Sell | 1.5K | $18.26 |
| 2026-03-02 | Woo Raymond | Sell | 6.6K | $18.25 |
| 2026-03-02 | Woo Raymond | Option exercise | 6.6K | $4.70 |
| 2026-03-02 | Woo Raymond | Sell | 3.0K | $18.26 |
| 2026-02-24 | Foehr David | Sell | 781 | $19.98 |
| 2026-02-23 | Manni Joseph S. | Sell | 768 | $19.79 |
| 2026-02-23 | Foehr David | Sell | 569 | $19.79 |
| 2026-02-23 | Woo Raymond | Sell | 705 | $19.79 |
| 2026-02-23 | Blumberg Scott | Sell | 808 | $19.79 |
| 2026-02-23 | Chao Xingjuan | Sell | 2.1K | $19.79 |
| 2026-02-19 | Parvizi Josef | Sell | 17K | $20.27 |
| 2026-02-18 | Parvizi Josef | Sell | 7.0K | $20.00 |
| 2026-02-17 | Parvizi Josef | Sell | 1.3K | $20.00 |
| 2026-02-04 | Chao Xingjuan | Sell | 1.4K | $20.16 |
| 2026-02-04 | Chao Xingjuan | Sell | 24K | $20.16 |
| 2026-02-04 | Chao Xingjuan | Option exercise | 24K | $4.70 |
| 2026-02-04 | Chao Xingjuan | Sell | 14K | $20.16 |
| 2026-02-04 | Chao Xingjuan | Option exercise | 1.4K | $4.70 |
| 2026-02-03 | Foehr David | Option exercise | 2.2K | $4.70 |
| 2026-02-03 | Foehr David | Option exercise | 3.4K | $4.70 |
| 2026-02-03 | Foehr David | Sell | 3.4K | $20.00 |
| 2026-02-03 | Foehr David | Sell | 2.2K | $20.00 |
| 2026-02-02 | Woo Raymond | Option exercise | 6.6K | $4.70 |
| 2026-02-02 | Woo Raymond | Option exercise | 1.5K | $2.24 |
| 2026-02-02 | Woo Raymond | Sell | 1.5K | $20.57 |
| 2026-02-02 | Woo Raymond | Option exercise | 3.0K | $4.70 |
| 2026-02-02 | Woo Raymond | Sell | 6.6K | $20.54 |
| 2026-02-02 | Woo Raymond | Sell | 3.0K | $20.57 |
| 2026-01-15 | Parvizi Josef | Sell | 25K | $22.94 |
| 2026-01-05 | Chao Xingjuan | Option exercise | 1.4K | $4.70 |
| 2026-01-05 | Foehr David | Option exercise | 3.4K | $4.70 |
| 2026-01-05 | Foehr David | Sell | 3.4K | $22.60 |
| 2026-01-05 | Foehr David | Option exercise | 2.2K | $4.70 |
| 2026-01-05 | Foehr David | Sell | 2.2K | $22.60 |
| 2026-01-05 | Chao Xingjuan | Sell | 54K | $21.31 |
| 2026-01-05 | Chao Xingjuan | Sell | 1.4K | $21.21 |
| 2026-01-05 | Chao Xingjuan | Option exercise | 24K | $4.70 |
| 2026-01-05 | Chao Xingjuan | Sell | 24K | $21.17 |
| 2026-01-02 | Woo Raymond | Sell | 3.0K | $21.18 |
| 2026-01-02 | Woo Raymond | Option exercise | 6.6K | $4.70 |
| 2026-01-02 | Woo Raymond | Sell | 6.6K | $21.16 |
| 2026-01-02 | ROBERTSON REBECCA B | Option exercise | 2.5K | $2.24 |
| 2026-01-02 | ROBERTSON REBECCA B | Sell | 2.5K | $21.89 |
| 2026-01-02 | Woo Raymond | Option exercise | 1.5K | $2.24 |
| 2026-01-02 | Woo Raymond | Sell | 1.5K | $21.29 |
| 2026-01-02 | Woo Raymond | Option exercise | 3.0K | $4.70 |
| 2025-12-22 | Blumberg Scott | Sell | 4.8K | $21.00 |
| 2025-12-22 | Blumberg Scott | Sell | 20K | $21.00 |
| 2025-12-22 | Blumberg Scott | Option exercise | 20K | $4.70 |
| 2025-12-22 | Blumberg Scott | Sell | 12K | $21.00 |
| 2025-12-22 | Blumberg Scott | Option exercise | 4.8K | $3.65 |
| 2025-12-22 | Blumberg Scott | Option exercise | 12K | $3.65 |
| 2025-12-15 | Parvizi Josef | Sell | 25K | $21.49 |
| 2025-12-09 | BURKE WILLIAM W | Option exercise | 9.7K | $2.26 |
