Nexalin Technology, Inc. has experienced modest revenue growth driven by legacy Gen-1 device sales and recurring electrode revenues, despite halting new U.S. sales following the FDA's 2019 reclassification. The company is pivoting toward its proprietary 15 mA waveform devices, Gen-2 SYNC and Gen-3 HALO, currently in FDA Q-submission and clinical trial stages, signaling a significant technological evolution aimed at deeper brain stimulation without discomfort. Financially, Nexalin continues to operate at substantial net losses with constrained cash resources, requiring further capital to support ongoing R&D and commercialization efforts. The firm’s competitive edge rests on patented waveform technology combined with RFID-enabled consumables and an emerging virtual clinic platform designed for telepsychiatry integration.