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Picard Medical vs EBR Systems: PMI and NONE. compared
Picard Medical is the larger company: $3.0M of revenue in its latest quarter (Q2 2026) against $2.6M for EBR Systems (Q2 2026). EBR Systems is growing faster (16× against +39% a year earlier). Picard Medical is more profitable, with an operating margin of -156.7% against -621.8%.
Where the money goes: PMI and NONE.
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 (NONE.) · Q2 2026
EBR Systems, Q2 2026: revenue $2.6M (16× year over year), operating margin -621.8%, net loss $17.5M, operating cash flow −$17.2M. The chart follows the revenue to costs, profit and cash.
| Picard Medical (PMI) | EBR Systems (NONE.) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q2 2026 |
| Revenue | $3.0M | $2.6M |
| Revenue growth, Y/Y | +39% | 16× |
| Operating margin | -156.7% | -621.8% |
| Net earnings | −$5.7M | −$17.5M |
| Net margin | -191.6% | -661.9% |
| Operating cash flow | −$1.4M | −$17.2M |
Where the revenue comes from
Picard Medical
- Product: $2.9M (99%)
- Rentals: $19K (1%)
EBR Systems
- WiSE CRT System: $2.6M (99%)
- Surgical tool kits: $16K (1%)
- Battery replacements: $13K (0%)
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 $2.6M for EBR Systems (Q2 2026).
Is Picard Medical or EBR Systems growing faster?
EBR Systems is growing faster (16× 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 -621.8%.
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 Aug 11, 2026). Fiscal quarters can end on different dates. Not investment advice.