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Perimeter Medical Imaging AI
(PINK)
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Rating:49Neutral
Price Target:
C$0.18
▼(-38.28% Downside)
Action:Reiterated
Date:10/31/26
Overall score is held back primarily by weak financial performance (large losses, substantial ongoing cash burn, and increased leverage) and bearish technical conditions (price below all key moving averages with negative MACD). The earnings call provides a meaningful offset due to improving cost discipline, sequential revenue growth, and key regulatory/commercial milestones, but execution risk remains high given the small revenue base and limited cash runway.
Positive Factors
Regulatory approval and commercial deployments
FDA PMA approval removes a major regulatory barrier for the AI-enabled B-Series and supports broader commercialization. The two installed systems performing procedures provide early evidence of customer adoption, while the first commercial hospital deployment can help establish a repeatable pathway for future placements.
Negative Factors
Persistent losses and cash burn
The company continues to consume substantial cash because revenue is not yet sufficient to cover its operating structure. Persistent losses and negative free cash flow increase reliance on external funding, constrain strategic flexibility, and make execution of the commercial ramp more important to maintaining financial stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory approval and commercial deployments
FDA PMA approval removes a major regulatory barrier for the AI-enabled B-Series and supports broader commercialization. The two installed systems performing procedures provide early evidence of customer adoption, while the first commercial hospital deployment can help establish a repeatable pathway for future placements.
Read all positive factors
Perimeter Medical Imaging AI (PINK) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$27.62M
Dividend YieldN/A
Average Volume (3M)91.50K
Price to Earnings (P/E)―
Beta (1Y)0.46
Revenue Growth35.27%
EPS Growth58.34%
CountryCA
Employees36
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.09
Shares Outstanding153,434,620
10 Day Avg. Volume97,117
30 Day Avg. Volume91,498
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)7.00
Price to Sales (P/S)12.31
P/FCF Ratio-3.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.07
Revenue Forecast (FY)C$4.83M
Perimeter Medical Imaging AI Business Overview & Revenue Model
Company Description
Perimeter Medical Imaging AI, Inc. is a medical technology firm focused on developing and marketing advanced imaging solutions. These innovations empower surgeons, radiologists, and pathologists to meticulously examine microscopic tissue structure...
How the Company Makes Money
Perimeter Medical Imaging AI’s revenue model is primarily tied to commercialization of its intraoperative imaging platform and related recurring components. The company makes money (or aims to make money as it scales) through: (1) System sales or ...
Perimeter Medical Imaging AI Earnings Call Summary
Earnings Call Date:Aug 20, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call presented a largely positive commercial and operational inflection: meaningful sequential recurring revenue growth (+31% QoQ), significant cost reductions (OpEx down 28%), improvement in net loss (down 33%), reduced operating cash burn (down 23%), FDA PMA approval for the B-Series, two initial commercial B-Series placements now performing procedures, and a CMS filing in process. Counterbalancing this are the small absolute revenue base, ongoing losses and limited cash balance (~$6.4M), early-stage commercial scale (only two B-Series in the field), and timing uncertainty driven by evolving hospital AI/IT review processes and fluid pipeline visibility. Overall, the highlights outweigh the lowlights given the regulatory milestone, initial commercial traction and improving financial trends, but execution and cash management remain critical near-term risks.Positive Updates
Sequential Revenue Growth and Recurring Revenue
Recorded revenue of approximately $503k for Q2 2026, comprised fully of recurring revenue (S-Series consumables, system leases, preventative maintenance and ESP warranty programs). This represents ~31% sequential growth over Q1 2026.
Negative Updates
Small Absolute Revenue Base and Early Commercial Scale
Despite strong sequential growth, absolute revenue remains modest (~$503k for the quarter) and commercial adoption of the B-Series is at an early stage with only two B-Series placements to date and a total installed base of ~22 sites (S- and B-Series combined).
Read all updates
Q2-2026 Updates
Positive
Negative
Sequential Revenue Growth and Recurring Revenue
Recorded revenue of approximately $503k for Q2 2026, comprised fully of recurring revenue (S-Series consumables, system leases, preventative maintenance and ESP warranty programs). This represents ~31% sequential growth over Q1 2026.