| 2025-12-09 | BURKE WILLIAM W | Sell | 9.7K | $22.02 |
| 2025-12-09 | BURKE WILLIAM W | Option exercise | 23K | $4.70 |
| 2025-12-09 | BURKE WILLIAM W | Sell | 23K | $22.02 |
| 2025-12-08 | Parvizi Josef | Sell | 25K | $20.26 |
| 2025-12-08 | ROBERTSON REBECCA B | Sell | 5.0K | $20.00 |
| 2025-12-08 | ROBERTSON REBECCA B | Option exercise | 5.0K | $2.24 |
| 2025-12-04 | Chao Xingjuan | Sell | 25K | $18.82 |
| 2025-12-04 | Chao Xingjuan | Option exercise | 25K | $2.24 |
| 2025-12-03 | Foehr David | Sell | 2.2K | $16.83 |
| 2025-12-03 | Foehr David | Option exercise | 2.2K | $4.70 |
| 2025-12-03 | Foehr David | Sell | 2.2K | $16.83 |
| 2025-12-03 | Foehr David | Option exercise | 2.2K | $4.70 |
| 2025-12-03 | Foehr David | Sell | 866 | $16.83 |
| 2025-12-02 | ROBERTSON REBECCA B | Sell | 827 | $16.67 |
| 2025-12-01 | Woo Raymond | Option exercise | 3.0K | $4.70 |
| 2025-12-01 | Woo Raymond | Sell | 11K | $12.28 |
| 2025-12-01 | Chao Xingjuan | Option exercise | 25K | $3.65 |
| 2025-12-01 | Chao Xingjuan | Sell | 25K | $16.59 |
| 2025-12-01 | Woo Raymond | Option exercise | 1.5K | $2.24 |
| 2025-12-01 | Woo Raymond | Option exercise | 6.6K | $4.70 |
| 2025-11-21 | Chao Xingjuan | Option exercise | 25K | $3.65 |
| 2025-11-21 | Chao Xingjuan | Option exercise | 25K | $2.24 |
| 2025-11-21 | Chao Xingjuan | Sell | 50K | $15.13 |
| 2025-11-20 | Woo Raymond | Tax withheld | 687 | $13.64 |
| 2025-11-20 | Foehr David | Tax withheld | 484 | $13.64 |
| 2025-11-20 | Chao Xingjuan | Tax withheld | 2.9K | $13.64 |
| 2025-11-20 | Blumberg Scott | Tax withheld | 687 | $13.64 |
| 2025-11-20 | Manni Joseph S. | Tax withheld | 660 | $13.64 |
| 2025-11-11 | Woo Raymond | Option exercise | 6.6K | $4.70 |
| 2025-11-11 | Woo Raymond | Option exercise | 1.5K | $2.24 |
| 2025-11-11 | Woo Raymond | Option exercise | 3.0K | $4.70 |
| 2025-11-11 | Woo Raymond | Sell | 11K | $12.28 |
| 2025-10-03 | Woo Raymond | Sell | 11K | $12.54 |
| 2025-10-03 | Woo Raymond | Option exercise | 1.5K | $2.24 |
| 2025-10-03 | Woo Raymond | Option exercise | 6.6K | $4.70 |
| 2025-10-03 | Woo Raymond | Option exercise | 3.0K | $4.70 |
| 2025-09-17 | Rogers Erica J. | Grant | 25K | — |
| 2025-09-04 | Woo Raymond | Option exercise | 1.5K | $2.24 |
| 2025-09-04 | Woo Raymond | Option exercise | 6.6K | $4.70 |
| 2025-09-04 | Woo Raymond | Sell | 11K | $12.11 |
| 2025-09-04 | Woo Raymond | Option exercise | 3.0K | $4.70 |
| 2025-09-03 | ROBERTSON REBECCA B | Sell | 827 | $11.36 |
| 2025-09-02 | Woo Raymond | Option exercise | 20K | $2.24 |
| 2025-08-27 | Foehr David | Sell | 866 | $11.71 |
| 2025-08-25 | Foehr David | Tax withheld | 484 | $11.58 |
| 2025-08-25 | Chao Xingjuan | Tax withheld | 2.9K | $11.58 |
| 2025-08-25 | Blumberg Scott | Tax withheld | 687 | $11.58 |
| 2025-08-25 | Manni Joseph S. | Tax withheld | 660 | $11.58 |
| 2025-08-25 | Woo Raymond | Tax withheld | 687 | $11.58 |
| 2025-08-19 | Taylor Joseph Michael | Sell | 7.0K | $11.76 |
| 2025-07-07 | Chao Xingjuan | Option exercise | 25K | $2.24 |
| 2025-07-07 | Chao Xingjuan | Sell | 25K | $17.70 |
