PMI
Picard Medical, Inc.2.3000
-0.1300-5.35%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
169.51MP/E (TTM)
-Basic EPS (TTM)
-0.44Dividend Yield
0%Recent Filings
10-K
FY2025 results
Picard Medical's FY2025 ended December 31, 2025, reflects ongoing development losses with $40.6M federal NOL carryforwards and full valuation allowance on $14.6M deferred tax assets. No revenue, operating, or net income figures disclosed in the 10-K; Q4 metrics unavailable. IPO delivered $15.2M net proceeds in September, funding R&D for Emperor TAH targeting 2028 FDA. December's $15M senior secured note bolsters liquidity amid related-party debt repayments, yet going concern warning persists. Auditors flag material weaknesses in controls. Single-source suppliers threaten production.
8-K
2025 revenue up 12.5%
Picard Medical held its first annual business update on March 25, 2026, disclosing 2025 revenue up 12.5% to $4.94M, driven by 33.5% U.S. growth comprising 88% of total. Cash burn hit $15.67M after raising $35.55M via IPO, yet normalized to $11.04M. U.S. adoption accelerates. Emperor heart advances to 2026 animal studies.
8-K
Revenue up 12.5%, loss widens
Picard Medical reported 2025 revenue of $4.9 million, up 12.5% from 2024, driven by SynCardia Total Artificial Heart adoption. Yet gross margins slipped to -4.1% and net loss widened to $27.0 million amid public listing and $27.1 million financing boost, lifting cash to $11.5 million. Balance sheet strengthened. Additional capital needed.
8-K
ACC.26 Emperor Heart Debut
Picard Medical will showcase early preclinical data on its fully implantable Emperor Total Artificial Heart at the American College of Cardiology's Annual Scientific Session in New Orleans, March 28-30, 2026. SynCardia presents a poster on March 29 and exhibits at booth #2554, highlighting the autoregulating design that builds on its FDA-approved SynCardia heart. It's preclinical. Forward-looking statements note risks.
8-K
SynCardia bridges patient 119 days
Picard Medical highlighted a successful case at UCSF Health where the SynCardia Total Artificial Heart sustained a patient in his twenties for 119 days—from November 15, 2025, to March 14, 2026—before a heart transplant. This marks UCSF's second such bridge out of five patients, underscoring the device's role in advanced biventricular failure. Centers adopt it amid donor shortages. Forward-looking statements note risks.
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