Filing Flows › Picard Medical (PMI) › Q1 2026
Picard Medical (PMI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
Picard Medical (PMI) reported revenue of $1.1M for the first quarter 2026 (Q1 2026), +85% from a year earlier and +14% from the quarter before. Operating margin was -392.3%, net loss $7.6M (662.3% of revenue).
Picard Medical, Q1 2026: revenue $1.1M (+86% year over year), operating margin -392.3%, net loss $7.6M, operating cash flow −$3.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1M | +14% | +85% |
| Operating profit | −$4.5M | — | — |
| Net earnings | −$7.6M | — | — |
| Operating cash flow | −$3.8M | — | — |
What changed
Revenue was $1.1M in Q1 2026, up 85% year over year and up 14% from the previous quarter. Product was the largest line at 82% of revenue. Product added $330K year over year (up 54%), 62% of the total change.
Gross margin was 23.9%. Operating costs exceeded revenue by $4.5M, an operating margin of -392.3%. The fastest-growing cost line was Research & development (+135%). The quarter ended with a net loss of $7.6M, wider than the previous quarter's $4.3M loss.
Operating cash flow was −$3.8M. Non-cash charges added back $46K of depreciation and amortization and $165K of share-based compensation. Working capital and other items added $3.6M. Capital expenditures of $26K exceeded it, leaving free cash flow of −$3.8M.
Questions
What was Picard Medical's revenue in the first quarter 2026?
Picard Medical (PMI) reported revenue of $1.1M for the first quarter 2026 (Q1 2026), +85% from a year earlier and +14% from the quarter before.
Was Picard Medical profitable in the first quarter 2026?
Operating loss was $4.5M (-392.3% of revenue) and net loss $7.6M.
Source: Picard Medical 10-Q on SEC EDGAR.