[8-K] Picard Medical, Inc. Reports Material Event

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Picard Medical, Inc. reported strong preliminary, unaudited top-line revenue growth for the first quarter ended March 31, 2026. Revenue rose 79.9% to $1.1 million from $0.6 million a year earlier, driven by higher sales of the SynCardia Total Artificial Heart and increased driver rental income, helped by favorable reimbursement and economic conditions in the U.S.

The company also implemented pricing adjustments in its driver rental program, supporting higher recurring revenue. Management highlighted progress in commercial and operational initiatives and a focus on expanding patient access and advancing a next-generation fully implantable total artificial heart. These figures are preliminary and unaudited, and final results will be reported in the upcoming Form 10-Q.

Insights

Preliminary Q1 revenue jumps ~80% on stronger artificial heart demand and pricing.

Picard Medical posted preliminary Q1 2026 revenue of $1.1 million, up 79.9% from $0.6 million a year earlier. The increase stems from higher utilization of the SynCardia Total Artificial Heart and more driver rental income, supported by favorable U.S. reimbursement conditions.

The company also raised prices in its driver rental program, boosting recurring revenue, which is important for a small, procedure-driven business. Management links this growth to broader commercial and operational initiatives and increased use of the device as a bridge to transplant.

The data remain preliminary and unaudited, and the independent auditor has not reviewed them. The full Form 10-Q, expected on or before May 15, 2026, will provide detailed margins, cash flows, and any sustainability indicators behind this rapid top-line expansion.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q1 2026 revenue: $1.1 million Q1 2025 revenue: $0.6 million Revenue growth rate: 79.9% +2 more

5 metrics

Q1 2026 revenue $1.1 million Preliminary, unaudited top-line revenue for three months ended March 31, 2026

Q1 2025 revenue $0.6 million Revenue for three months ended March 31, 2025

Revenue growth rate 79.9% Year-over-year increase in revenue for Q1 2026 vs Q1 2025

Total STAH implants More than 2,100 implants Cumulative SynCardia Total Artificial Heart implants at hospitals

Countries with STAH implants 27 countries Hospitals where SynCardia Total Artificial Heart has been implanted

Key Terms

preliminary, unaudited top-line revenues, bridge to transplant, end-stage heart failure, forward-looking statements, +2 more

6 terms

preliminary, unaudited top-line revenues financial

"today announced preliminary, unaudited top-line revenues for the first quarter ended March 31, 2026"

bridge to transplant medical

"increased utilization of our total artificial heart as a bridge to transplant"

A bridge to transplant is a temporary medical treatment or device used to keep a patient stable and alive while they wait for an organ transplant, such as a heart, lung, or liver. For investors, it signals a defined market for products and services that sustain patients during the waiting period—similar to a rental car keeping someone moving until their new car arrives—affecting demand, pricing, reimbursement and regulatory risk for related companies.

end-stage heart failure medical

"total artificial heart technology for patients with end-stage heart failure"

End-stage heart failure is the final, severe phase of chronic heart disease when the heart can no longer pump enough blood despite available medicines and procedures, like an engine that keeps failing even after repeated repairs. It matters to investors because this condition drives demand for high-cost treatments (advanced drugs, devices, transplants, and long-term care), influences regulatory and reimbursement decisions, and can shape market opportunities and financial risk for healthcare companies.

forward-looking statements regulatory

"This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

reimbursement financial

"due to favorable reimbursement and economic conditions in the United States"

Reimbursement is the payment a healthcare payer (like an insurance company or government program) provides to a patient, doctor, or company for the cost of a medicine, device, or medical service. It matters to investors because whether and how much a payer will cover a product determines how many patients can afford it and how much revenue the maker can realistically earn—think of it like whether a preferred credit card covers a purchase, which affects how often customers buy it.

Quarterly Report on Form 10-Q regulatory

"expects to file its full financial results in its Quarterly Report on Form 10-Q"

A quarterly report on Form 10-Q is a standardized financial filing public companies must submit to U.S. regulators every three months, summarizing recent financial results, cash flows, balance sheet changes, operations and material risks or legal developments. Investors treat it like a company report card that shows up-to-date facts rather than marketing copy, helping them track performance, spot trends, reassess risk and make buy or sell decisions.

Offering Details

earnings_snapshot

Offering

Offering Type earnings_snapshot

Understanding 8-K Material Events →

04/22/2026 - 08:09 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 22, 2026

Picard Medical, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-42801

86-3212894

(State or other jurisdiction

of incorporation)

(Commission
File Number)

(IRS Employer

Identification No.)

1992 E Silverlake
Tucson AZ, 85713

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (520) 545-1234

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		PMI		The NYSE American, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.

Results of Operations and Financial Condition.

The following information is intended to be furnished under Item 2.02 of Form 8-K, “Results of Operations and Financial Condition.” This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, whether made before or after the date of this report, regardless of any general incorporation language in the filing. In a press release dated April 22, 2026, Picard Medical, Inc. (the “Company”) announced preliminary unaudited top-line revenue results for the Company’s first quarter ended March 31, 2026. The full text of the press release is furnished herewith as Exhibit 99.1 to this report.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits

The following exhibits are being furnished herewith:

Exhibit No.		Description
99.1		Picard Medical, Inc. Press Release dated April 22, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Picard Medical, Inc.

By:	/s/ Patrick NJ Schnegelsberg
	Name:	Patrick NJ Schnegelsberg
	Title:	Chief Executive Officer

Dated: April 22, 2026

Exhibit 99.1

Picard Medical / SynCardia Reports Revenue Growth
Based on Top-line Results for the First Quarter 2026

– Growth driven by increased U.S. demand and pricing –

TUCSON, Ariz., April 22, 2026 — Picard Medical, Inc. (NYSE American: PMI) (“Picard Medical” or the “Company”), parent company of SynCardia Systems, LLC, (“SynCardia”) maker of the world’s first total artificial heart approved by both the U.S. FDA and Health Canada, today announced preliminary, unaudited top-line revenues for the first quarter ended March 31, 2026.

Revenue rose 79.9% to $1.1 million for the three months ended March 31, 2026, from $0.6 million for the three months ended March 31, 2025, reflecting higher utilization of the SynCardia Total Artificial Heart (“STAH”) and increased driver rental income.

Growth was driven by higher STAH sales, which was due to favorable reimbursement and economic conditions in the United States. The Company also implemented pricing adjustments for its driver rental program during the quarter, contributing to higher recurring revenue.

Patrick NJ Schnegelsberg, Chief Executive Officer of Picard Medical, said, “Our preliminary revenue growth reflects progress across our commercial and operational initiatives, as well as increased utilization of our total artificial heart as a bridge to transplant. We remain focused on expanding patient access, supporting clinical partners, and advancing development of our next generation fully implantable total artificial heart platform.”

The revenue information in this release constitutes selected preliminary, unaudited financial data based on information available as of the date hereof and remains subject to the completion of the Company’s quarter-end financial close process and review. The Company’s independent registered public accounting firm has not audited, reviewed, or performed any procedures with respect to this preliminary financial data. Actual results may differ materially from these preliminary estimates.

Picard Medical expects to file its full financial results in its Quarterly Report on Form 10-Q with the Securities and Exchange Commission on or before May 15, 2026, and investors should review those materials for a comprehensive presentation of the Company’s results of operations and financial condition.

About Picard Medical and SynCardia

Picard Medical, Inc. is the parent company of SynCardia Systems, LLC (“SynCardia”), the Tucson, Arizona–based leader with the only commercially available total artificial heart technology for patients with end-stage heart failure. SynCardia develops, manufactures, and commercializes the SynCardia Total Artificial Heart (“STAH”), an implantable system that assumes the full functions of a failing or failed human heart. It is the first artificial heart approved by both the FDA and Health Canada, and it remains the only commercially available artificial heart in the United States and Canada. With more than 2,100 implants performed at hospitals across 27 countries, the STAH is the most widely used and extensively studied artificial heart in the world. For additional information about Picard Medical, please visit www.picardmedical.com or review the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations, assumptions and beliefs that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Forward-looking statements can often be identified by words such as “remain,” “expand,” “expect” and “advance,” and similar expressions, and variations or negatives of these words. These statements include, but are not limited to, statements regarding the Company’s financial condition, future operating results, expectations for growth, expanding patient access, supporting clinical partners, and advancing development of our next generation fully implantable total artificial heart platform. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Additional information about the Company, including risk factors that may affect the Company’s business, financial condition, and results of operations, is contained in the Company’s filings with the SEC, including the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available free of charge on the SEC’s website at http://www.sec.gov and on the Company’s investor relations website at https://picardmedical.com/.

Contact:

Investors

Eric Ribner

Managing Director

LifeSci Advisors LLC eric@lifesciadvisors.com

Picard Medical, Inc./SynCardia Systems, LLC IR@picardmedical.com

General/Media

Brittany Lanza blanza@syncardia.com

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Press Releases

EX-99.1 EXHIBIT 99.1 12.9 KB

[8-K] Picard Medical, Inc. Reports Material Event

Rhea-AI Filing Summary

Positive

Negative