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NEUROPACE Investor Presentation August 2026
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2 Disclaimer This presentation may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will” and variations of these words or similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these words. NeuroPace may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Forward-looking statements in this presentation include, but are not limited to, statements regarding: Expectations regarding the Company’s future revenue and growth based on a continued operations basis, excluding revenue from the DIXI Medical product operations; NeuroPace’s expectations, forecasts and beliefs with respect to potential indication expansion for its RNS System, including the FDA's ongoing review of the NAUTILUS PMA-S to obtain IGE indication approval, and its software, technology and other product development efforts; increasing access to and adoption of RNS therapy as the standard of care in drug-resistant epilepsy; NeuroPace’s continued execution on its long-term revenue growth strategy, including with respect to sustained revenue growth and long-term value creation. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including: actual operating results may differ significantly from any guidance provided; uncertainties related to market acceptance and adoption of NeuroPace’s RNS System and impacts to NeuroPace’s revenue for 2026 and in the future; risks that NeuroPace’s operating expenses could be higher than anticipated and that it could use its cash resources sooner than expected; risks that NeuroPace’s gross margin may be lower than forecast; risks related to the pricing of the RNS System and availability of adequate reimbursement for the procedures to implant the RNS System and for clinicians to provide ongoing care for patients treated with the RNS System; risks related to regulatory compliance and expectations for regulatory approvals to expand the market for NeuroPace’s RNS System, including risks related to the NAUTILUS submission and the forthcoming Submission Issue Request (SIR) Q-Sub process; risks related to product development, including risks related to the development of AI-powered software, including NeuroPace AI and the next generation device platform; risks related to NeuroPace’s reliance on contractors and other third parties, including single-source suppliers and vendors; and other important factors. These and other risks and uncertainties include those described more fully in the section titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in NeuroPace’s public filings with the U.S. Securities and Exchange Commission (SEC), including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, filed with the SEC on August 11, 2026, as well as any other reports that it may file with the SEC in the future. Forward-looking statements contained in this announcement are based on information available to NeuroPace as of the date hereof. NeuroPace undertakes no obligation to update such information except as required under applicable law. These forward-looking statements should not be relied upon as representing NeuroPace’s views as of any date subsequent to the date of this presentation and should not be relied upon as a prediction of future events. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of NeuroPace. Discontinued Operations & Basis of Presentation: Following the expiration of the Company’s distribution agreement with DIXI Medical and the related wind-down, the Company concluded in the second quarter of 2026 that the abandonment of its DIXI Medical product operations met the criteria for presentation as a discontinued operation under ASC 205-20. Unless otherwise noted, the results discussed in this release reflect continuing operations; prior-period amounts have been reclassified accordingly, with no effect on previously reported net loss, total assets, total liabilities, or total stockholders’ equity. See the accompanying financial statements for the GAAP presentation of continuing and discontinued operations. Non-GAAP Measure: To supplement NeuroPace’s condensed financial statements presented in accordance with GAAP , the Company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include Adjusted EBITDA, adjusted gross margin, and adjusted operating expenses. NeuroPace believes the presentation of its non-GAAP financial measures enhances the user’s overall understanding of the Company’s historical financial performance. The presentation of the Company’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the Company’s financial results prepared in accordance with GAAP , and the Company’s non-GAAP measures may be different from non-GAAP measures used by other companies.
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3 NEUROPACE MISSION Transform the lives of people suffering from epilepsy by reducing or eliminating the occurrence of debilitating seizures.
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4 Joel Becker Chief Executive Officer Martha Morrell, MD Chief Medical Officer Patrick Williams Chief Financial Officer Management Team Previous Experience Chris Reese SVP, Sales
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5 NeuroPace Investment Highlights Strong Fundamentals and Positioned for Growth First closed loop, brain- responsive neuromodulation system $100M 2025 Revenue +25% growth • Best-in-class, differentiated outcomes that continue to improve over time • Exclusive iEEG dataset enables AI and therapy personalization • Large, underpenetrated TAM with clear growth drivers in both existing and new channels • Platform with software + hardware pipeline expansion • Management team with execution track record 8k+ Patients received RNS System³ $3.5B+ Annual target market opportunity¹,² 20%+ LRP growth 1 NAEC Center Annual Report, 2025 ; 2Market size based on ~$50,000 ASP for RNS Systems initial implants ³ Internal data on cumulative implants to date through YE 2025
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6 Q2 2026 in Review RNS Revenue $22.5M +21% YoY growth Adjusted¹ Gross Margin 83.4% (65) bps YoY Adjusted¹ Operating Expenses $21.9M +3% growth YoY2 RNS active prescribers increased to new record highs Progress on development of NeuroPace AI suite of tools utilizing proprietary data Received FDA feedback and clarified regulatory path forward for IGE PMA supplement ¹Adjusted expenses exclude stock-based compensation; A reconciliation of GAAP to Non-GAAP is available on slide 29-31 2 Includes one-time personnel related expenses in the prior period related to executive transition
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7 2026 Outlook FY26 guidance Revenue of $99.5 million to $101.5 million RNS Revenue 21%-23% growth Non-GAAP Gross margin 82.0%-83.0%¹ NeuroPace well-positioned to grow core RNS business 20%+ with current indications and potential for expanded access in new indications • Drive continued 20%+ RNS growth through prescriber expansion, higher utilization, and commercial execution • Advance our leadership position in personalized, data driven neuromodulation as AI and iEEG data converge • Deepen community penetration to broaden access to RNS therapy • Invest and prepare for potential indication expansion • Continue disciplined operating performance, strengthening the path to cash flow breakeven Key themes & objectives Non-GAAP Operating Expense $90M-92M¹ ¹Adjusted metrics excludes stock-based compensation. A reconciliation of GAAP to Non-GAAP is available on slides 29-31 Adjusted EBITDA ($7.5)M-($8.5)M¹
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8 1Chen, Z., et al., JAMA Neurology, 2017. 2U.S. Center for Disease Control, August 10, 2017. 3Jehi L, Jette N, Kwon C-S, Josephson CB, Burneo JG, Cendes F, Timing of referral to evaluate for epilepsy surgery: Expert Consensus Recommendations from the Surgical Therapies Commission of the International League Against Epilepsy. Epilepsia. 2022;00:1–16 U.S. Prevalence: 1/3 of Epilepsy Patients are Drug Refractory1 Drug-resistant epilepsy (DRE) defined as a patient failing to achieve sustained seizure freedom after trying two antiseizure medications3 DIAGNOSIS & FIRST LINE TREATMENT 3.4M People in the U.S.2 1.2M People in the U.S.1 Patients diagnosed with epilepsy Try multiple anti-epilepsy drugs ~1 in 3 have drug-resistant epilepsy (DRE) DRE patients who may not appear to be appropriate candidates for epilepsy surgery should still be referred to a tertiary epilepsy center to evaluate potential other interventions3
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9 Responsive Neuromodulation Tailored to Each Patient Monitors brain activity continuously Recognizes & Responds with tailored stimulation in real-time Records ongoing iEEG data for review, insights and therapy optimization Detection and stimulation adjusted using patient-specific data leading to greater seizure reduction over time Patient remote monitor Physician programmer Implantable neurostimulator Targeted stimulation