| 2025-06-18 | ROBERTSON REBECCA B | Sell | 11K | $17.85 |
| 2025-06-17 | ROBERTSON REBECCA B | Sell | 7.4K | $17.63 |
| 2025-06-17 | ROBERTSON REBECCA B | Sell | 7.4K | $17.63 |
| 2025-06-16 | ROBERTSON REBECCA B | Option exercise | 19K | $3.65 |
| 2025-06-16 | ROBERTSON REBECCA B | Option exercise | 545 | $2.24 |
| 2025-06-16 | ROBERTSON REBECCA B | Sell | 20K | $17.14 |
| 2025-06-10 | Parvizi Josef | Grant | 8.8K | — |
| 2025-06-10 | BURKE WILLIAM W | Grant | 8.8K | — |
| 2025-06-10 | ROBERTSON REBECCA B | Grant | 8.8K | — |
| 2025-06-10 | Tammenoms Bakker Juliet | Grant | 8.8K | — |
| 2025-06-10 | Taylor Joseph Michael | Grant | 8.8K | — |
| 2025-06-03 | Chao Xingjuan | Option exercise | 25K | $2.24 |
| 2025-06-03 | Chao Xingjuan | Sell | 25K | $17.00 |
| 2025-05-15 | Chao Xingjuan | Option exercise | 49K | $0.39 |
| 2025-05-15 | Chao Xingjuan | Option exercise | 25K | $2.24 |
| 2025-05-15 | Chao Xingjuan | Sell | 25K | $16.96 |
| 2025-04-23 | Chao Xingjuan | Option exercise | 16K | $2.24 |
| 2025-04-23 | Chao Xingjuan | Sell | 16K | $15.11 |
| 2025-04-22 | Chao Xingjuan | Sell | 300 | $15.06 |
| 2025-04-22 | Chao Xingjuan | Option exercise | 300 | $2.24 |
| 2025-04-21 | Chao Xingjuan | Option exercise | 3.4K | $2.24 |
| 2025-04-21 | Chao Xingjuan | Sell | 3.4K | $15.03 |
| 2025-04-17 | Chao Xingjuan | Option exercise | 5.7K | $2.24 |
| 2025-04-17 | Chao Xingjuan | Sell | 5.7K | $15.02 |
| 2025-04-01 | Chao Xingjuan | Grant | 91K | — |
| 2025-04-01 | Blumberg Scott | Grant | 31K | — |
| 2025-04-01 | Manni Joseph S. | Grant | 28K | — |
| 2025-04-01 | Foehr David | Grant | 22K | — |
| 2025-04-01 | Woo Raymond | Grant | 31K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07485244 ↗ | EEG Abnormalities in Adult ICU Patients With High Risk of Delirium Delirium in the Intensive Care Unit | — | Recruiting | 2026-12-31 |
| NCT04962815 ↗ | Ceribell Delirium Data Collection Study Delirium | — | Recruiting | 2025-12-31 |
| NCT07449416 ↗ | Ceribell Delirium Monitor Outcomes Pilot Study Delirium in the Intensive Care Unit | NA | Not Yet Recruiting | 2026-09-01 |
| NCT03534258 ↗ | Does Use of Rapid Response EEG Impact Clinical Decision Making Nonconvulsive Status Epilepticus, Seizures | — | Completed | 2019-04-30 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-02 | 2026-06-02 | 0001193125-26-253558 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001193125-26-217008 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001193125-26-216821 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001193125-26-067136 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001193125-26-067238 ↗ |
| 8-K | 2026-01-05 | 2026-01-05 | 0001193125-26-001800 ↗ |
| 8-K | 2026-01-02 | 2025-12-30 | 0001193125-26-000994 ↗ |
| 8-K | 2025-12-12 | 2025-12-11 | 0001193125-25-317295 ↗ |
| 8-K | 2025-12-09 | 2025-12-09 | 0001193125-25-312035 ↗ |
| 8-K | 2025-11-24 | 2025-11-24 | 0001193125-25-292140 ↗ |
| 10-Q | 2025-11-04 | 2025-09-30 | 0001193125-25-264882 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0001193125-25-264699 ↗ |