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Picard Medical vs EBR Systems: PMI and EBRCZ compared
Picard Medical is the larger company: $3.0M of revenue in its latest quarter (Q2 2026) against $2.5M for EBR Systems (Q3 2026). EBR Systems is growing faster (+386% against +39% a year earlier). Picard Medical is more profitable, with an operating margin of -156.7% against -653.3%.
Where the money goes: PMI and EBRCZ
Picard Medical (PMI) · Q2 2026
Picard Medical, Q2 2026: revenue $3.0M (+39% year over year), operating margin -156.7%, net loss $5.7M, operating cash flow −$1.4M. The chart follows the revenue to costs, profit and cash.
EBR Systems (EBRCZ) · Q3 2026
EBR Systems, Q3 2026: revenue $2.5M (+386% year over year), operating margin -653.3%, net loss $16.6M, operating cash flow −$17.3M. The chart follows the revenue to costs, profit and cash.
| Picard Medical (PMI) | EBR Systems (EBRCZ) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $3.0M | $2.5M |
| Revenue growth, Y/Y | +39% | +386% |
| Operating margin | -156.7% | -653.3% |
| Net earnings | −$5.7M | −$16.6M |
| Net margin | -191.6% | -669.2% |
| Operating cash flow | −$1.4M | −$17.3M |
Where the revenue comes from
Picard Medical
- Product: $2.9M (99%)
- Rentals: $19K (1%)
EBR Systems
- WiSE CRT System: $2.5M (99%)
- Battery replacements: $33K (1%)
Questions
Which is bigger, Picard Medical or EBR Systems?
Picard Medical is the larger company: $3.0M of revenue in its latest quarter (Q2 2026) against $2.5M for EBR Systems (Q3 2026).
Is Picard Medical or EBR Systems growing faster?
EBR Systems is growing faster (+386% against +39% a year earlier).
Which is more profitable, Picard Medical or EBR Systems?
Picard Medical is more profitable, with an operating margin of -156.7% against -653.3%.
More: Picard Medical earnings · how Picard Medical makes money · EBR Systems earnings · how EBR Systems makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 19, 2026; 10-Q filed Nov 9, 2026). Fiscal quarters can end on different dates. Not investment advice.