Picard Medical, Inc.
| Metric | FY2025 | FY2024 |
|---|---|---|
| Cash and cash equivalents | $7.5M+7661.5% | $96K |
| Restricted cash | $4.0M | $0 |
| Inventories, net | $7.3M-10.0% | $8.1M |
| Prepaid expenses and other current assets | $1.2M+27.2% | $955K |
| Total current assets | $20.7M+111.7% | $9.8M |
| Property and equipment, net | $183K-19.4% | $227K |
| Finance lease right-of-use assets, net | $152K-14.1% | $177K |
| Operating lease right-of-use assets, net | $363K-48.1% | $700K |
| Intangible assets, net | $509K-14.6% | $596K |
| Goodwill | $615K+0.0% | $615K |
| Total assets | $22.5M+86.3% | $12.1M |
| Accounts payable | $2.1M-60.7% | $5.3M |
| Current portion of finance lease liability | $77K+22.2% | $63K |
| Current portion of operating lease liability | $386K+4.0% | $371K |
| Convertible notes payable, net | $0-100.0% | $14.8M |
| Senior secured note | $5.4M | $0 |
| Accrued interest | $6K-99.2% | $761K |
| Other accrued liabilities | $1.9M-11.7% | $2.1M |
| Total current liabilities | $18.7M-47.1% | $35.3M |
| Finance lease liability, net of current portion | $30K-68.8% | $96K |
| Operating lease liability, net of current portion | $34K-91.9% | $421K |
| Total liabilities | $18.8M-47.7% | $35.8M |
| Preferred stock, $0.0001 par value; 30,000,000 shares authorized; 0 and 18,406,857 Series A-1 issued and outstanding as of December 31, 2025 and 2024, respectively; liquidation value $0 and $25,405 as of December 31, 2025 and 2024, respectively | $0-100.0% | $20.3M |
| Common stock, $0.0001 par value; 150,000,000 shares authorized; 73,701,176 and 9,286,235 shares issued as of December 31, 2025 and 2024, respectively, of which 73,701,176 and 7,943,585 are outstanding as of December 31, 2025 and 2024, respectively | $7K+600.0% | $1K |
| Additional paid-in capital | $80.4M+1345.7% | $5.6M |
| Accumulated other comprehensive income | $228K-18.0% | $278K |
| Accumulated deficit | -$76.8M-54.2% | -$49.8M |
| Stockholders’ equity (deficit) | $3.8M+108.6% | -$44.0M |
| Total liabilities, temporary equity and stockholders’ equity (deficit) | $22.5M+86.3% | $12.1M |
| Embedded Derivative Financial Instruments [Member] | ||
| Derivative liability | $7.8M+16.0% | $6.8M |
| Warrant Liability [Member] | ||
| Nonrelated Party [Member] | ||
| Accounts receivable | $134K+19.6% | $112K |
| Related Party [Member] | ||
| Loans from related parties | $1.0M-80.6% | $5.1M |
Source: SEC EDGAR XBRL. % change vs prior period shown where available.
Picard Medical reports Q1 2026 revenue growth of 85% to $1.2M with return to positive gross profit of $0.3M, executes significant debt reduction
“We improved gross margin performance, reduced outstanding debt obligations, strengthened our capital structure, and continued advancing development of the Emperor Total Artificial Heart”
No Form 4 transactions on record.
Informational purposes only, not investment advice.