Picard Medical Inc
picardmedical.comWhat Do They Do?
Manufactures and sells total artificial heart implants and external pneumatic drivers to hospitals and transplant centers treating patients with advanced heart failure.
10-K for FY2025, filed Mar 30, 2026PMI functions as a holding company and owns 100% of the membership interests of SynCardia. Business operations are carried out by and…View ↗
The currently approved SynCardia TAH System consists of an implant including left and right artificial ventricles, external pneumatic…View ↗
We generate revenue from the sale of our total artificial heart for patients, rental of Freedom drivers, and from training and…View ↗
How Do They Make Money?
Hospitals buy SynCardia TAH kits, billed when shipped and typically collected within 30 days. Customers rent Freedom Drivers by the month; training and certification are billed after the service.
10-K for FY2025, filed Mar 30, 2026The Company recognizes revenue when performance obligations identified under the terms of contracts with its customers are satisfied, which…View ↗
Rental revenues primarily consist of rental fees charged to customers who rent the Company’s driver. Rental revenue is earned over the…View ↗
Professional services revenues primarily consist of training and certification services. The Company’s professional services revenue is…View ↗
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10-K for FY2025, filed Mar 30, 2026
FY2025 revenue by product or service ↗
$4.9M
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10-K for FY2025, filed Mar 30, 2026
$4.9M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product
Sold outright
10-K for FY2025, filed Mar 30, 2026 |
96% |
Product, FY2025
$4.7M Sources
|
Sold outright |
|
Rentals
Recurring
|
3.9% |
Rentals, FY2025
$194K Sources
|
Recurring |
Who Are Their Customers?
Transplant centers and hospitals buy the system. PMI's own sales staff markets and sells in the United States, while specialized distributors do so in Europe and other international markets.
10-K for FY2025, filed Mar 30, 2026
Do Revenues Turn Into Profits?
No. It lost $27M in FY2025.
10-K for FY2025, filed Mar 30, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 19, 2026
−$5.7MView ↗
- ▼ −16% (Loss)
- vs −$6.7M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 19, 2026
Open tableView ↗
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Jul 27, 2026
NYSE American accepted the plan to regain listing compliance
The plan allows the company to continue its listing, subject to milestones and quarterly review.
Sources
8-K, filed Jul 27, 2026
On July 22, 2026, Picard Medical, Inc. (the "Company") received a letter from the NYSE American LLC ("NYSE American") stating that the NYSE…View ↗
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Jun 24, 2026
The CEO stepped down and the chairman became interim CEO
Sources
8-K, filed Jun 24, 2026
On June 17, 2026, Patrick NJ Schnegelsberg notified Picard Medical, Inc. (the "Company") of his decision to step down as Chief Executive…View ↗
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Jun 2, 2026
The chief financial officer was terminated
Sources
8-K, filed Jun 2, 2026
Also as of June 1, 2026, Bernard Skaggs was terminated as the Chief Financial Officer of Picard Medical, Inc. (the “Company”), effective…View ↗
Who Do They Compete With?
Competes with Carmat, BiVACOR, Abbott, Abiomed, and Getinge
10-K for FY2025, filed Mar 30, 2026The SynCardia TAH is currently the only total artificial heart approved for commercial use in the United States and Canada. CARMAT SA…View ↗
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