Picard Medical reports 39% revenue increase in Q2 2026

Picard Medical, the parent company of SynCardia Systems, reported its second-quarter 2026 financial results, showing a 39% increase in revenue to approximately $3.0 million compared to $2.1 million in the same period last year. This growth was primarily driven by increased sales in the United States.

The company achieved a gross profit of approximately $0.6 million for the quarter, a significant improvement from a gross loss of $0.1 million in the prior-year period. This resulted in a gross margin of roughly 20.9%. The net loss for the quarter decreased by 16% to approximately $5.7 million.

For the first six months of 2026, revenue rose 50% to approximately $4.1 million. However, the year-to-date net loss widened to approximately $13.3 million, attributed to higher research and development and administrative expenses.

On the operational side, the company is advancing preclinical work on its next-generation Emperor Total Artificial Heart platform. Additionally, a 1-for-50 reverse stock split became effective on July 31, 2026, as part of a compliance plan accepted by the NYSE American.