PMI Picard Medical, Inc.
Price Chart
Executive Summary
Picard Medical issued a shareholder letter highlighting 85% Q1 revenue growth to $1.2M, positive gross margin of 24% (vs -58% a year ago), and debt reduction of $7.4M. However, the company remains unprofitable with a going-concern qualification, faces a June 7 NYSE American compliance plan deadline for stockholders' equity, and has a market cap of only $14M. The letter is promotional and forward-looking, with no concrete catalyst or financial guidance.
Key Financial Metrics
Actionable Insight
The June 7 NYSE American compliance plan deadline is the nearest catalyst — failure to submit or gain acceptance could trigger delisting. The pending FDA decision on the PMA supplement for expanded indications is a binary event that could materially expand the addressable patient population. Monitor both events closely; the stock has historically been highly volatile with a 14% win rate at T+20.
Key Facts
- Q1 2026 revenue grew 85% YoY to $1.2M; gross margin improved to 24% from -58%
- Company repaid $7.4M of senior secured debt in cash and settled $2.1M via equity in Q1
- Raised $5.0M in gross proceeds from a public offering post-Q1; entered warrant exchange eliminating ratchet provisions
- Received NYSE American notices regarding stockholders' equity; compliance plan due June 7, 2026
- Auditors included a going-concern qualification in 2025 financial statements
- First-in-animal trials for Emperor TAH began Nov 2025; second-generation animal testing completed; regulatory approval sought as early as 2028
- Pending FDA decision on premarket approval supplement to expand indications to bridge-to-candidacy patients
- Market cap is $14M; historical performance shows 14% win rate at T+20 on prior reports
Financial Impact
Q1 revenue $1.2M (85% YoY growth); gross margin 24%; $5.0M raised post-Q1; $7.4M debt repaid; cash position not stated for Q1 2026
Risk Factors
- Going-concern qualification and potential inability to achieve profitability
- NYSE American delisting risk if compliance plan not accepted by June 7 deadline
- Regulatory uncertainty for Emperor TAH and PMA supplement approval timelines
- Low market cap ($14M) and high historical volatility; prior reports show 14% win rate at T+20
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3303498 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 2, 2026
3d ago
|
Press Release
| $0.2700 $0.3080 | ▲ +14.07% | ▲ +14.77% | $0.2582 (−4.37%) |
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Jun 2, 2026
3d ago
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8-K
| $0.2700 $0.3080 | ▼ −14.07% | ▼ −14.77% | $0.2582 (+4.37%) |
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Jun 1, 2026
4d ago
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EFFECT
| — | awaiting T+1 | — | — |
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May 29, 2026
7d ago
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8-K
| — | awaiting T+1 | — | — |
|
May 29, 2026
7d ago
|
Press Release
| $0.1480 $0.1684 | ▲ +13.78% | ▲ +13.51% | $0.2582 (+74.46%) |
|
May 21, 2026
15d ago
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Press Release
| $0.1410 $0.1510 | ▼ −7.09% | ▼ −6.65% | $0.2582 (−83.12%) |
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May 20, 2026
16d ago
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S-1
| — | awaiting T+1 | — | — |
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May 6, 2026
4w ago
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424B4
| $0.2320 $0.2210 | ▲ +4.74% | ▲ +4.41% | $0.2582 (−11.29%) |
|
May 5, 2026
4w ago
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8-K
| $0.2100 $0.2320 | ▼ −10.48% | ▼ −9.09% | $0.2582 (−22.95%) |
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Apr 22, 2026
6w ago
|
8-K
| $0.9070 $0.8430 | ▼ −7.06% | ▼ −6.66% | $0.2582 (−71.53%) |
US Market Status
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