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Picard Medical Reports Second Quarter 2026 Financial Results SynCardia SAVING LIVES , ONE HEART AT A TIME PICARD MEDICAL , INC Download PDF August 19 , 2026 17:30 ET -Revenue Increases 39 % and Net Loss Decreases 16 % - Year - to - Date Revenue Increases 50 % , with ~ $ 0.9 Million in Gross Profit TUCSON , Ariz . , Aug. 19 , 2026 ( GLOBE NEWSWIRE ) - Picard Medical , Inc. ( NYSE American : PMI ) ( " Picard Medical " or the " Company " ) , parent company of SynCardia Systems , LLC ( " SynCardia " ) , maker of the world's first and only total artificial heart approved by both the U.S. FDA and Health Canada , today reported financial results for the second quarter ended June 30 , 2026 . " We are encouraged by the progress reflected in our second - quarter results , " said Richard Fang , Interim Chief Executive Officer of Picard Medical . " Revenue growth and the improvement in gross profitability reflect progress in our core business . We are also advancing the development of our next - generation Emperor Total Artificial Heart platform and continuing to strengthen our operations . We are focused on continuing that progress , working to strengthen the Company's financial position and investing thoughtfully in opportunities that can support long - term growth . " Three Months Ended June 30 , 2026 Financial Highlights Revenue increased 39 % to ~ $ 3.0 million , compared with ~ $ 2.1 million for the three months ended June 30 , 2025. The increase was driven by an increase in U.S. sales of ~ $ 0.8 million . • Gross profit was ~ $ 0.6 million , compared with a gross loss of ~ $ 0.1 million in the prior - year period , representing a gross margin of ~ 20.9 % compared with a gross margin of ~ ( 6.0 ) % in the prior - year period . • Net loss decreased 16 % to ~ $ 5.7 million , compared with a net loss of ~ $ 6.7 million in the prior - year period . Six Months Ended June 30 , 2026 Financial Highlights • Revenue increased 50 % to - $ 4.1 million , compared with ~ $ 2.7 million for the six months ended June 30 , 2025. The increase was primarily driven by higher U.S. product sales , partially offset by lower European sales . • Gross profit was ~ $ 0.9 million , compared with a gross loss of - $ 0.5 million in the prior - year period , representing a gross margin of ~ 21.7 % compared with a gross margin of ~ ( 17.7 ) % in the prior - year period . • Net loss was ~ $ 13.3 million , compared with a net loss of ~ $ 12.3 million in the prior - year period . The increase primarily reflects higher research and development and selling , general and administrative expenses , partially offset by lower total other expenses .