NXL on Nasdaq
Nexalin Technology, Inc.
Nexalin is headquartered, and maintains its base of management and operations, in Houston, Texas.3 From its latest annual report
Price unavailable
Last updated Oct 19, 2026.
Overview
Compare with POSITRON CORP, iTonic Holdings Ltd or ENDONOVO THERAPEUTICS, INC., or pick any stock.
- TickerNXL on Nasdaq1
- IndustryElectromedical & Electrotherapeutic Apparatus1
- HeadquartersHouston, Texas1
- Incorporated inDE2
- Business address1776 Yorktown, Suite 550, Houston, Tx 770562
- Filer category, Emerging growth company2
See how the biggest companies compare on our leaderboards
Nexalin is headquartered, and maintains its base of management and operations, in Houston, Texas. We design and develop innovative neurostimulation products to uniquely and effectively help combat the ongoing global mental health epidemic. We developed an easy-to-administer medical device — referred to as “Generation 1” or “Gen-1” — that utilizes bioelectronic medical technology to treat anxiety, insomnia and depression without the need for drugs or psychotherapy. Our original Gen-1 devices are cranial electrotherapy stimulation (CES) devices that emit a waveform at 4 milliamps during treatment and are presently classified by the U.S. Food and Drug Administration (the “FDA”) as a Class II device.3 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
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue1¢$61.4K
- Research and development20¢$1.1M
- Selling, general and admin79¢$4.4M
- Interest0¢$8.2K
Out of $301.6K in revenue.4 The company lost money this year.
Financial statements
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $144.1K5 | $1.3M6 | $110.7K7 | $168.7K4 | $301.6K4 | |
| Cost of revenue | $21.4K5 | $363.2K6 | $25.7K7 | $36.6K4 | $61.4K4 | |
| Gross profit | $122.6K5 | $958.1K6 | $85.1K7 | $132.1K4 | $240.3K4 | |
| Research and development | $1.5M10 | $139.0K5 | $511.0K6 | $1.9M7 | $1.2M4 | $1.1M4 |
| Selling, general and admin | $5.2M5 | $1.5M6 | $1.9M7 | $4.2M4 | $4.4M4 | |
| Operating expenses | $6.1M5 | $2.8M6 | $5.8M7 | $7.9M4 | $8.6M4 | |
| Operating income | -$6.0M5 | -$1.8M6 | -$5.7M7 | -$7.8M4 | -$8.4M4 | |
| Interest | $82.3K5 | $59.4K6 | $38.8K7 | -$3.2K4 | -$8.2K4 | |
| Income before tax | -$4.6M7 | -$7.6M4 | -$8.2M4 | |||
| Net income | -$6.1M5 | -$1.7M6 | -$4.6M7 | -$7.6M4 | -$8.2M4 | |
| Earnings per share | -$0.306 | -$0.637 | -$0.834 | -$0.504 | ||
| Earnings per share (diluted) | -$0.306 | -$0.637 | -$0.834 | -$0.504 | ||
| Shares (weighted, basic) | 5.6M shares6 | 7.4M shares7 | 9.2M shares4 | 16.4M shares4 | ||
| Shares (weighted, diluted) | 5.6M shares6 | 7.4M shares7 | 9.2M shares4 | 16.4M shares4 |
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash | $78.4K5 | $661.8K5 | $162.7K6 | $580.2K7 | $574.5K4 | $654.8K4 |
| Receivables | $16.3K5 | $4.9K6 | $9.4K7 | $13.0K4 | $81.6K4 | |
| Inventory | $31.4K5 | $154.4K6 | $156.4K7 | $174.6K4 | $131.5K4 | |
| Current assets | $752.7K5 | $7.4M6 | $3.4M7 | $4.0M4 | $4.3M4 | |
| Property, plant and equipment | $1.0K5 | $5036 | ||||
| Intangible assets | $105.5K7 | $260.7K4 | $336.0K4 | |||
| Total assets | $753.7K5 | $7.4M6 | $3.6M7 | $4.2M4 | $4.6M4 | |
| Accounts payable | $843.8K5 | $658.4K6 | $159.5K7 | $155.9K4 | $244.6K4 | |
| Current liabilities | $2.4M5 | $1.9M6 | $425.3K7 | $546.7K4 | $887.3K4 | |
| Total liabilities | $2.4M5 | $2.0M6 | $425.3K7 | $546.7K4 | $887.3K4 | |
| Retained earnings | -$70.7M5 | -$72.4M6 | -$77.0M7 | -$84.6M4 | -$92.9M4 | |
| Shareholders’ equity | -$1.6M5 | -$1.7M6 | $5.5M7 | $3.2M4 | $3.7M4 | $3.7M4 |
| Shares outstanding | 4.9M shares5 | 7.3M shares6 | 7.4M shares7 | 13.3M shares4 | 19.2M shares4 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Leadership
Who has led Nexalin Technology, Inc., and when. Pick a name to see everywhere that person has worked.
