{"schema_version":"secwatch.filing_event.v1","accession":"0001829126-26-002663","form_type":"8-K","ticker":"PMI","cik":"0002030617","company_name":"Picard Medical, Inc.","filed_at":"2026-03-25T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.046772+00:00","generated_at":"2026-05-15T09:06:40.257297+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Picard Medical FY2025 revenue up 12.5% to $4.9M, net loss widens to $27.0M","bullets":["Revenue $4.94M (+12.5% YoY); product revenue $4.75M, 96% of total.","Gross margin negative 4.1% vs -2.6% in 2024; gross loss $(0.2)M.","Operating loss $(13.3)M, slightly improved from $(13.7)M; net loss $(27.0)M vs $(21.1)M.","Cash & equivalents $11.5M at year-end vs $0.1M in 2024; raised $17.4M net from equity and $9.7M net from debt in 2025.","Company expects to continue investing; additional capital needed to support operations."],"urls":{"canonical":"https://secwatch.observer/filing/0001829126-26-002663","json":"https://secwatch.observer/filing/0001829126-26-002663.json","markdown":"https://secwatch.observer/filing/0001829126-26-002663.md","text":"https://secwatch.observer/filing/0001829126-26-002663.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2030617/000182912626002663/0001829126-26-002663-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2030617/000182912626002663/picardmedical_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T09:06:40.257297+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1eea06709aa75e146ec8c476bdb2906c72e0f6c6","claim":"Picard Medical, Inc. reported the year ended December 31, 2025 results: revenue $4.94 million, net income $(27.0) million.","evidence_excerpt":"be available shortly after the call on the Company’s website, picardmedical.com, and continue to be available for 60 days. Financial Results Revenue Total revenue for 2025 was $4.94 million, compared to $4.39 million in 2024, representing an increase of 12.5 percent. Product revenue was $4.75 million, while rental revenue was $0.19 million. Product revenue was","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2030617/000182912626002663/0001829126-26-002663-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the year ended December 31, 2025"},{"label":"Revenue","value":"$4.94 million"},{"label":"Net income","value":"$(27.0) million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}