Picard Medical Reports Reduced Losses in Q3
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 14 2025
0mins
Source: NASDAQ.COM
Financial Performance: Picard Medical, Inc. reported a narrowed loss per share of $0.19 in Q3, compared to $0.87 the previous year, while revenue increased to $1.19 million from $0.88 million.
EBIT and EBITDA Losses: The EBIT loss widened to $10.43 million from $6.21 million, but the EBITDA loss narrowed to $3.49 million from $4.44 million year-over-year.
Market Reaction: In pre-market trading, shares of Picard Medical fell by 3.69%, trading at $2.3500 on the New York Stock Exchange.
Disclaimer: The views expressed in the report are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
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About PMI
Picard Medical, Inc. is a holding company that owns a 100% interest in SynCardia Systems, LLC (SynCardia). SynCardia is a medical technology company that manufactures and sells the only United States Food and Drug Administration (FDA) and Health Canada-approved implantable total artificial heart (SynCardia TAH). The SynCardia TAH is a biventricular replacement device that consists of the SynCardia TAH implant, an external pneumatic driver that delivers precisely calibrated pulses of air to drive the implant, and drivelines that connect the driver to the implant. The SynCardia TAH implant is a system that consists of two independent artificial ventricles which are powered by an external pneumatic driver. Each artificial ventricle is made of a semi-rigid polyurethane housing and a rigid polyurethane base, with a four-layer flexible polyurethane diaphragm separating the blood chamber from the air chamber.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Picard Medical Partners with Hydrix to Develop Next-Gen Total Artificial Heart
- Collaboration Agreement: On January 5, 2026, Picard Medical entered into a development collaboration agreement with Hydrix to initiate the initial development phase for the next-generation fully implantable Total Artificial Heart, Emperor, aimed at enhancing patient mobility and convenience.
- Selection of Technical Expertise: SynCardia chose Hydrix as a partner based on its proven expertise in complex critical engineering and successful track record in developing regulated medical devices, reflecting Picard's commitment to high-value development programs.
- R&D Tax Incentives: This collaboration may allow Picard to benefit from approximately 43% Australian R&D tax incentives, further reducing development costs and accelerating technological advancements, thereby enhancing market competitiveness.
- Multi-Stage Development Plan: Under the agreement, Hydrix will perform development work for Picard and SynCardia through the end of 2026, with the program structured to advance through defined engineering verification and regulatory milestones, ensuring compliance with technical progress and safety validation.
Continue Reading
Picard Medical Partners with Hydrix to Develop Next-Gen Total Artificial Heart
- Collaboration Agreement: On January 5, 2026, Picard Medical entered into a development collaboration agreement with Hydrix to initiate the initial development phase for the next-generation fully implantable Total Artificial Heart, Emperor, aimed at enhancing patient mobility and convenience.
- Strategic Partner Selection: SynCardia chose Hydrix based on its proven expertise in complex critical engineering and a strong track record in developing regulated medical devices, reflecting Picard's commitment to high-value long-term development programs.
- Tax Incentive Potential: The collaboration may allow Picard to benefit from Australian R&D tax incentives of approximately 43% of eligible expenditure, providing additional financial support to foster technological advancements.
- Multi-Stage Development Plan: Under the agreement, Hydrix will conduct development work through the end of 2026, with the program structured to advance through defined engineering verification and regulatory milestones, ensuring compliance with safety validation and technical progress for long-term objectives.
Continue Reading