Operator

Good day, and welcome to the IAccess Alpha Virtual Best Ideas Summer Investment Conference 2026. Our next presenting company is electroCore Inc. [Operator Instructions] I'd now like to turn the floor over to today's host, Joshua Lev, Interim President and CFO at ElectroCore Inc. Please go ahead.

Joshua Lev
CFO & Interim President

Thank you, and thank you very much for participating in today's IAccess Alpha Virtual Investor Conference. A special thank you to [ Wiley Johnson ] for hosting us today. My name is Joshua Lev. I'm the Interim President and CFO of electroCore. We are listed on NASDAQ with the ticker E-C-O-R, ECOR.

We are a bioelectronic medicine and wellness company with our main focus in providing health and wellness products that are noninvasive products, utilizing bioelectronic technologies for different therapeutic areas and for health and wellness. Our products themselves are comprised of 2 different categories. One, our prescription-based products, the other our health and wellness products, which are sold direct-to-consumer.

Over the course of the last few years, we've been able to grow the revenue at a 5-year compounded annual growth rate of approximately 50%. And we've been able to do that while we have been increasing and expanding our gross profit margins from roughly 72% in 2019 to roughly 87% in the first quarter of 2026. Our sales model is variable in that we use a bifurcated sales organization that's comprised of both W-2 employees as well as 1099s or commission-only based sales executives, which allow us to go ahead and scale the business in a way where we can begin seeing operating leverage out of our P&L.