Picard Medical Reports Second Quarter 2025 Financial Results

Core Viewpoint - Picard Medical, Inc. reported significant financial growth driven by strong sales of its SynCardia total artificial heart, achieving over 200% revenue growth year-over-year and successfully completing an IPO that raised $19.5 million to support future developments [2][3][7]. Financial Performance - Second Quarter 2025 Results: Revenue increased by 207% to $2.13 million from $0.69 million in Q2 2024, primarily due to higher U.S. product sales. Gross loss improved by 67% to $0.13 million, while operating loss decreased by 8% to $3.52 million. Net loss was $6.72 million, up from $4.06 million in the prior year, influenced by higher non-cash debt discount and derivative losses [3][5]. - Year-to-Date 2025 Results: For the first half of 2025, revenue rose by 3% to $2.74 million compared to $2.67 million in the same period of 2024. Gross loss was $0.49 million, contrasting with a gross profit of $0.43 million in the first half of 2024. Operating loss widened by 19% to $6.77 million, and net loss increased to $12.29 million from $6.01 million in the prior year, again due to higher non-cash debt discount and derivative losses [4][5]. Company Outlook - Following the successful IPO, the company anticipates funding operations into 2026 and aims to enhance the adoption of its total artificial heart while advancing its next-generation fully implantable heart platform, the Emperor [6]. Company Overview - Picard Medical, Inc. is the parent company of SynCardia Systems, LLC, which is recognized for its SynCardia Total Artificial Heart, the only commercially available total artificial heart technology in the U.S. and Canada, with over 2,100 implants performed globally [7][8].