Nexalin Technology, Inc. $NXL

What the company doesAI summary of filing

Nexalin Technology develops neurostimulation medical devices to treat mental health conditions including anxiety, insomnia, depression, and other disorders. The company's Gen-1 device, a cranial electrotherapy stimulation device cleared by the FDA prior to 2019, generated revenue from monthly licensing fees and electrode sales, though new Gen-1 marketing has been paused following FDA reclassification. The company is currently in clinical development stage with its Gen-2 SYNC and Gen-3 HALO devices, which use a 15 milliamp waveform and are undergoing FDA pre-submission review; these devices are not yet revenue-generating in the United States but have received regulatory approval in China, Brazil, and Oman. Nexalin makes money from legacy Gen-1 device licensing and service fees, and plans to generate revenue from Gen-2 and Gen-3 devices once they receive FDA clearance, through a business model that includes virtual clinic telemedicine services, in-clinic treatment, and a joint venture operating in China. [10-K 2026-03-25]

Segments: Gen-1 device (legacy CES, 4 milliamp), Gen-2 SYNC (clinical device, 15 milliamp), Gen-3 HALO (patient headset, 15 milliamp), Virtual clinic platform