On March 25, 2026, Picard Medical, Inc. (NYSE American: PMI) announced its financial results for the fiscal year ended December 31, 2025, showcasing a significant revenue growth of 12.5% compared to the previous year. The company reported total revenue of $4.9 million, driven primarily by product sales of $4.7 million, which constituted 96% of total revenue. This growth reflects the continued adoption of the SynCardia Total Artificial Heart, the first total artificial heart approved by both the U.S. FDA and Health Canada. Despite the revenue increase, the company reported a net loss of $27 million, which is an increase from the $21.1 million loss in 2024. The gross margin was reported at -4.1%, indicating ongoing challenges in operational efficiency. However, the company highlighted a strengthened balance sheet following successful capital raises, with cash and cash equivalents totaling $11.5 million at year-end, up from just $0.1 million in 2024. CEO Patrick NJ Schnegelsberg emphasized the transformative nature of the year, noting the public listing and capital restructuring as pivotal moments for the company. Looking ahead, Picard Medical plans to continue investing in commercialization and product development, indicating a positive outlook for future growth.

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