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10 RNS® System Flexibility Enables Diverse Treatment Approaches Expanded Therapy Utilization: Strategies for Focal, Drug-Resistant Epilepsy Bilateral & suspected bilateral MTL Dominant unilateral MTL Eloquent cortex Deep structures Regional neocortical stimulation Corticothalamic stimulation NETWORK STIMULATION For regional onsets TARGETED STIMULATION For discrete onsets THERAPY COMBINATIONS To augment surgery Large focal networks Multifocal onsets
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11 Impressive Seizure Reductions Improve Over Time 1Morrell, M, et al. Neurology, 2011. 2Nair, D, et al., Neurology, 2020 and Heck et al., Epilepsia , 2014 . 3Szaflarski, JP, et al., Presented at American Epilepsy Society, 2019 44% 53% 58% 62% 63% 67% 72% 73% 75% 67% 75% 82% Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Median % Reduction in Seizures Original FDA Study Results: • Statistically greater seizure reduction than sham therapy at 5 months1,2 • 75% median seizure reduction at 9 years1,2 • 28% of patients achieved > 6 months of seizure freedom1,2,3 FDA Post Approval Study Results: • 62% median seizure reduction at 1 year* • 69% median seizure reduction @ 2 years* • 82% median seizure reduction at 3+ years* 62% 69% 82% Improvements shown in: Cognitive Function | Quality of Life | Mental Health | SUDEP *Results published in Neurology in April 2026 Improved data- driven strategies provide a more robust initial response Post-approval study: largest real-world evidence base in epilepsy neuromodulation
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12 The RNS System delivers greater seizure reduction than other neuromodulation therapies1- 3 82% Median seizure reduction at 3 years (n=255) Note: Therapies were studied using different study designs. Caution must be exercised when comparing results. 1. RNS System Post-approval Study Oral Presentation, American Academy of Neurology, April 2025. All outcomes are ITT, median seizure reduction is observed case data, seizure freedom at last follow-up is LOCF. 2. Morris et al, Neurology, 1999 3. Kaufmann et al., Epilepsia, 2024 82% 44% 40% RNS Post-Approval Study (n=255) VNS Study Group E01-E05 (n=93) DBS MORE Registry (n=101) 3 Year Median Seizure Reduction (%) RNS Post-Approval Study (n=255)1 VNS Study Group E01-E05 (n=93)2 DBS MORE Registry (n=101)3 RNS personalized therapy results in favorable outcomes versus other therapies
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NAUTILUS Trial: Meaningful Seizure Reduction at 18 Months 77% Median Reduction in GTCs at 18 Months n=40 (p<0.001) Physician Reported Improvement Over Time Clinical Global Impression of Change 1. Responsive Stimulation of the Thalamus for Idiopathic Generalized Epilepsy: Results of the randomized controlled NAUTILUS trial through 18 months, AAN Oral Abstract, Apr 2026 2. Pre-specified additional effectiveness endpoint compared to baseline; pre-specified primary effectiveness not significant The NAUTILUS Study is the first and only neuromodulation RCT to demonstrate a statistically significant reduction in GTCs for IGE patients1,2 50% 63% 70% 76% 75% 90% 86% 46% 36% 26% 20% 16% 7% 13% 0% 20% 40% 60% 80% 100% 2 Months n=76 3 Months n=78 6 Months n=77 9 Months n=76 12 Months n=73 15 Months n=71 18 Months n=69 Improvement No Change or Not Asssessed Worsened For educational purposes only. CAUTION: Investigational device. • 30% reduction in injury events • 44% lower use of rescue meds compared to baseline
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14 Only RNS® System Delivers Truly Personalized Neuromodulation RNS System Vagus Nerve Stimulation (VNS) Deep Brain Stimulation (DBS) Surgical Resection/Ablation Closed-loop, responsive therapy n/a Personalized programming for targeted therapy Continuous iEEG data capture Flexible lead placement Therapy-related side effect profile 20% of patients are candidates¹ 1Schiltz, et al., Temporal trends in pre-surgical evaluations and epilepsy surgery in the U.S. from 1998 to 2009, Epilepsy Research, Volume 103, Issues 2–3,2013,Pages 270-278; Dugan, et al., Derivation and initial validation of a surgical grading scale for the preliminary evaluation of adult patients with drug‐resistant focal epilepsy. Epilepsia, (2017) 58: 792-800.
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15 The Power of RNS Data Today • Unmatched Dataset: 27M+ iEEG recordings, 35,000 patient implant years • RNS enables real-time monitoring, recording, and tailored therapy for drug-resistant epilepsy patients • Only NeuroPace collects and leverages iEEG data at scale • Current Impact: Drives best-in-class efficacy • Physicians optimize programming via patient-specific data, helping to continuously improve outcomes over time • Foundation for future AI-based therapy optimization • Near-term NeuroPace AITM suite of tools: ECoG Assistant automates detection, reducing clinician workload • Future: leverages proprietary dataset to automate detection calibration and guide individualized programming • Market Advantage: Supports CARE program and community adoption by simplifying data review • Positions RNS as standard of care in Level 4 and Level 3 centers
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16 Building a Proprietary AI Ecosystem • Unique & Proprietary: largest epilepsy iEEG dataset growing daily • Unlike commoditized AI/ML/LLMs, proprietary data creates defensive moat • Every new patient adds to the data advantage; our lead compounds over time • Long-term vision: Network effect AI ecosystem for personalized therapy • AI to recommend treatment settings and parameters (Adaptive RNS) • Continuous learning from expanding dataset improves outcomes and attracts more patients • Strategic Value: therapy advantage compounds • Potential for monetization opportunities over time (e.g., biomarker discovery, new indication research, etc) thus increasing addressable market • Data-driven scalability supports profitable growth More Patients More iEEG Data Smarter AIgorithms More personalized therapy Better outcomes
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17 A large market opportunity with substantial runway for growth AdultFocal Epilepsy Pediatric Focal Epilepsy Generalized Epilepsy T otal ~575K1,2,6,7, $27Bn5 ~480K1,3,6,7, $23Bn5 ~1.2MM1, $55Bn+ 5 ~145K1,4,6,7, $7Bn5 Total Pediatric Focal Epilepsy Generalized Epilepsy Adult Focal Epilepsy • PAS • Network Stimulation • DTC • Community access *Significant programs are underway to expand access to and develop RNS within each of these segments RNS Addressable Markets (Drug-resistant patients, $ market size) • NAUTILUS • LGS • DTC • Community access • NEST/PERC • DTC • Community access NeuroPace growth initiatives 1 Chen, Z., et al., JAMA Neurology, 2017: 1.2 million patients with DRE in the US; 2 1.2 million patients x 60% with focal epilepsy x 80% age 18 or older = ~575,000 adult patients with focal DRE in the US; 2 ~575,000 adult patients with DRE in the US x ~$50,000 ASP for RNS System initial implants = $29 Bn; 3 1.2 million patients x 40% with generalized epilepsy = ~480,000 patients with generalized DRE in the US; 4 1.2 million patients with DRE in the US x 60% with focal epilepsy x 20% below age 18 = ~145,000 pediatric patients with focal DRE in the US; 5 Market size is based on ~$50,000 ASP for RNS system implants; 6 Kobau, et al., 2023, Active epilepsy prevalence among U.S. adults is 1.1% and differs by educational level – National Health Interview Survey, United States, 2021, Epilepsy and Behavior; 7 Zack, M. & Kobau, R, National and State Estimates of the Numbers of Adults and Children with Active Epilepsy – United States, CDC MMWR; August 11, 2017; Vol. 66, No. 31.
