ClearPoint Neuro, Inc. (the “Company”) is a commercial-stage medical device company focused on the development and commercialization of innovative platforms for performing minimally invasive surgical procedures in the brain. The Company deployed significant resources to fund its efforts to develop the foundational capabilities for enabling MRI-guided interventions, building an intellectual property portfolio, and identifying and building out commercial applications for the technologies it develops. Over the past several years, the Company’s efforts expanded beyond the MRI suite to encompass development and commercialization of new neurosurgical device products for the operating room setting, as well as consulting services for pharmaceutical and biotech companies, academic institutions, and contract research organizations. The Company was incorporated in the state of Delaware in March 1998, and has headquarters located in Solana Beach, California.

The Company’s initial product offering, the ClearPoint system, is an integrated system comprised of capital equipment and disposable products, designed to allow minimally invasive procedures in the brain to be performed in an MRI suite. The SmartFrame Array Neuro Navigation System and Software, introduced in 2021, allows for operating room placement and completion of the procedure in the MRI suite. Both systems provide guidance for the placement and operation of instruments or devices during the planning and operation of neurosurgical procedures. The Company received 510(k) clearance from the U.S. Food and Drug Administration (“FDA”) in 2010 to market the ClearPoint system in the United States for general neurosurgical interventional procedures; in February 2011, the Company also obtained CE marking for its ClearPoint system. In 2011 and 2018, the Company received 510(k) clearance and CE marking, respectively, for its SmartFlow Neuro cannula which is being used, or is under evaluation, along with the Company's services, by more than 60 pharmaceutical and biotech companies, academic institutions, or contract research organizations having a focus on biologics and drug delivery. The Company provides consulting services to pharmaceutical and other medical technology customers for improving outcome predictability and optimizing preclinical and clinical workflows. The Company's expertise is concentrated in benchtop testing, preclinical studies, clinical trial support, regulatory consultation, and over-arching translation from the preclinical to the clinical setting to enhance accuracy and precision of drug delivery. In September 2022, the ClearPoint Prism Neuro Laser Therapy System, for which the Company has exclusive global commercialization rights, received 510(k) clearance through the Company’s Swedish partner, Clinical Laserthermia Systems AB ("CLS").

In 2025, through the acquisition of IRRAS, the Company expanded its portfolio into neurocritical care. IRRAS is a commercial-stage medical technology company focused on treatments for intracerebral hemorrhage, intraventricular hemorrhage, and other conditions requiring intracranial fluid management.

The Company has several foreign wholly owned subsidiaries, primarily established for the purpose of employing the Company’s software team in Canada and clinical services representatives serving the Company’s customers in the United Kingdom and the EU. The activities of all subsidiaries are reflected in these condensed consolidated financial statements.

Macroeconomic Trends

The Company continues to monitor the impacts of various macroeconomic trends, such as inflationary pressure, changes in monetary policy, constraints on hospital capital spending, the introduction of or changes in tariffs or trade barriers, and global or local recession and geopolitical instability. Such changes in domestic and global macroeconomic conditions may lead to increased costs for the Company's business. Additionally, these macroeconomic trends could adversely affect the Company’s customers, which could impact their willingness to spend on the Company’s products and services, or their ability to make payments, which could harm the collection of accounts receivable and financial results. In particular, a portion of the Company's revenue is derived from

products and services supporting pharmaceutical and biotechnology partners' preclinical and clinical development programs, and constraints in the funding environment for these partners, whether due to capital markets conditions or changes in government research funding, could cause partners to delay, scale back or discontinue programs utilizing the Company's products and services. The world’s financial markets remain susceptible to significant stresses, resulting in reductions in available credit and government spending, economic downturn or stagnation, foreign currency fluctuations and volatility in the valuations of securities generally. As a result, the Company’s ability to access capital markets and other funding sources may not be available in the future on commercially reasonable terms, if at all. The Company cannot predict with certainty the ultimate impact of these trends on its business, financial condition, results of operations or cash flows, which will depend on future developments. To date, these trends have not had a material adverse impact on the Company's business, financial condition or results of operations.

Liquidity

The Company has incurred net losses since its inception, which has resulted in a cumulative deficit at September 30, 2026 of $245.3 million. In addition, the Company’s use of cash from operations amounted to $20.1 million for the nine months ended September 30, 2026, and $23.9 million for the year ended December 31, 2025. Since its inception, the Company has financed its operations principally from the sale of equity securities and the issuance of notes payable.

In May 2025, the Company received net proceeds of approximately $3.3 million, after deducting offering expenses payable by the Company, from a registered direct offering. See Note 10 below for additional information.

Also in May 2025, the Company entered into a note purchase agreement (the “2025 NPA”) under which it may sell tranches of notes (the “Notes”) in an aggregate principal amount of up to $105.0 million. As of September 30, 2026, the Company had received net proceeds of approximately $48.1 million from the sale of two Notes thereunder. Interest on the Notes is payable 50% in cash and 50% in kind during each Note’s paid-in-kind (“PIK”) period. The last scheduled PIK payment on the First Purchase Note occurred in September 2026, and the last scheduled PIK payment on the Third Tranche Note (each as defined in Note 8 below) will occur in March 2027. The Company may extend each PIK period by up to two quarters by notifying the purchaser agent no later than one business day before the applicable interest payment date. After each PIK period ends, interest on that Note will be payable entirely in cash, which will increase the Company’s cash used to service interest obligations. In addition, beginning with the first fiscal quarter of 2027, the Company will make quarterly revenue participation payments based on Net Revenue (as defined in the 2025 NPA). See Note 8 below for additional information regarding the 2025 NPA and the Notes.

In November 2024, the Company established an at-the-market ("ATM") equity offering program under which the Company may offer and sell, from time to time, shares of its common stock having aggregate sales proceeds of up to $50.0 million. During the three and nine months ended September 30, 2026, 1,530,000 shares were sold under the ATM equity offering program for net proceeds of $22.0 million, after deducting issuance costs of $0.5 million. As of September 30, 2026, $27.5 million remained unsold and available for sale under the ATM equity offering program. See Note 10 below for additional information.

As required by accounting principles generally accepted in the United States (“GAAP”), the Company has evaluated its ability to continue as a going concern for at least the next twelve months from the date of issuance of these financial statements. The Company has determined that based on its current forecasts, its existing cash and cash equivalent balances at September 30, 2026 are sufficient to support the Company’s operations and meet its obligations for at least the next twelve months from the date of issuance of these financial statements.