Welcome to our dedicated page for Picard Medical SEC filings (Ticker: PMI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This Picard Medical, Inc. (PMI) SEC filings page provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. Picard Medical is a Delaware corporation listed on the NYSE American, and its filings describe a business conducted through SynCardia Systems, LLC, a medical technology company that manufactures and sells the SynCardia Total Artificial Heart (STAH) for patients with advanced heart failure.
Through documents such as Form S-1 registration statements and Form 8-K current reports, investors can review detailed information about Picard Medical’s operations, financing arrangements, and risk factors. The S-1 filing explains that SynCardia’s platform includes the SynCardia 50cc and 70cc total artificial hearts, external drivers, ancillary hardware, and associated surgeon and center training. It also notes that the company’s customers are major medical centers operating heart transplant and mechanical circulatory support programs and that SynCardia operates an ISO 13485–certified quality management system.
Form 8-K filings for Picard Medical include disclosures on material definitive agreements, such as senior secured notes and warrant financings, bridge financing arrangements, and related security agreements. Additional 8-Ks furnish press releases and presentation materials related to clinical and technical updates on the next-generation, fully implantable Emperor Total Artificial Heart, as well as corporate events like conference presentations and exchange bell-ringing ceremonies.
On this page, users can follow real-time updates from EDGAR and use AI-powered summaries to understand the key points in lengthy filings. Forms such as the S-1, 8-K, and any future 10-K annual reports, 10-Q quarterly reports, or proxy statements can provide insight into Picard Medical’s capital structure, governance, risk profile, and the progress of its SynCardia and Emperor total artificial heart platforms. Insider transaction reports on Form 4, when available, can also be reviewed to see changes in beneficial ownership by company insiders.
Picard Medical, Inc. is asking shareholders to vote at its virtual Annual Meeting on July 17, 2026 (record date: June 26, 2026). Key matters include election of four directors, advisory votes on executive pay, and two Charter amendments: a board-authorized reverse stock split at a ratio of 1-for-15 to 1-for-50 and designation of 15,000,000 shares of Class B common stock with 20 votes per share. The proxy explains the board’s rationale for the reverse split, citing NYSE American non-compliance notices based on stockholders’ equity of approximately $3.8M as of December 31, 2025 and a reported stockholders’ deficit of $(1.4)M as of March 31, 2026. The company submitted a compliance plan to regain listing compliance by November 8, 2027. Other routine items include ratification of MaloneBailey LLP as auditor and amendments to the charter to implement approved changes.
Picard Medical, Inc. filing amends a previously submitted Schedule 13G to report that the listed Reporting Persons beneficially own 0 shares of Common Stock, $0.0001 par value (CUSIP 740459102). The amendment is signed by an attorney-in-fact and dated 06/05/2026.
PMI filed Form 144 notices reporting proposed sales of Common Stock. The filing lists an entry of 3,971,793 shares tied to a debt exchange for equity dated 09/01/2021 and shows transactions by Sindex SSI Lending, LLC of 628,082 shares on 06/01/2026 and 3,343,711 shares on 06/02/2026. The document records the recipient broker as Wells Fargo Clearing Services and identifies the market as NYSE.
Picard Medical, Inc. reported a leadership change in its finance organization effective June 1, 2026. Bernard Skaggs was terminated as Chief Financial Officer, effective immediately. The Board appointed Georgina Smith, 54, as Chief Accounting Officer on the same date, adding senior oversight to the Company’s accounting and reporting functions.
Smith previously served as Controller of SynCardia Systems, LLC, a Picard Medical subsidiary, from January 2026 to May 2026, and earlier held senior accounting roles at Rain Bird Corporation and Tucson Electric Power. She holds both MBA and accounting degrees from the University of Arizona and is a Certified Public Accountant in Arizona. The Company states there are no special arrangements tied to her selection and no related party transactions requiring disclosure.
Picard Medical, Inc. is registering up to 16,211,479 shares of Common Stock for resale by selling stockholders pursuant to this prospectus. The shares consist of (i) up to 8,187,766 shares issuable upon exercise of Placement Agent Warrants, (ii) 80,128 QC Origination Shares, and (iii) 7,943,585 Sindex Shares.
The prospectus states the company will not receive proceeds from sales by the selling stockholders, although Picard Medical may receive proceeds if Placement Agent Warrants are exercised for cash at the stated exercise price. The offering lists selling holders including WestPark Capital (Placement Agent Warrants) and Sindex SSI Financing, LLC (Sindex Shares). Shares outstanding were 92,349,845 as of May 11, 2026.
Picard Medical, Inc. filed an 8-K to share a shareholder letter highlighting strong growth in its artificial heart business alongside ongoing financial and listing challenges. For 2025, total revenue reached $4.9 million, up 12.5%, with product revenue of $4.7 million representing 96% of the total. The company’s NYSE American IPO raised $17.4 million in net equity proceeds and it added $9.7 million of debt financing, ending 2025 with $11.5 million in cash versus $0.1 million a year earlier. In first-quarter 2026, revenue grew 85% to $1.2 million and gross margin swung to a positive 24% from a negative 58% a year before, while Picard repaid $7.4 million of senior secured debt principal in cash and settled $2.1 million through equity. The letter notes a 2025 going-concern qualification and explains steps taken in 2026, including a further $5.0 million public offering and capital structure simplification, as part of a roadmap toward profitability.
The company emphasizes its SynCardia Total Artificial Heart, the only FDA- and Health Canada-approved total artificial heart, with more than 2,100 implants across 27 countries. It is advancing the fully implantable Emperor TAH, which has completed initial animal testing and could be submitted for approval as early as 2028, subject to successful non-clinical work and regulatory review. Management also outlines plans to expand indications via an FDA premarket approval supplement, improve gross margins by scaling manufacturing toward 3,000 units per year, and submit a next-generation lower-cost driver for FDA review in late 2027. The letter discloses that NYSE American has raised concerns about stockholders’ equity; Picard has until June 7, 2026 to submit a compliance plan and is focused on maintaining its listing while continuing cost reductions, debt reduction, and growth initiatives.
Picard Medical, Inc. reported first quarter 2026 results showing rapid top-line growth but continued losses and listing pressure. Revenue grew 85% to $1.2 million, driven by increased use of the SynCardia Total Artificial Heart and Freedom Driver rentals. Gross profit turned positive at $0.3 million with a 24% margin, versus a gross loss in Q1 2025, while net loss was $7.6 million including significant non-cash debt-related charges.
The company materially reduced leverage by repaying about $7.4 million of a senior secured note in cash, settling $2.1 million of principal with 1.4 million common shares, and repaying roughly $0.9 million of related-party debt. A subsequent May 2026 public offering raised $5.0 million and a warrant exchange cut the warrant liability and simplified the capital structure.
Separately, NYSE American notified Picard that it is below two stockholders’ equity listing standards, citing a $3.8 million equity balance as of December 31, 2025 and an approximately $(1.4) million stockholders’ deficit as of March 31, 2026. The company must submit a compliance plan by June 7, 2026 to regain compliance by November 8, 2027. The stock continues trading as PMI with a “.BC” below-compliance flag while operations and SEC reporting continue.
Picard Medical, Inc. is registering up to 16,211,479 shares of Common Stock for resale by existing stockholders. The shares include up to 8,187,766 shares issuable upon exercise of Placement Agent Warrants, 80,128 QC Origination Shares and 7,943,585 Sindex Shares. Picard will not receive proceeds from these resales, but could receive up to approximately $1.87 million if the Placement Agent Warrants are exercised for cash at $0.229 per share. As of May 11, 2026, 92,349,845 shares of Common Stock were outstanding, and the company’s stock closed at $0.17 per share on May 18, 2026.
Picard, through its SynCardia subsidiary, markets the only FDA‑ and Health Canada‑approved Total Artificial Heart used as a bridge to transplant for end‑stage biventricular failure. The company has a history of significant losses, depends heavily on a limited product portfolio, faces manufacturing and supplier concentration risks, and operates in a highly regulated environment with going concern and NYSE continued‑listing risks highlighted in its risk factors.