Read all positive updates
Company Guidance
Management's guidance emphasized a continued commercial ramp balanced with tight cost control: preliminary Q2 revenue was ~$503K (31% sequential growth), operating expenses were $3.1M (down 28% YoY from $4.3M), net loss $2.6M (‑33% YoY; $0.02/share), six‑month operating cash use $5.1M (down 23% YoY) and cash of $6.4M at 6/30/26; they noted FDA PMA approval in April, two B‑Series placements (conversions from S‑Series) with commercial procedures underway, 22 total installed sites, a CMS HCPCS filing submitted in June, plans for modest OpEx increases focused on sales & marketing with new hires expected to drive revenue late‑2026/early‑2027, a ~12‑month runway from the recent raise, and the expectation that 2027 revenue will be materially higher than 2026 (management remains broadly aligned with prior 2–3× revenue growth assumptions for 2026, timing dependent on hospital AI review processes).Perimeter Medical Imaging AI Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
45
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.33M | 2.34M | 846.19K | 403.53K | 132.77K | 11.34K |
| Gross Profit | 713.97K | 1.03M | 535.11K | 206.42K | 100.63K | 5.04K |
| EBITDA | -9.51M | -12.32M | -12.64M | -18.13M | -11.96M | -16.06M |
| Net Income | -10.14M | -13.14M | -13.39M | -14.04M | -9.91M | -16.76M |
Balance Sheet | ||||||
| Total Assets | 10.51M | 6.72M | 14.33M | 20.54M | 34.60M | 9.98M |
| Cash, Cash Equivalents and Short-Term Investments | 6.43M | 2.47M | 6.18M | 18.43M | 28.44M | 5.14M |
| Total Debt | 4.01M | 119.11K | 137.48K | 192.89K | 328.63K | 441.17K |
| Total Liabilities | 6.36M | 2.60M | 3.87M | 5.48M | 8.49M | 2.56M |
| Stockholders Equity | 4.15M | 4.12M | 10.45M | 15.06M | 26.11M | 7.42M |
Cash Flow | ||||||
| Free Cash Flow | -7.89M | -9.55M | -16.90M | -15.17M | -13.86M | -16.03M |
| Operating Cash Flow | -7.76M | -9.42M | -14.72M | -14.70M | -11.87M | -13.91M |
| Investing Cash Flow | -112.44K | -130.44K | -1.90M | 206.01K | -1.75M | -1.45M |
| Financing Cash Flow | 12.97M | 5.85M | 8.58M | 234.47K | 40.28M | 10.06M |
Perimeter Medical Imaging AI Technical Analysis
Negative
0.29
Price Trends
0.25
Negative
0.28
Negative
0.31
Negative
Market Momentum
-0.03
Positive
40.49
Neutral
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PINK, the sentiment is Negative. The current price of 0.29 is above the 20-day moving average (MA) of 0.20, above the 50-day MA of 0.25, and below the 200-day MA of 0.31, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 40.49 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:PINK.
Perimeter Medical Imaging AI 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% | |
49 Neutral | C$27.62M | -1.41 | -303.05% | ― | 35.27% | 58.34% | |
47 Neutral | C$8.98M | -5.34 | -34.32% | ― | -5.42% | -5.37% | |
46 Neutral | C$15.43M | -6.13 | 56.40% | ― | 89.06% | 37.62% | |
43 Neutral | C$55.89M | -12.68 | -130.04% | ― | -24.86% | 18.29% |
* General Sector Average
TSE:PINK
Perimeter Medical Imaging AI
0.18
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Perimeter Medical Imaging AI Corporate Events
Business Operations and StrategyProduct-Related Announcements
Perimeter Medical’s AI Imaging Device Claire Gains TIME Nod and Medtech Honors
Positive
Oct 30, 2026
Perimeter Medical Imaging AI has secured prominent recognition for its Claire imaging device, the first FDA-approved AI-enabled tool in the U.S. for real-time breast cancer margin assessment during surgery. The system combines advanced optical coh...
Business Operations and StrategyProduct-Related Announcements
Perimeter Medical Imaging AI to Present Commercial Strategy at Planet MicroCap Showcase
Positive
Oct 22, 2026
Perimeter Medical Imaging AI will present a strategic company update at the Planet MicroCap Showcase in Toronto, where CEO Adrian Mendes is scheduled to outline the firm’s current commercial strategy and upcoming milestones to an audience of...
Business Operations and StrategyExecutive/Board Changes
Perimeter Medical Imaging AI Adds Veteran CFO Michelle Caron to Board Amid Commercial Expansion
Positive
Oct 2, 2026
Perimeter Medical Imaging AI has appointed seasoned finance executive Michelle Caron, currently Chief Financial Officer of Nasdaq-listed A10 Networks, to its Board of Directors, strengthening the company’s governance and financial expertise....
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingProduct-Related Announcements
Perimeter narrows loss as Claire OCT launch gains traction
Positive
Aug 20, 2026
Perimeter reported preliminary second-quarter 2026 results marked by stable revenue of about $503,000, entirely from recurring streams tied to its S-Series OCT consumables, leases, maintenance, and warranties, with sequential growth of 31% versus ...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Perimeter Medical Imaging AI Sets Q2 Results Date and Completes Full C$7.52 Million Offering
Positive
Aug 13, 2026
Perimeter Medical Imaging AI said it will release its second-quarter 2026 financial and operating results after markets close on August 20, 2026, followed by a webcast and conference call with management to review performance and provide a broader...
Business Operations and StrategyProduct-Related Announcements
Perimeter’s AI-Powered Claire Imaging System Lands First Major U.S. Hospital Deployment
Positive
Aug 13, 2026
Perimeter Medical Imaging AI has secured a key commercial deployment for its Claire OCT System, the only FDA-approved, AI-enabled imaging device designed to assist margin assessment during breast-conserving surgery. The system, derived from Perime...
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.