Filing Flows › Picard Medical (PMI) › Q2 2025
Picard Medical (PMI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Sep 12, 2025
Picard Medical (PMI) reported revenue of $2.1M for the second quarter 2025 (Q2 2025), +207% from a year earlier and +244% from the quarter before. Operating margin was -165.2%, net loss $6.7M (315.5% of revenue).
Picard Medical, Q2 2025: revenue $2.1M (+207% year over year), operating margin -165.2%, net loss $6.7M, operating cash flow −$2.5M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1M | +244% | +207% |
| Operating profit | −$3.5M | — | — |
| Net earnings | −$6.7M | — | — |
| Operating cash flow | −$2.5M | — | — |
What changed
Revenue was $2.1M in Q2 2025, up 207% year over year and up 244% from the previous quarter.
Operating costs exceeded revenue by $3.5M, an operating margin of -165.2%. Total costs grew 25% against revenue growth of 207%. The fastest-growing cost line was Cost of revenue (+110%). The quarter ended with a net loss of $6.7M, wider than the previous quarter's $5.6M loss.
Operating cash flow was −$2.5M. Non-cash charges added back $40K of depreciation and amortization and $183K of share-based compensation. Working capital and other items added $4.0M.
Questions
What was Picard Medical's revenue in the second quarter 2025?
Picard Medical (PMI) reported revenue of $2.1M for the second quarter 2025 (Q2 2025), +207% from a year earlier and +244% from the quarter before.
Was Picard Medical profitable in the second quarter 2025?
Operating loss was $3.5M (-165.2% of revenue) and net loss $6.7M.
Source: Picard Medical 10-Q on SEC EDGAR.