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18 Addressing a large, underpenetrated opportunity >$3.5B addressable market today with potential to increase as more patients are moved through specialist care5 • 60% Focal: 45K patients core opportunity ($2B+) • 40% Generalized: 30K patients core opportunity ($1.5B) Massively underpenetrated versus opportunity (~15k patients treated beyond drugs) 1.2M people living with DRE in the U.S. 16.5M global DRE patients Current Target Market 75K DRE patients admitted annually to CECs² Diagnosed U.S. TAM Global Opportunity Opportunity to expand outside the US over time to address substantial global need in drug-resistant epilepsy 1Chen, Z., et al., JAMA Neurology, 2017. 2NAEC Center Annual Report, 2025 3Ostendorf, et al, Epilepsia, 2022 4Jehi L, Jette N, Kwon C-S, Josephson CB, Burneo JG, Cendes F, Timing of referral to evaluate for epilepsy surgery: Expert Consensus Recommendations from the Surgical Therapies Commission of the International League Against Epilepsy. Epilepsia. 2022;00:1–16.; 5 Market size based on ~$50,000 ASP for RNS System initial implants Current indication: adult focal (60%, 575k patients) Growth initiatives focused on market development and clinical (indication) expansion unlocks remainder of a large U.S. market
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19 Multiple Growth Initiatives Underway to Address This Opportunity Product Development • Annual AI SW Releases • Remote Programming • Next Generation Platform Clinical Development • PAS – Adult Focal • NAUTILUS – IGE • Pediatric Focal • LGS Market Development • Incremental Sales Force Expansion • Community access • Expanded Direct to Patient Marketing • Increased Professional Education Market Clinical Product
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20 Closing the Treatment Gap to Drive Long-Term Growth Expand the number of prescribers Direct-to-patient digital marketing Referral marketing to epileptologists Community outreach and patient education Earlier patient education to increase pull through Broaden patient selection Broaden RNS adoption through CECs Indication and Market expansion: Generalized and Community Awareness & Demand Generation Grow the Market Take Share within CECs Commercial Execution Product Clinical Market
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21 Market Expansion: Community Access Community Expansion – Making the RNS System Accessible outside of Level 4 CECs • Efforts underway to expand to additional 1,800 epileptologists and all functional neurosurgeons practicing outside of Level 4 CECs • New referral marketing materials • Digital marketing to referring physicians • Aim to expand professional education Expanding RNS System Access to Patients Outside of Level 4 CECs Facilitating Referrals of Appropriate Patients to Level 4 CECs Bringing the RNS System into the Community Product Clinical Market
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22 Closing the Treatment Gap: Enhanced RNS Therapy Access Community Expansion: RNS System Access outside of Level 4 CECs / building referral pathways CECs: Focus on Adoption Across Clinicians and Expanding Therapy Utilization by current prescribers Patient Indication Expansion: RNS System Access for Generalized Epilepsy • 40% of DRE patients have generalized epilepsy • Potential to be first device in U.S. with generalized indication • Pursue real-world evidence approach to bring access to pediatric patients • Continue building on new patient implant growth • Network stimulation: potential growth driver • PAS: new clinical evidence • Aim to expand to additional 1,800 Epileptologists and all functional neurosurgeons within current indications • Expected expansion of RNS TAM • 2024: Pilot Activities / 2025: Program Expansion/ 2026: Acceleration Product Clinical Market
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23 Bringing the benefits of the RNS System to patients with Generalized Epilepsy NIH-funded feasibility study Enrollment and implants complete Interim Safety demonstrated Patient/Market CharacteristicsNeuroPace Programs Breakthrough Device Designation status 18-month median seizure reduction of 77%¹ published in Epilepsia Received FDA feedback requesting additional information and outline for path forward Devastating generalized epilepsy with frequent seizures and progressive cognitive decline Medically intractable, surgery not effective Often leads to intellectual disability, developmental delays and behavioral problems 40% of DRE patients have generalized epilepsy • ~480k DRE patients in the US Currently no approved neuromodulation therapies for IGE patients More often treated in Level 3 and community settings Shorter time from patient identification to implant Idiopathic Generalized Epilepsy (IGE) Lennox-Gastaut Syndrome (LGS) ¹Results presented at American Epilepsy Society Meeting on December 7, 2025 Product Clinical Market
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24 > 25 peer reviewed publications about RNS System use in pediatrics Use Real World Data to Expand RNS System Treatment to Pediatrics Advocacy Group Support • AES Pediatric Special Interest Group • Lennox-Gastaut Foundation • Epilepsy Foundation NeuroPace committed to expanding access to the pediatric patient population with focal DRE, representing 20% of patients (~145k) Product Clinical Market
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25 System proposes personalized settings based on seizure morphology and treatment history, for physician to review and finalize Improved efficiency means physicians can treat more patients with the RNS System Therapy settings sent and updated via remote programming A robust product pipeline with differentiated features Remote programming Next generation PDMS architecture Scalable for growth Platform enables cadence of data products and usability improvements AI-powered ECoG Assistant Simplifies review of iEEG data for physicians Brings precision, insight and efficiency AI-Powered ADAPT Remote programming Proposes detection settings using longitudinal iEEG and therapy history Simplifies programming and improves scalability, especially with remote care workflows Enables treatment updates without in-person visits Expands access and efficiency through telehealth- enabled care Scalable programming model supports broader utilization Product Clinical Market
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26 Next-generation Platform for Effectiveness, Efficiency, and Innovation Automated, overnight data transfer improves patient experience and expands adoption Next-gen hardware supports future innovation in detection and therapy Adds BLE; modernizes microprocessor, ASIC Maintains MRI conditional labeling No change to mechanical envelope or RNS System compatibility Renderings; features not available in the approved RNS System. Next generation platforms and features are anticipated and no t yet approved. Product Clinical Market
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27 ` Financial Performance ADJUSTED GROSS PROFIT MARGIN2 2Adjusted expenses exclude stock-based compensation; A reconciliation of GAAP to Non-GAAP is available on slide 29-31 1RNS results, excluding service revenue 83.6% 84.0% 82.8% 81.8% 82.5% 83.4% 80.5% 81.0% 81.5% 82.0% 82.5% 83.0% 83.5% 84.0% 84.5% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 RNS REVENUE1 (USD, MILLIONS) $18.2 $18.6 $22.6 $22.4 $21.7 $22.5 $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 +26.2% +16.4% +31.2% +26.4% +19.5% +21.3%
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28 Well-positioned for sustainable growth and value creation Only device with personalized therapy and real-time iEEG monitoring Clinically proven long-term seizure reduction and seizure freedom shown in robust clinical trials Market expansion opportunity into generalized epilepsy, pediatrics, and community channels Data advantage unlocks long-term software and product development Poised for continued value creation Mission: Transforming the lives of people suffering from epilepsy by reducing or eliminating the occurrence of debilitating seizures
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29 2025 Non-GAAP Reconciliations from Continuing Operations Non-GAAP Measure To supplement NeuroPace’s condensed financial statements presented in accordance with GAAP , the Company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include Adjusted EBITDA, adjusted gross margin, and adjusted operating expenses. NeuroPace believes the presentation of its non-GAAP financial measures enhances the user’s overall understanding of the Company’s historical financial performance. The presentation of the Company’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the Company’s financial results prepared in accordance with GAAP , and the Company’s non-GAAP measures may be different from non-GAAP measures used by other companies.
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30 2026 Non-GAAP Reconciliations from Continuing Operations Non-GAAP Measure To supplement NeuroPace’s condensed financial statements presented in accordance with GAAP , the Company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include Adjusted EBITDA, adjusted gross margin, and adjusted operating expenses. NeuroPace believes the presentation of its non-GAAP financial measures enhances the user’s overall understanding of the Company’s historical financial performance. The presentation of the Company’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the Company’s financial results prepared in accordance with GAAP , and the Company’s non-GAAP measures may be different from non-GAAP measures used by other companies.
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31 Guidance Reconciliation Non-GAAP Measure To supplement NeuroPace’s condensed financial statements presented in accordance with GAAP , the Company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include Adjusted EBITDA, adjusted gross margin, and adjusted operating expenses. NeuroPace believes the presentation of its non-GAAP financial measures enhances the user’s overall understanding of the Company’s historical financial performance. The presentation of the Company’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the Company’s financial results prepared in accordance with GAAP , and the Company’s non-GAAP measures may be different from non-GAAP measures used by other companies.