---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-26-002794"
form_type: "8-K"
ticker: "PMI"
cik: "0002030617"
company_name: "Picard Medical, Inc."
filed_at: "2026-03-27T23:59:59+00:00"
generated_at: "2026-05-15T08:43:40.240534+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "medium"
source: SEC EDGAR
---

# Picard Medical FY2025 revenue $4.94M (+12.5% YoY); U.S. rev +33.5%

## Summary
- Revenue $4.94M (+12.5% YoY); U.S. revenue +33.5% to 88.25% of total.
- Net loss ~$27M (incl. $14.5M non-cash); cash burn $15.67M; IPO raised $35.55M.
- Emperor TAH in preclinical; FDA Breakthrough designation possible in 2026; 2028 clinical study target.
- Manufacturing: valve assembly in-house, driver transfer to China, second source qualification.

## SEC filing metadata
- accession: 0001829126-26-002794
- form_type: 8-K
- ticker: PMI
- cik: 0002030617
- company_name: Picard Medical, Inc.
- filed_at: 2026-03-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: medium
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2030617/000182912626002794/0001829126-26-002794-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2030617/000182912626002794/picardmedical_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-26-002794
- JSON: https://secwatch.observer/filing/0001829126-26-002794.json
- Plain text: https://secwatch.observer/filing/0001829126-26-002794.txt

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