Picard Medical (PMI) Income Statement

Picard Medical reported revenue of $4.94M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 12.5% from $4.39M a year earlier. Picard Medical posted a net loss of $27.00M, compared with a net loss of $21.05M a year earlier. Gross margin was -4.1% and operating margin -268.4%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $2.95M, up 38.6% from the same quarter a year earlier.

Picard Medical Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Picard Medical, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Revenue & Gross Profit
Revenue	4.94	4.39	5.04	4.11
Cost of Revenue	5.14	4.50	7.35	9.10
Gross Profit	-0.20	-0.11	-2.31	-4.99
Operating Expenses
Research & Development	3.05	3.38	2.21	1.90
Selling, General & Administrative	10.00	10.22	10.98	4.18
Operating Expenses	13.05	13.60	13.19	6.08
Operating Income	-13.26	-13.71	-15.50	-11.07
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.01
Interest Expense	5.39	3.07	-0.14	0.01
Other Income/Expense	-6.02	-7.36	-0.07	-0.09
Income
Income Before Tax	-26.97	-21.07	-15.57	-11.16
Income Tax Expense	0.04	-0.02	0.00	0.01
Net Income	-27.00	-21.06	-18.00	-11.17
Net Income - Continuous Operations	-27.00	-21.06	-15.57	-11.17
Net Income - Discontinued Operations	-	-	-	-
EBITDA	-21.06	-17.46	-14.92	-10.61
EBIT	-21.57	-18.00	-15.50	-11.07
Depreciation & Amortization	0.51	0.54	0.59	0.55
Earnings Per Share
Basic EPS	-37.00	-16.00	-113.00	-9.00
Diluted EPS	-37.00	-16.00	-2.00	-9.00
Basic Shares Outstanding	0.72	1.44	0.16	1.44
Diluted Shares Outstanding	0.72	1.44	0.16	1.44

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Picard Medical Financial Statements

What was Picard Medical's revenue in fiscal 2025?

Picard Medical reported revenue of $4.94M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 12.5% from $4.39M a year earlier.

Is Picard Medical profitable?

No. Picard Medical reported a net loss of $27.00M in fiscal 2025. In fiscal 2024 it lost $21.05M.

What is Picard Medical's operating margin?

Picard Medical's operating income was −$13.26M on revenue of $4.94M in fiscal 2025, an operating margin of -268.4%, compared with -312.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition