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Picard Medical, Inc.
(NYSE MKT:PMI)
Picard Medical, Inc. (PMI) vs. SPDR S&P 500 ETF (SPY)
Picard Medical, Inc. Business Overview & Revenue Model
Picard Medical, Inc. Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 4.77M | 4.39M | 5.04M | 4.11M |
| Gross Profit | -479.00K | -112.00K | -2.31M | -4.99M |
| EBITDA | -24.21M | -17.46M | -14.85M | -10.61M |
| Net Income | -32.34M | -21.05M | -15.57M | -11.17M |
Balance Sheet | ||||
| Total Assets | 13.52M | 12.11M | 11.37M | 15.44M |
| Cash, Cash Equivalents and Short-Term Investments | 2.81M | 96.00K | 244.00K | 152.00K |
| Total Debt | 752.00K | 20.93M | 9.41M | 1.96M |
| Total Liabilities | 5.55M | 35.84M | 14.93M | 4.07M |
| Stockholders Equity | 7.97M | -23.74M | -3.55M | 11.37M |
Cash Flow | ||||
| Free Cash Flow | -14.45M | -11.87M | -10.64M | -10.75M |
| Operating Cash Flow | -14.45M | -11.87M | -10.63M | -10.72M |
| Investing Cash Flow | 0.00 | 0.00 | -9.00K | -37.00K |
| Financing Cash Flow | 17.29M | 11.74M | 10.84M | 5.52M |
Picard Medical, Inc. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | $2.84M | -0.28 | -191.39% | ― | ― | 76.53% | |
43 Neutral | ― | -11.10 | 164.49% | ― | ― | ― | |
42 Neutral | $2.05M | -3.70 | -173.74% | ― | 82.96% | 82.04% | |
41 Neutral | $625.39K | -0.05 | -2268.26% | ― | -12.39% | 44.61% | |
40 Underperform | $8.12M | >-0.01 | -220.42% | ― | -41.03% | 35.71% | |
40 Underperform | $5.24M | -0.38 | -228.82% | ― | ― | 63.87% |
Picard Medical, Inc. Corporate Events
On March 17, 2026, Picard Medical announced that a 29-year-old patient successfully received a donor heart transplant on February 24, 2026, after being sustained entirely by the SynCardia Total Artificial Heart for more than four years. Implanted on September 2, 2021, the device replaced both ventricles and all four native valves and maintained circulation for 1,636 days, underscoring the system’s ability to support critically ill patients at home for extended periods.
The case highlights the role of total artificial heart therapy as a bridge to transplant for patients with irreversible biventricular heart failure who cannot be managed with left ventricular assist devices. By demonstrating very long-duration support in a single patient within a broader record of more than 2,100 implants worldwide, the outcome reinforces SynCardia’s clinical relevance, informs evolving practice in mechanical circulatory support and may strengthen the company’s positioning in the advanced heart failure treatment market.
The most recent analyst rating on (PMI) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Picard Medical, Inc. stock, see the PMI Stock Forecast page.
On March 10, 2026, Picard Medical, Inc. stockholders met virtually to vote on key capital structure proposals, with about 57.16% of the 73,701,176 outstanding common shares represented. Investors approved an amendment to increase authorized capital stock from 180,000,000 to 330,000,000 shares, including a doubling of authorized common stock from 150,000,000 to 300,000,000.
Stockholders also approved issuing additional common shares exceeding 20% of the company’s outstanding stock under an existing securities purchase agreement with HT Investments MA LLC and High Trail Special Situations LLC. The approvals expand Picard Medical’s flexibility to raise equity capital, potentially supporting future financing, liquidity, and strategic initiatives, but also setting the stage for increased dilution for existing shareholders.
The most recent analyst rating on (PMI) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Picard Medical, Inc. stock, see the PMI Stock Forecast page.
On March 13, 2026, Picard Medical announced that its SynCardia Total Artificial Heart will be featured on BTV – Business Television, with a segment airing on FOX Business News on March 14, 2026 at 5:00 p.m. Eastern Time. The broadcast aims to showcase how the device replaces the pumping function of a failing heart for patients awaiting transplantation and underscores SynCardia’s role as a leader in total artificial heart technology.
The segment will also spotlight Picard Medical’s development of a next‑generation, fully implantable artificial heart platform intended to eliminate external pneumatic drivers and improve patient mobility and quality of life. By appearing on an investment‑focused program with broad distribution to retail and institutional investors, the company is seeking to raise awareness of advanced heart failure therapies and increase visibility of its current and future artificial heart solutions among key stakeholders.
The most recent analyst rating on (PMI) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Picard Medical, Inc. stock, see the PMI Stock Forecast page.
On March 12, 2026, Picard Medical, Inc. announced it would host a webcasted Annual Business Update on March 25, 2026, following the filing of its Form 10-K for the fiscal year ended December 31, 2025. The virtual event will review fiscal year and fourth quarter 2025 financial results and provide a business update covering operational progress, commercial activity, and strategic priorities.
The webcast will feature management presentations as well as insights from leading cardiothoracic surgeons on the SynCardia Total Artificial Heart and the evolving artificial heart landscape, along with a patient testimonial. The inclusion of clinical key opinion leaders and real-world patient experience underscores Picard Medical’s effort to reinforce SynCardia’s clinical relevance and market leadership as it advances its next-generation, fully implantable Emperor artificial heart platform.
The most recent analyst rating on (PMI) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Picard Medical, Inc. stock, see the PMI Stock Forecast page.
On March 2, 2026, Picard Medical announced that Vice President of Clinical Affairs Dr. Andre Simon would deliver three presentations at the Technology and Heart Failure Therapeutics 2026 conference in Boston, running from March 2 to March 4. His talks cover new data on the current SynCardia Total Artificial Heart and early in vitro and in vivo results for the fully implantable next-generation Emperor system, as well as broader themes on the future of total artificial heart therapy.
The scientific and clinical outcomes data to be presented underscore that SynCardia Total Artificial Heart benefits extend beyond survival to include organ recovery, functional improvement, and preservation of transplant eligibility, particularly when implanted earlier in the disease course. By showcasing preclinical progress on the Emperor system and emphasizing quality of life and long-term independence, Picard seeks to reinforce its leadership in mechanical circulatory support and signal continued innovation that could influence treatment strategies for advanced heart failure and stakeholder expectations around durable artificial heart solutions.
The most recent analyst rating on (PMI) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Picard Medical, Inc. stock, see the PMI Stock Forecast page.
On February 26, 2026, Picard Medical announced that it and its SynCardia subsidiary will participate in the inaugural Hands-On Training Day at the Technology and Heart Failure Therapeutics 2026 conference in Boston on March 1, 2026. The company said the interactive, case-based program will showcase real-world use of the SynCardia Total Artificial Heart and related driver systems in managing advanced heart failure and cardiogenic shock.
The training day will gather leading clinicians and innovators to focus on mechanical circulatory support, hemodynamic monitoring, and complex patient management, with attendees rotating through small-group, interactive stations. Picard framed the event as an extension of its recent SynCardia Training Village in Houston and a key element of its commercial expansion strategy, aimed at deepening clinical partnerships, expanding global awareness, and improving patient outcomes through broader adoption of total artificial heart therapy.
The most recent analyst rating on (PMI) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Picard Medical, Inc. stock, see the PMI Stock Forecast page.
On January 13, 2026, Picard Medical launched the Cruxx to MedTech Podcast series in collaboration with advisory firm Cruxx, using patient survival narratives and executive commentary to spotlight the SynCardia Total Artificial Heart and its next-generation, fully implantable Emperor device. The series underscores the differentiated role of SynCardia’s platform as a potential alternative to heart transplantation amid a global shortage of donor hearts, aiming to raise awareness of the technology’s real-world impact and highlight the company’s commercial opportunity and strategic positioning in advanced cardiac care.
The most recent analyst rating on (PMI) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Picard Medical, Inc. stock, see the PMI Stock Forecast page.
On January 13, 2026, Picard Medical published a new investor presentation outlining SynCardia’s position as a market leader in total artificial heart technology and detailing the company’s mission to pioneer heart replacement as an alternative to transplantation amid a persistent shortage of donor hearts. The materials highlight SynCardia’s unique regulatory status, global clinical footprint and commercial strategy, while also providing an updated snapshot of Picard Medical’s market capitalization, share statistics and management structure, signaling an effort to sharpen investor communications and reinforce the company’s growth ambitions in the advanced cardiac device segment.
The most recent analyst rating on (PMI) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Picard Medical, Inc. stock, see the PMI Stock Forecast page.
On December 24, 2025, Picard Medical, Inc. announced it had entered into a securities purchase agreement with a single institutional investor for a private placement debt financing of up to $50 million in senior secured notes due December 26, 2028, along with warrants to purchase common stock, and closed an initial $15 million tranche of notes on December 26, 2025. The zero-coupon notes, secured by a first‑priority lien on substantially all company and certain subsidiary assets including key intellectual property, feature monthly amortization that can be paid in cash or stock, optional redemption at a premium, and the potential for an additional $35 million in subsequent notes, while the accompanying warrants cover more than 7 million shares with anti-dilution protections and potential forced exercise under specified trading conditions. The deal requires Picard to maintain a minimum $4 million cash balance, seek shareholder approval for warrant share issuances and a significant increase in authorized common stock, temporarily restrict new equity issuance, and file a resale registration statement for the underlying shares, while also granting the investor participation rights in future financings; net proceeds are earmarked for working capital and general corporate purposes, bolstering liquidity as the company advances its artificial heart franchise.
On December 18, 2025, Picard Medical, Inc. announced that its management team would ring the New York Stock Exchange opening bell that same day to commemorate the company’s transition to the public markets and highlight its ongoing work in total artificial heart therapy for end-stage heart failure patients. The ceremony underscores Picard Medical’s move into a new phase of growth as a newly public company, with executives emphasizing that public-market access is expected to support further development of its artificial heart platform, including the fully implantable Emperor system, and to build on its long-standing clinical leadership in mechanical circulatory support, signaling potential long-term benefits for patients, hospital partners and investors focused on advanced cardiac technologies.