PMI · CIK 0002030617
Picard Medical, Inc.
Annual figures as reported, FY2023–FY2025. Ratios and growth rates derived on-page.
Surgical & Medical Instruments & Apparatus
Company profile
Revenue
$4.9M
▲ +12.5% vs FY2024
Net income
−$27.0M
▼ −28.2% vs FY2024
Operating cash flow
−$15.7M
▼ −32.0% vs FY2024
Diluted EPS
−$0.75
▲ +74.9% vs FY2024
Revenue
Annual, as reported
Net income
Losses shown in terracotta
Recent quarters
momentum · last 12 quartersRevenue — Mar ’26 quarter
$1.1M
▲ +85.5% vs Mar ’25
Net income — Mar ’26 quarter
−$7.6M
▼ −37.0% vs Mar ’25
Revenue — trailing 12 months
$5.5M
Quarterly revenue
Discrete quarters; Q4 derived from the annual figure
Quarterly net income
Losses shown in terracotta
| Quarter | Revenue | Rev. YoY | Gross margin | Net income | Net margin | Diluted EPS |
|---|---|---|---|---|---|---|
| Mar ’26 | $1.1M | 85.5% | 23.9% | −$7.6M | −662.3% | −$0.10 |
| Dec ’25 | $1.0M | — | 41.0% | −$4.3M | −428.2% | — |
| Sep ’25 | $1.2M | 34.7% | −11.0% | −$10.4M | −878.3% | −$0.19 |
| Jun ’25 | $2.1M | 207.1% | −6.0% | −$6.7M | −315.5% | — |
| Mar ’25 | $620K | — | −57.7% | −$5.6M | −896.9% | −$0.80 |
| Sep ’24 | $881K | — | −76.4% | −$6.2M | −704.4% | −$0.87 |
| Jun ’24 | $694K | — | −55.0% | −$4.1M | −584.6% | — |
Profitability & returns
quality of earningsMargins
Share of revenue kept at each line
Gross marginOperating marginNet margin
Returns on capital
Net income vs year-end equity and assets
Cash flow
cash generationOperating cash flow
Net cash from operations
Shareholder returns
capital allocationDiluted shares outstanding
Falling count means buybacks outpace dilution
Balance sheet
financial positionStockholders’ equity
At fiscal year end
Key ratios
derived per fiscal year| Fiscal year | Gross margin | Op. margin | Net margin | ROE | ROA | Current ratio |
|---|---|---|---|---|---|---|
| FY2025 | −4.1% | −268.4% | −546.6% | −712.6% | −119.8% | 1.11× |
| FY2024 | −2.6% | −312.3% | −479.5% | — | −173.9% | 0.28× |
| FY2023 | — | — | — | — | — | — |
Annual figures
as reported| Fiscal year | Revenue | Gross profit | Op. income | Net income | Diluted EPS | Op. cash flow | Capex | Total assets | Liabilities | Equity | Cash | LT debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY2025 | $4.9M | −$204K | −$13.3M | −$27.0M | −$0.75 | −$15.7M | — | $22.5M | $18.8M | $3.8M | $7.5M | — |
| FY2024 | $4.4M | −$112K | −$13.7M | −$21.1M | −$2.99 | −$11.9M | — | $12.1M | $35.8M | −$44.0M | $96K | — |
| FY2023 | — | — | — | — | — | — | — | — | — | −$23.8M | — | — |
Latest filings
the most recent regulatory filings425SEC filing2026-07-02 ↗8-KCurrent report — material event2026-07-02 ↗425SEC filing2026-07-02 ↗8-KCurrent report — material event2026-07-02 ↗8-KCurrent report — material event2026-06-29 ↗DEF 14AProxy statement2026-06-29 ↗8-KCurrent report — material event2026-06-24 ↗PRE 14ASEC filing2026-06-15 ↗SCHEDULE 13G/ASEC filing2026-06-05 ↗144Notice of proposed insider sale2026-06-03 ↗
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