Picard Medical, Inc.
3.2800-0.77 (-19%)
Oct 29, 4:00:00 PM EDT · NYSE American · PMI · USD
Key Stats
Market Cap
241.74MP/E (TTM)
-Basic EPS (TTM)
-0.42Dividend Yield
0%Recent Filings
8-K
8-K
Stockholders approve equity plan expansion
Picard Medical's stockholders approved an amendment to its 2021 Equity Incentive Plan on October 10, 2025, boosting the share reserve to 18 million from the prior limit and adding warrants as an award type while ratifying the plan. With 46.4 million votes in favor against 7.7 million abstentions, this move equips the company to better attract and retain talent amid growth pressures. Yet dilution risks loom for existing holders.
10-Q
Q2 FY2025 results
Picard Medical's Q2 FY2025 results showed revenue jumping 207% year-over-year to $2.1M from products, driven by a $1.4M U.S. sales surge, though six-month totals edged up just 3% to $2.7M amid softer international demand. Gross margins flipped negative at -6% for the quarter (derived), pressured by 63% higher product costs, while operating losses narrowed 8% to $3.5M on leaner R&D spending. Net loss widened to $6.7M, or $0.85 per diluted share on 8.8M shares, versus $4.1M last year, with the gap tied to $2.4M interest and $0.8M derivative hits from convertible notes. Cash climbed to $410K, bolstered by $5.1M in financing including $1.5M stock issuance, but free cash flow stayed negative at $4.8M used in operations minus negligible capex. Post-quarter, the September IPO netted $11.2M to fuel growth. Yet customer concentration risks persist, with top buyers claiming 39% of sales.
8-K
IPO over-allotment fully exercised
Picard Medical closed the full exercise of its IPO over-allotment option on September 9, 2025, issuing 637,500 additional shares at $4.00 each for $2,550,000 in gross proceeds. This boosts total IPO shares to 4,887,500 and gross proceeds to $19,550,000, before expenses, strengthening the company's position as parent of SynCardia, developer of the FDA-approved total artificial heart. Underwriters led by WestPark Capital finalized the option exercised on September 5. Forward-looking statements highlight risks in the registration.
8-K
Picard Medical IPO closes
Picard Medical closed its IPO on September 2, 2025, selling 4,250,000 shares at $4.00 each for $17 million in gross proceeds, with shares trading on NYSE American under PMI since August 29. The capital will fuel a China joint venture, R&D for the driverless Emperor heart and portable drivers, sales expansion, debt repayment, and operations. Underwriters hold a 30-day option for 637,500 more shares. Yet risks loom from market uncertainties.
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