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EBR Systems (United States)

American surgical and medical instruments and apparatus company. Summary from the record

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Last updated Oct 19, 2026.

Overview

2003Founded1

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  • TickerNONE- on OTC1
  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersSunnyvale1
  • Websiteebrsystemsinc.com
  • Incorporated inDE3
  • Business address480 Oakmead Parkway, Sunnyvale, Ca 940853
  • Filer category, Emerging growth company3

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EBR Systems (United States) image from its website
Image: ebrsystemsinc.com4

WiSE CRT introduces a novel approach to cardiac pacing, with the potential to transform CRT delivery.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

30.3%Gross margin6
-2850.2%Operating margin6
-3015.3%Net margin6
-190.6%Return on equity6
1.63×Debt to equity6
-$56.9MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

WiSE CRT System brought in 96% of the revenue EBR Systems (United States) broke down this way in fiscal 2025.

  1. WiSE CRT System$1.5M696%
  2. Battery replacements$54.0K63%
  3. Surgical tool kits$15.0K61%
Products and services by year
Products and services2025
WiSE CRT System$1.5M
Battery replacements$54.0K
Surgical tool kits$15.0K

Regions

United States brought in 99% of the revenue EBR Systems (United States) broke down this way in fiscal 2025.

  1. United States$1.6M699%
  2. International$24.0K61%
Regions by year
Regions2025
United States$1.6M
International$24.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue4¢$1.1M
  • Research and development78¢$23.9M
  • Interest18¢$5.6M
  • Income tax0¢$2.0K

Out of $1.6M in revenue.6 The company lost money this year.

Financial statements

Operating income76-$46.1M in 2025+33% since 2023
-$60.0M-$40.0M-$20.0M02023: -$34.5M-$34.5M20232024: -$38.3M-$38.3M2024+11%2025: -$46.1M-$46.1M2025+20%
Net income76-$48.8M in 2025+39% since 2023
-$60.0M-$40.0M-$20.0M02023: -$35.0M-$35.0M20232024: -$40.8M-$40.8M2024+16%2025: -$48.8M-$48.8M2025+20%

Every line of the income statement as filed: the last 2 fiscal years, latest first.6

Period ending2025-12-312024-12-31
Revenue$1.6M
Cost of goods sold$1.1M
Gross profit$490.0K
Research and development$23.9M$27.1M
Selling, general and administrative$22.6M$11.3M
Total operating expenses$46.6M$38.3M
Loss from operations-$46.1M-$38.3M
Interest expense-$5.6M-$6.0M
Interest income$2.7M$3.2M
Other income$304.0K$361.0K
(Loss) gain on foreign currency-$36.0K$10.0K
Total other (expense), net-$2.7M-$2.5M
Loss before income taxes-$48.8M-$40.8M
Income tax expense-$2.0K-$2.0K
Net loss-$48.8M-$40.8M
Net loss per share attributable to common stockholders, basic-$0.12-$0.13
Net loss per share attributable to common stockholders, diluted-$0.12-$0.13
Weighted-average number of common shares outstanding, basic417.3M shares325.0M shares
Weighted-average number of common shares outstanding, diluted417.3M shares325.0M shares

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Leadership

Who has led EBR Systems (United States), and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. John McCutcheon2024–now

President

  1. John McCutcheon2024–now

Chief financial officer

  1. Gary W. Doherty2024–now

Chief operating officer

  1. Michael Hendricksen2024–now
20052010201520202025
Board members and other officers (8)

Former names

  • EBR Systems IncDec 8, 2005 to Feb 10, 20113

Timeline

  1. Sep 30, 2024New chief executive John McCutcheon becomes CEO10
  2. 2003Founded Founded1

Filings

115 filings to the SEC since October 2021: 2 annual reports, 6 quarterly reports, 13 major events, 53 insider forms, 12 large holders, 29 other. The latest 20:

  1. Aug 25, 2026SCHEDULE 13G/A EDGAR
  2. Aug 25, 20264 EDGAR
  3. Aug 24, 2026S-8 EDGAR
  4. Aug 24, 20268-K EDGAR
  5. Aug 20, 20268-K EDGAR
  6. Aug 14, 2026SCHEDULE 13G/A EDGAR
  7. Aug 13, 2026SCHEDULE 13G/A EDGAR
  8. Aug 12, 2026SCHEDULE 13G/A EDGAR
  9. Aug 11, 202610-Q EDGAR
  10. Jul 28, 20264/A EDGAR
  11. Jul 28, 20264/A EDGAR
  12. Jul 28, 20264/A EDGAR
  13. Jul 28, 20264/A EDGAR
  14. Jul 28, 20264/A EDGAR
  15. Jul 28, 20264/A EDGAR
  16. Jul 28, 20264/A EDGAR
  17. Jul 9, 2026DEFA14A EDGAR
  18. Jul 9, 2026DEF 14A EDGAR
  19. Jul 8, 20263 PRIMARY DOCUMENT EDGAR
  20. Jul 7, 20264 EDGAR

The 115 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

1 open-market trades by officers, directors and large owners since October 2021: 1 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 21, 2026Host-Plus Pty Ltd as trustee for the HOSTPLUS Pooled Superannuation Trust10% ownerBuy7,700,119$2.70$20.8MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Sources

The numbers on this page point here. Each one links to the record it came from.

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