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electroCore Announces Second Quarter 2021 Financial Results Second quarter 2021 net sales of $ 1.3 million , increased 69 % over second quarter 2020 and 5 % sequentially Company to host a conference call and webcast today , August 5 , 2021 at 4:30 pm ET ROCKAWAY , N.J. , August 05 , 2021 ( GLOBE NEWSWIRE ) -- electroCore , Inc. ( Nasdaq : ECOR ) , a commercial - stage bioelectronic medicine company , announced second quarter 2021 financial results and provided an operational update . Second Quarter 2021 and Recent Highlights Posted revenue of $ 1.3 million , representing an increase of 5 % sequentially and 69 % over second quarter of 2020 Net cash used was $ 3.2 million during the second quarter of 2021 leaving approximately $ 23.7 million of cash , cash equivalents , and marketable securities at June 30 , 2021 A follow - on public offering subsequent to June 30 , 2021 added approximately $ 18.8 million of net proceeds Dan Goldberger , Chief Executive Officer of electroCore , commented : " We are pleased that our second quarter results were in line with expectations , representing revenue growth of 69 % year - over - year and 5 % over first quarter of 2021. We saw continued progress in operating metrics across all our revenue channels . Our cash balance of $ 23.7 million at June 30 , 2021 , together with the approximately $ 18.8 million raised in our subsequent public offering and lower operating burn , puts the company in an excellent position to execute on its plan through 2022. " Second Quarter 2021 Financial Results For the quarter ended June 30 , 2021 , electroCore reported net sales of $ 1,300,000 compared to $ 1,200,000 in the first quarter of 2021 and $ 753,000 during same period of 2020. This represents a quarterly revenue increase of 5 % sequentially and 69 % over the same period last year . Revenue from the Department of Veterans Affairs ( " VA " ) and Department of Defense ( " DOD " ) increased 15 % sequentially to $ 779,000 in the second quarter of 2021 from $ 679,000 in the first quarter of 2021 and increased 88 % as compared to $ 415,000 in the second quarter of 2020. 85 VA and DoD military treatment facilities have purchased gammaCore products through June 30 , 2021 as compared to 79 through the first quarter of 2021 and 67 through the second quarter of 2020 .