---
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"
generated_at: "2026-05-15T09:06:40.257297+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Picard Medical FY2025 revenue up 12.5% to $4.9M, net loss widens to $27.0M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-26-002663
- JSON: https://secwatch.observer/filing/0001829126-26-002663.json
- Plain text: https://secwatch.observer/filing/0001829126-26-002663.txt

## Key facts
- Earnings Releases
  Picard Medical, Inc. reported the year ended December 31, 2025 results: revenue $4.94 million, net income $(27.0) million.
  - Period: the year ended December 31, 2025
  - Revenue: $4.94 million
  - Net income: $(27.0) million
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/2030617/000182912626002663/0001829126-26-002663-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.