Ceribell makes a point-of-care electroencephalography (EEG) system for hospital ICUs and emergency departments. EEG is the only definitive way to diagnose a seizure, but conventional EEG systems are slow, require specialized technicians, and are often unavailable outside business hours — leaving patients waiting hours or days for diagnosis. Ceribell's system consists of a disposable single-use wearable headband (and a headcap for neonates), a pocket-sized wireless recorder, and Clarity, a proprietary AI algorithm that continuously monitors brain activity and alerts clinicians to seizure activity in real time without requiring a neurologist on-site. Any trained clinician can apply the device in about 5 minutes. Ceribell sells exclusively in the U.S. through a direct sales force and has been adopted by over 600 hospitals. Revenue comes from two streams: sales of disposable wearables (roughly 75% of revenue), which are consumed per patient on an ongoing basis, and monthly subscription fees for access to Clarity, the recorders, and a cloud portal (roughly 25% of revenue). Subscription revenue carries a 97% gross margin, and overall gross margins run in the high-80% range. Ceribell grows by adding new hospital accounts and increasing utilization within existing accounts by expanding to new departments and embedding the system into clinical protocols. The company received FDA clearance in December 2025 for delirium detection — the first FDA-cleared device for that indication — and plans a commercial pilot in 2026, using the same hardware and targeting the same clinical call points as its seizure business.