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Picard Medical, Inc.
(PMI)
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Rating:43Neutral
Price Target:
$9.00
▼(-0.99% Downside)
Action:Reiterated
Date:08/26/26
The score is primarily held back by weak financial performance—large ongoing losses and significant cash burn—despite improving revenue and gross margin and a cleaner balance sheet. Technicals remain fragile versus longer-term trends, and valuation support is limited due to negative earnings and no stated dividend yield. Corporate events add some support via NYSE compliance progress and operational updates, but they do not offset the core profitability and cash-flow risks.
Positive Factors
Improving Revenue and Gross Margin
Stronger sales and materially better gross margin indicate improving product economics and commercial traction. If sustained, this progress could provide operating leverage and support a longer-term path toward profitability, although scale remains limited.
Negative Factors
Severe Operating Losses
The company’s cost base remains far above its current revenue scale, so improved gross margin has not yet translated into sustainable earnings. Continued losses could consume capital, constrain investment, and delay the path to self-funded growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Revenue and Gross Margin
Stronger sales and materially better gross margin indicate improving product economics and commercial traction. If sustained, this progress could provide operating leverage and support a longer-term path toward profitability, although scale remains limited.
Read all positive factors
Picard Medical, Inc. (PMI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$22.92M
Dividend YieldN/A
Average Volume (3M)24.26M
Price to Earnings (P/E)―
Beta (1Y)-1.99
Revenue Growth41.00%
EPS Growth0.82%
CountryUS
Employees75
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)-20.46
Shares Outstanding2,338,634
10 Day Avg. Volume60,852,368
30 Day Avg. Volume24,263,915
Financial Highlights & Ratios
PEG Ratio-0.39
Price to Book (P/B)34.04
Price to Sales (P/S)26.11
P/FCF Ratio-8.23
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Picard Medical, Inc. Business Overview & Revenue Model
Company Description
Picard Medical, Inc., through its associated companies, is dedicated to the entire process of medical device commercialization, from initial design and manufacturing to production, distribution, marketing, and sales. A key product in its portfolio...
Picard Medical, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
44
Neutral
Cash Flow
16
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.30M | 4.94M | 4.39M | 5.04M | 4.11M |
| Gross Profit | 1.58M | 200.00K | -112.00K | -2.31M | -4.99M |
| EBITDA | -24.05M | -26.49M | -17.46M | -14.85M | -10.61M |
| Net Income | -27.99M | -27.00M | -21.05M | -15.57M | -11.17M |
Balance Sheet | |||||
| Total Assets | 9.17M | 22.55M | 12.11M | 11.37M | 15.44M |
| Cash, Cash Equivalents and Short-Term Investments | 38.00K | 7.45M | 96.00K | 244.00K | 152.00K |
| Total Debt | 878.00K | 6.97M | 20.93M | 9.41M | 1.96M |
| Total Liabilities | 7.45M | 18.76M | 35.84M | 14.93M | 4.07M |
| Stockholders Equity | 1.72M | 3.79M | -23.74M | -3.55M | 11.37M |
Cash Flow | |||||
| Free Cash Flow | -16.07M | -15.67M | -11.87M | -10.64M | -10.75M |
| Operating Cash Flow | -16.04M | -15.67M | -11.87M | -10.63M | -10.72M |
| Investing Cash Flow | -26.00K | 0.00 | 0.00 | -9.00K | -37.00K |
| Financing Cash Flow | 15.69M | 27.08M | 11.74M | 10.84M | 5.52M |
Picard Medical, Inc. Risk Analysis
Picard Medical, Inc. disclosed 56 risk factors in its most recent earnings report. Picard Medical, Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
Picard Medical, Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
44 Neutral | $11.66M | -0.80 | -358.44% | ― | -0.71% | 58.20% | |
43 Neutral | $22.92M | -0.44 | 499.20% | ― | 41.00% | 0.82% | |
43 Neutral | $1.62M | -0.19 | -137.73% | ― | ― | 87.54% | |
43 Neutral | $3.97M | -0.03 | -196.44% | ― | 219.17% | 90.58% | |
40 Underperform | $6.20M | -0.12 | -239.36% | ― | ― | 64.78% |
* General Sector Average
PMI
Picard Medical, Inc.
9.09
-220.41
-96.04%
AEMD
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2.17
-91.33
-97.68%
VTAK
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0.20
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-91.92%
HSCS
Heart Test Laboratories, Inc.
3.12
-0.29
-8.50%
AMIX
Autonomix Medical, Inc.
5.63
-17.89
-76.06%
Picard Medical, Inc. Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Picard Medical Issues Investor Presentation Under Regulation FD
Neutral
Aug 20, 2026
On August 19, 2026, Picard Medical, Inc. published an investor presentation intended for use in its investor relations efforts and other corporate communications. The material was explicitly designated as furnished rather than filed under U.S. sec...
Business Operations and StrategyDelistings and Listing ChangesRegulatory Filings and Compliance
Picard Medical’s NYSE compliance plan supports growth
Positive
Jul 27, 2026
On July 22, 2026, Picard Medical, Inc. received notice that NYSE American accepted its compliance plan to regain adherence to the exchange’s continued listing standards after reporting low stockholders’ equity, a stockholders’ de...
Business Operations and StrategyDelistings and Listing ChangesRegulatory Filings and ComplianceShareholder MeetingsStock Split
Picard Medical announces 1-for-50 reverse stock split
Neutral
Jul 22, 2026
On July 21, 2026, Picard Medical, Inc. filed an amendment to its charter in Delaware to implement a 1-for-50 reverse stock split of its common shares, effective at 5:00 p.m. Eastern Time on July 31, 2026. Every 50 issued and outstanding shares wil...
Business Operations and StrategyExecutive/Board ChangesShareholder MeetingsStock Split
Picard Medical shareholders approve governance and capital changes
Neutral
Jul 21, 2026
At its Annual Meeting of Stockholders held on July 17, 2026, Picard Medical, Inc. shareholders approved all proposals on the agenda, including the election of four directors to serve until the 2027 annual meeting and an advisory vote endorsing exe...
Business Operations and StrategyFinancial DisclosuresShareholder MeetingsStock Split
Picard Medical Reports Strong Q1 Growth and Strategy
Positive
Jul 2, 2026
At its pre-recorded business update tied to the 2026 Annual Meeting of Stockholders, scheduled for July 17, 2026, Picard Medical reported first-quarter performance showing 85% year-over-year revenue growth, a 28% improvement in gross margin and a ...
Executive/Board Changes
Picard Medical Names Richard Fang Interim Chief Executive
Neutral
Jun 24, 2026
On June 24, 2026, Picard Medical, Inc., parent of total artificial heart maker SynCardia Systems, announced a leadership change following the June 18, 2026 departure of Chief Executive Officer Patrick NJ Schnegelsberg, who also left the board. The...
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
Picard Medical Highlights Strong Q1 Growth Amid Compliance Plan
Positive
May 29, 2026
On May 29, 2026, Picard Medical released a shareholder letter highlighting a transformational 2025 and strong early 2026 performance, with 2025 revenue up 12.5% to $4.9 million and a strengthened balance sheet following an IPO and debt conversions...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.