Aclarion

ACON

Medical - Healthcare Information Services · Healthcare

Price

$2.29

-0.06 (-2.55%)

Market Cap

$1.2M

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Share count rising — dilution

+1072165.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 49.618 (2021) → 532K (2025)

Aclarion is a small healthcare technology company that makes software to help doctors diagnose and treat chronic back pain. Its main product uses a technology called Nociscan, which analyzes MRI data to identify which spinal discs are causing a patient's pain — something that has traditionally been very hard to pinpoint. The company sells its tools to spine surgeons and pain specialists in the United States.

Aclarion makes money by charging healthcare providers to use its software platform, essentially a fee-per-use or licensing model. The company is very small, with a market cap near zero and deeply negative profit margins, meaning it spends far more than it earns right now. Its main competitive edge is its proprietary data analysis method, but the biggest risk it faces is running out of cash before it can sign enough hospital and clinic customers to reach a sustainable level of revenue.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+30.5% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+59.3% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$1.0T/ year

↑ Rising (+116317112% vs prior year)

>1,000% of revenue

75838798.7x the sector average (18%)

Investing heavily in future products and technology

Insider Activity

0.0%ownership

Relatively low insider ownership

Cash Runway

~18 months

$16M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Strong grower

Aclarion is growing revenue at 30% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

32.9%

Modest — 32.9% gross margin

Operating Margin

-11503.2%

Losing money on operations — -11503.2%

ROCE

-17.1%

Weak — -17.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+33.1%

Fast-growing sales (+33.1% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-9770.7%

Burning cash (-9770.7%)

Free cash flow is negative. They are burning cash, not generating it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial