Vycor Medical (OTCQB: VYCO) posts Q2 2026 loss as revenue drops 16%
Rhea-AI Filing Summary
Vycor Medical, Inc. reported weaker results for the three and six months ended June 30, 2026. Second‑quarter revenue was $418,264, down 16% from 2025, as Vycor Medical (VBAS) revenue fell 17% to $401,224, mainly from softer international demand, while development‑stage NovaVision revenue grew 17% to $17,040. Q2 gross profit declined to $344,445, with gross margin at 82% versus 83% a year earlier.
For Q2 2026, operating income on a GAAP basis was $6,851, but the company recorded a net loss of $(22,288), compared with net income of $23,887 in 2025, primarily due to interest expense and discontinued operations. On a non‑GAAP basis (excluding depreciation of purchased assets and stock‑based compensation), Q2 cash operating expenses were $321,492, non‑GAAP operating profit was $22,952, and non‑GAAP net loss was $(6,187). For the first half of 2026, revenue decreased 6% to $876,804, gross profit declined 8% to $719,598, GAAP operating income was $52,659, and the net loss available to common stockholders was $(164,365). Weighted average shares outstanding were 33,372,796.
Positive
- None.
Negative
- Q2 2026 revenue declined 16% to $418,264, with Vycor Medical division revenue down 17%, and Q2 net income swung from a $23,887 profit to a $(22,288) loss.
8-K Event Classification
Key Figures
Key Terms
non-GAAP financial measures financial
Non-GAAP Cash Operating Expenses financial
Visual Restoration Therapy medical
foreign currency translation adjustment financial
discontinued operations financial
stock-based compensation financial
Earnings Snapshot
FAQ
How did Vycor Medical (VYCO) perform financially in Q2 2026?
What were Vycor Medical (VYCO)’s results for the first half of 2026?
How did the Vycor Medical (VBAS) division of VYCO perform in Q2 2026?
What were Vycor Medical (VYCO)’s non-GAAP results for Q2 2026?
How is NovaVision, Vycor Medical (VYCO)’s development division, performing?
What were Vycor Medical (VYCO)’s profit margins in the first half of 2026?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported):
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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
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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. ☐
TABLE OF CONTENTS
| Item 2.02. | Results of Operations and Financial Conditions | 3 |
| Item 9.01 | Financial Statements and Exhibits | 3 |
| SIGNATURES | 4 | |
| 2 |
Item 2.02. Results of Operations and Financial Conditions
The information in this report and the exhibit attached hereto are being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing with the Securities and Exchange Commission under the Securities Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference to such filing.
On August 14, 2026, we issued a press release regarding our financial results for the three and six months ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.
Non-GAAP Measures
We make reference to non-GAAP financial information in this press release together with a reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures. Specifically, we have provided non-GAAP Cash Operating Expenses and non-GAAP Cash Operating Loss measures that exclude Depreciation and non-cash Stock Compensation.
We believe that these non-GAAP financial measures provide investors with insight into what is used by management to conduct a more meaningful and consistent comparison of our ongoing operating results and trends, compared with historical results. This presentation is also consistent with the measures management uses to measure the performance of ongoing operating results against prior periods and against our internally developed targets. There are limitations in using these non-GAAP financial measures because they are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. These non-GAAP financial measures should not be considered in isolation or as a substitute for GAAP financial measures. Investors and potential investors should consider non-GAAP financial measures only in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP and the reconciliation of non-GAAP financial measures in this press release.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits. |
| Exhibit 99.1. | Vycor Medical, Inc. Press Release dated August 14, 2026. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
| 3 |
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Vycor Medical, Inc. | ||
| By: | /s/ Peter C. Zachariou | |
| Name: | Peter C. Zachariou | |
| Title: | Chief Executive Officer | |
| Dated: | August 14, 2026 | |
| 4 |
Exhibit 99.1
Vycor Medical Releases Financial Results for the Three And Six Months Ended June 30, 2026
BOCA RATON, FL (August 14, 2026) – Vycor Medical, Inc. (“Vycor”) (OTCQB—VYCO), today announced financial results for the three and six months ended June 30, 2026.
The Company operates through two business units: Vycor Medical, which produces the ViewSite™ Brain Access System (VBAS) for neurosurgeons; and NovaVision®, a business in development which offers therapy programs to help patients recover from visual disorders after stroke or other brain injury.
Company Highlights
| ● | The Vycor Medical division
revenues for the three months ended June 30, 2026 decreased by 17%, | |
| ● | Operating profit for the three months ended June 30, 2026 and 2025 was $6,851 and $51,146 respectively, and operating profit for the six months ended June 30, 2026 and 2025 was $52,659 and $38,340 respectively. | |
| ● | Non-GAAP operating profit for the three months was $22,952 compared to $85,712 in the 2025 period and for the six months was $82,740 compared to $106,100 in the 2025 period. |
| ● | During 2026 to date, three new peer-reviewed studies were published on the ViewSite Brain Access System (VBAS), bringing the total published peer reviewed clinical papers to 53, with an additional 14 other clinical papers. One was a case study on a complex pediatric tumor case, which particularly highlighted the effectiveness of integrating neuro-navigation systems with VBAS as “a paramount strategy for the surgical resection” of this type of lesion. The second was a retrospective study of 23 patients undergoing tumor resection, comparing outcomes of surgery using VBAS with outcomes using traditional or so-called blade retractors. The study highlighted the significantly fewer new neurological deficits at follow up for the tubular retractor group compared to the traditional blade retractor group, implying safer tumor resection using VBAS. The most recent paper reported on a retrospective single-center study of 29 consecutive adults undergoing minimally invasive suboccipital tubular resection using VBAS of previously untreated posterior fossa metastases; the study conclusion was that minimally invasive tubular resection enables effective decompression of relatively large posterior fossa metastases with low cerebrospinal fluid diversion rates. |
Financial Results
For
the three months ended June 30, 2026, the Company reported revenue of $418,264, a decrease of 16% over the 2025 period. The Vycor Medical
division (VBAS) generated revenue of $401,224, a decrease of $80,564 (or 17%) over the 2025 period, with most of the decrease from international
markets. Gross profit for 2026 was $327,225, a 19% decrease over
For
the six months ended June 30, 2026, the Company reported revenue of $876,804, a decrease of 6% over the 2025 period. The Vycor Medical
division (VBAS) generated revenue of $841,665, a decrease of $58,643 (or
| Three months ended June 30, | Six months ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue | ||||||||||||||||
| Vycor Medical | $ | 401,224 | $ | 481,788 | $ | 841,665 | $ | 900,308 | ||||||||
| NovaVision | 17,040 | 14,565 | 35,139 | 32,423 | ||||||||||||
| $ | $ | 496,353 | $ | 876,804 | $ | 932,731 | ||||||||||
| Gross Profit | ||||||||||||||||
| Vycor Medical | $ | 327,225 | $ | 401,783 | $ | 686,265 | $ | 743,581 | ||||||||
| NovaVision | 17,220 | 13,488 | 33,333 | 30,224 | ||||||||||||
| $ | 344,445 | $ | 415,271 | $ | 719,598 | $ | 773,805 | |||||||||
For the three months ended June 30, 2026 the Company reported non-GAAP Cash Operating Expenses of $321,492 compared to $329,559 in the 2025 period, and non-GAAP Operating Profit of $22,952 compared to $85,712 in the 2025 period. For the six months ended June 30, 2026 the Company reported non-GAAP Cash Operating Expenses of $636,858 compared to $667,705 in the 2025 period, and non-GAAP Operating Profit of $82,740 compared to $106,100 in the 2025 period.
Reconciliation of Non-GAAP Information
Non-GAAP Reconciliation
Management uses certain non-GAAP financial measures (including non-GAAP operating expenses and non-GAAP net loss and loss per share), which exclude non-cash depreciation of purchased assets and non-cash stock-based compensation. Management does not consider these costs in evaluating the continuing operations of the Company. Therefore, management calculates the non-GAAP financial measures provided in this earnings release excluding these costs and uses these non-GAAP financial measures to enable it to analyze further, and more consistently, the period-to-period financial performance of its core business operations. Management believes that providing investors with these non-GAAP measures gives them additional important information to enable them to assess, in the same way management assesses, the Company’s current and future continuing operations. There are limitations in using these non-GAAP financial measures because they are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. These non-GAAP financial measures should not be considered in isolation or as a substitute for GAAP financial measures. Investors and potential investors should consider non-GAAP financial measures only in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP. Set forth below are reconciliations of the non-GAAP financial measures to the comparable GAAP financial measures.
Three months ended June 30, 2026
On
a GAAP basis for three months ended June 30, 2026 the Company reported Operating Expenses of
Vycor’s GAAP operating costs for three months ended June 30, 2026 include non-cash depreciation of purchased assets ($16,101). The Company is providing additional non-GAAP financial measures that exclude these charges and expenses, and reconciliation of GAAP to non-GAAP results is provided in the tables included in this release.
On a non-GAAP basis, taking into account these adjustments, operating expenses for the three months ended June 30, 2026 were $321,492, non-GAAP operating profit was $22,952, and non-GAAP net loss was $(6,187) or $(0.00) per share.
Six months ended June 30, 2026
On
a GAAP basis for six months ended June 30, 2026 the Company reported Operating Expenses of $666,939, an operating profit of $52,659,
a net loss of $(164,365) or
Vycor’s GAAP operating costs for six months ended June 30, 2026 include non-cash depreciation of purchased assets ($30,081). The Company is providing additional non-GAAP financial measures that exclude these charges and expenses, and reconciliation of GAAP to non-GAAP results is provided in the tables included in this release.
On a non-GAAP basis, taking into account these adjustments, operating expenses for the six months ended June 30, 2026 were $636,858, non-GAAP operating profit was $82,740, and non-GAAP net loss was $(134,284) or $(0.00) per share.
VYCOR
MEDICAL, INC.
Consolidated Statements of Comprehensive Loss
(audited)
| For the three months ended June, 30 | For the six months ended June, 30 | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue | $ | 418,264 | $ | 496,353 | $ | 876,804 | $ | 932,731 | ||||||||
| Cost of Goods Sold | 73,819 | 81,082 | 157,206 | 158,926 | ||||||||||||
| Gross Profit | 344,445 | 415,271 | 719,598 | 773,805 | ||||||||||||
| Operating Expenses: | ||||||||||||||||
| Research and development | - | 4,201 | - | 9,963 | ||||||||||||
| Depreciation and amortization | 14,883 | 14,881 | 28,863 | 29,761 | ||||||||||||
| Selling, general and administrative | 322,711 | 345,043 | 638,076 | 695,741 | ||||||||||||
| Total Operating Expenses | 337,594 | 364,125 | 666,939 | 735,465 | ||||||||||||
| Operating income | 6,851 | 51,146 | 52,659 | 38,340 | ||||||||||||
| Other (Expense) Income | ||||||||||||||||
| Interest expense: Related Party | (12,570 | ) | (12,572 | ) | (25,140 | ) | (25,142 | ) | ||||||||
| Interest expense: Other | (13,264 | ) | (12,862 | ) | (26,403 | ) | (26,001 | ) | ||||||||
| (Loss) gain on foreign currency exchange | (126 | ) | 1 | (130 | ) | 2 | ||||||||||
| Total Other (Expense) | (25,960 | ) | (25,433 | ) | (51,673 | ) | (51,141 | ) | ||||||||
| Income (Loss) Before Provision for Income Taxes | (19,109 | ) | 25,713 | 986 | (12,801 | ) | ||||||||||
| Provision for income taxes | - | - | - | - | ||||||||||||
| Net Income (Loss) from continuing operations | (19,109 | ) | 25,713 | 986 | (12,801 | ) | ||||||||||
| Loss from discontinued operations, net of tax | (3,179 | ) | (1,826 | ) | (3,166 | ) | (1,875 | ) | ||||||||
| Net Income (Loss) | (22,288 | ) | 23,887 | (2,180 | ) | (14,676 | ) | |||||||||
| Preferred stock dividends | - | - | (162,185 | ) | (162,185 | ) | ||||||||||
| Net Loss Available to Common Stockholders | ($ | 22,288 | ) | $ | 23,887 | ($ | 164,365 | ) | ($ | 176,861 | ) | |||||
| Other Comprehensive Income (Loss) | ||||||||||||||||
| Foreign Currency Translation Adjustment | (20 | ) | - | (20 | ) | - | ||||||||||
| Comprehensive Income (Loss) | ($ | 22,308 | ) | $ | 23,887 | ($ | 2,200 | ) | ($ | 14,676 | ) | |||||
| Income (Loss) Per Share - basic and diluted | ||||||||||||||||
| Income (Loss) from continuing operations | ($ | 0.00 | ) | $ | 0.00 | ($ | 0.00 | ) | ($ | 0.01 | ) | |||||
| Loss from discontinued operations | ($ | 0.00 | ) | ($ | 0.00 | ) | ($ | 0.00 | ) | ($ | 0.00 | ) | ||||
| Income (Loss) available to common stockholders | ($ | 0.00 | ) | $ | 0.00 | ($ | 0.00 | ) | ($ | 0.01 | ) | |||||
| Weighted Average Number of Shares Outstanding – Basic and Diluted | 33,372,796 | 33,372,796 | 33,372,796 | 33,372,796 | ||||||||||||
| Weighted Average Number of Shares Outstanding – Diluted | 33,372,796 | 38,667,862 | 33,372,796 | 33,372,796 | ||||||||||||
VYCOR
MEDICAL, INC.
Non-GAAP Reconciliation of Operating Loss and Net Loss
(unaudited)
| For the three months ended June 30, | For the six months ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| GAAP Operating Expenses | $ | 337,593 | $ | 364,125 | $ | 666,939 | $ | 735,465 | ||||||||
| Non-cash depreciation of purchased assets (1) | (16,101 | ) | (16,251 | ) | (30,081 | ) | (31,131 | ) | ||||||||
| Non-cash stock-based compensation (2) | - | (18,315 | ) | - | (36,629 | ) | ||||||||||
| Total Non-GAAP Operating Expense Adjustments | (16,101 | ) | (34,566 | ) | (30,081 | ) | (67,760 | ) | ||||||||
| Non GAAP Cash Operating Expenses | $ | 321,492 | $ | 329,559 | $ | 636,858 | $ | 667,705 | ||||||||
| GAAP Operating Profit | $ | 6,851 | $ | 51,146 | $ | 52,659 | $ | 38,340 | ||||||||
| Non-GAAP Operating Expense Adjustments, as above | 16,101 | 34,566 | 30,081 | 67,760 | ||||||||||||
| Non-GAAP Operating Profit | $ | 22,952 | $ | 85,712 | $ | 82,740 | $ | 106,100 | ||||||||
| GAAP Net Income (Loss) available to common shareholders | ($ | 22,288 | ) | $ | 23,887 | ($ | 164,365 | ) | ($ | 176,861 | ) | |||||
| Non-GAAP Operating Expense Adjustments, as above | 16,101 | 34,566 | 30,081 | 67,760 | ||||||||||||
| Non-GAAP Net Income (Loss) available to common stockholders | ($ | 6,187 | ) | $ | 58,453 | ($ | 134,284 | ) | ($ | 109,101 | ) | |||||
| Non-GAAP Income (Loss) Per Share basic and diluted | ($ | 0.00 | ) | $ | 0.00 | ($ | 0.00 | ) | ($ | 0.00 | ) | |||||
| Weighted Average Number of Shares Outstanding – Basic | 33,372,796 | 33,372,796 | 33,372,796 | 33,372,796 | ||||||||||||
| Weighted Average Number of Shares Outstanding – Diluted | 33,372,796 | 38,667,862 | 33,372,796 | 33,372,796 | ||||||||||||
(1) Non-Cash depreciation of purchased assets. These are non-cash charges related to assets which can be impacted by the timing and magnitude of acquisitions. We consider our operating results without these charges when evaluating our ongoing costs and performance and therefore exclude such charges when presenting non-GAAP financial measures.
(2) Non-Cash Stock-based compensation expense consists of expense relating to stock-based compensation issued to employees, outside directors and non-employees including stock options, restricted common stock, and warrants. Because of varying available valuation methodologies, subjective assumptions and the fact that these amounts vary in size and timing, we believe that the exclusion of stock-based compensation expense allows for a more accurate comparison of our financial results to previous periods. In addition, we believe it is useful to investors to understand the specific impact of stock-based compensation expenses on our operating results.
About Vycor Medical, Inc.
With corporate headquarters in Boca Raton, FL, Vycor Medical, Inc. (“Vycor”) is a publicly traded company (OTCQB: VYCO) dedicated to providing the medical community with innovative and superior surgical and therapeutic solutions and has a growing portfolio of FDA cleared or registered medical solutions that are changing and improving lives every day. The Company operates two business units: Vycor Medical and NovaVision, both of which adopt a minimally or non-invasive approach.
Vycor Medical’s FDA-cleared ViewSite™ Brain Access System (VBAS) a minimally invasive neurosurgical device designed to improve access to brain lesions while reducing tissue damage and enhancing patient outcomes. The VBAS system has been approved and used in over 350 hospitals in the US and in numerous countries internationally. VBAS is protected by 49 issued and 8 pending patents and has been validated through over 50 peer-reviewed studies. These studies demonstrate that use of VBAS results in: less brain tissue damage; less invasive procedure; improved access and better visibility; and reduced operating and recovery time. For an overview of Vycor Medical’s VBAS see VBAS Video.
NovaVision provides a suite of clinically supported vision rehabilitation therapies aimed at helping patients recover from visual impairments caused by stroke or other brain injury. The Visual Restoration Therapy (VRT) is the only commercialized FDA-cleared therapy for vision rehabilitation following neurological brain damage, making it a unique and important option for patients seeking to regain lost visual capabilities. The complementary NeuroEyeCoach program, clinically supported by a 296-patient study (the largest to date in the neuro visual space), enables dramatic improvements in patients’ ability to detect objects in the visual field by training them to make better eye movements with improvement in over 80% of patients. The NovaVision therapies, while showing a positive impact on these patients’ lives, still require significant development to allow them to successfully address their market potential. For an overview of NovaVision see NovaVision Video.
For the latest information on the company, including media and other coverage, and to learn more, please go online at www.vycormedical.com, www.vycorvbas.com or www.novavision.com.
Safe Harbor Statement
Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “forecast”, “anticipate”, “estimate”, “project”, “intend”, “expect”, “should”, “believe”, and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Vycor Medical’s actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in Vycor Medical’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Vycor Medical herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Vycor Medical disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.
Vycor Medical, Inc. Contacts:
951 Broken Sound Parkway, Suite 320
Boca Raton, FL. 33487
(561) 558-2020
info@vycormedical.com
LinkedIn: https://www.linkedin.com/in/vycor-medical-inc/
Instagram: https://www.instagram.com/vycormedical/
Facebook: https://www.facebook.com/Vycor.Nova/
Twitter/X: https://x.com/vycormedical
YouTube: https://www.youtube.com/@vycormedical6049
##END##