Chief financial officer
- Chief financial officerMarilyn Elson Sep 19, 2022 to Oct 5, 202311
Board members and other officers (4)
- Senior VPCarolyn Hamby Shelton Feb 10, 2025 to now12
- Board memberLeslie Bernhard Oct 2, 2024 to now13
- Board memberAlan Kazden Sep 19, 2022 to now14
- Board memberRick Morad Sep 19, 2022 to Jun 30, 202315
Filings
200 filings to the SEC since October 2021: 6 annual reports, 12 quarterly reports, 48 major events, 57 insider forms, 2 large holders, 75 other. The latest 20:
- Oct 8, 2026S-1/A EDGAR
- Oct 1, 20268-K EDGAR
- Oct 1, 20268-K EDGAR
- Sep 28, 20268-K EDGAR
- Sep 22, 2026S-8 EDGAR
- Sep 3, 2026SCHEDULE 13D EDGAR
- Sep 3, 2026S-1 EDGAR
- Sep 2, 20268-K EDGAR
- Aug 27, 20268-K EDGAR
- Aug 27, 2026SCHEDULE 13G EDGAR
- Aug 21, 20268-K EDGAR
- Aug 20, 20268-K EDGAR
- Aug 20, 2026424B5 EDGAR
- Aug 17, 20268-K EDGAR
- Aug 12, 202610-Q EDGAR
- Aug 11, 20268-K EDGAR
- Jul 29, 20268-K EDGAR
- Jul 27, 20268-K EDGAR
- Jul 10, 2026ARS EDGAR
- Jul 10, 2026DEF 14A EDGAR
The 200 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
23 open-market trades by officers, directors and large owners since October 2021: 23 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Mar 12, 2025 | Shelton Carolyn HambySr. VP - Quality - Regulatory | Buy | 6,000 | $2.20 | $13.2K | Form 4 |
| Feb 4, 2025 | Owens DavidChief Medical Officer | Buy | 1,000 | $3.10 | $3.1K | Form 4 |
| Feb 4, 2025 | Owens DavidChief Medical Officer | Buy | 1,000 | $2.98 | $3.0K | Form 4 |
| Jan 28, 2025 | Owens DavidChief Medical Officer | Buy | 1,500 | $2.70 | $4.0K | Form 4 |
| Jan 23, 2025 | Owens DavidChief Medical Officer | Buy | 1,000 | $2.70 | $2.7K | Form 4 |
| Jan 13, 2025 | Owens DavidChief Medical Officer | Buy | 2,000 | $2.50 | $5.0K | Form 4 |
| Dec 20, 2024 | Owens DavidChief Medical Officer | Buy | 1,000 | $2.75 | $2.8K | Form 4 |
| Oct 28, 2024 | Owens DavidChief Medical Officer | Buy | 500 | $2.19 | $1.1K | Form 4 |
| Oct 14, 2024 | Shelton Carolyn HambySr. VP - Quality - Regulatory | Buy | 24,000 | $0.85 | $20.4K | Form 4 |
| Aug 13, 2024 | Owens DavidChief Medical Officer | Buy | 1,000 | $0.95 | $950 | Form 4 |
| Jun 28, 2024 | Owens DavidChief Medical Officer | Buy | 1,000 | $1.75 | $1.8K | Form 4 |
| Jun 18, 2024 | Owens DavidChief Medical Officer | Buy | 1,619 | $0.71 | $1.1K | Form 4 |
| Jun 10, 2024 | Owens DavidChief Medical Officer | Buy | 3,000 | $0.64 | $1.9K | Form 4 |
| Sep 28, 2022 | OSSER LEONARD10% owner | Buy | 9,500 | $1.12 | $10.6K | Form 4 |
| Sep 16, 2022 | Morad RickDirector | Buy | 2,500 | $4.15 | $10.4K | Form 4 |
| Sep 16, 2022 | Kazden AlanDirector | Buy | 2,500 | $4.15 | $10.4K | Form 4 |
| Sep 16, 2022 | OSSER LEONARD10% owner | Buy | 36,000 | $4.15 | $149.4K | Form 4 |
| Sep 16, 2022 | Morad RickDirector | Buy | 2,500 | $4.15 | $10.4K | Form 4 |
| Sep 16, 2022 | Kazden AlanDirector | Buy | 2,500 | $4.15 | $10.4K | Form 4 |
| Sep 16, 2022 | Owens DavidChief Medical Officer | Buy | 2,500 | $4.15 | $10.4K | Form 4 |
All 23 trades can be filtered by person here when JavaScript is on.
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.
- Greenlight Ventures, LLCSCHEDULE 13D, 1 filing Sep 3, 202616
- Alumni Capital LPSCHEDULE 13G, 1 filing Aug 27, 202617
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12SEC EDGARCarolyn Hamby Shelton, Senior VP
- 13SEC EDGARLeslie Bernhard, Board member
- 14SEC EDGARAlan Kazden, Board member
- 15SEC EDGARRick Morad, Board member
- 16
- 17