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 files its annual report describing a specialized heart-device business built around the SynCardia Total Artificial Heart, currently the only FDA- and Health Canada‑approved total artificial heart for bridge‑to‑transplant use. The company details reliance on a narrow product line, complex manual manufacturing, and single‑source suppliers for key components.
Picard highlights its 2025 IPO, new senior secured notes with attached warrants, and ongoing investment in next‑generation “Emperor” fully implantable hearts and “Unicorn” driver systems. The filing also notes auditor “going concern” language, CE Mark loss in Europe, regulatory uncertainty for new indications and geographies, and extensive operational, regulatory, and litigation risks.
Picard Medical furnished an earnings presentation covering 2025 results and a strategic update for its SynCardia total artificial heart platform. Revenue rose 12.50% to $4.94 million, driven by 33.49% U.S. growth, which accounted for 88.25% of revenue. The company completed an IPO, raising $35.55 million, and used the funds to repay legacy debt, support operations, and cover transaction costs. Net loss was about $27.00 million, but non-cash and financing items reduced operating cash burn to $15.67 million (GAAP), with a non-GAAP normalized burn of $11.04 million. Cash increased to $11.451 million and notes payable fell sharply, moving stockholders’ equity from a $(44.00) million deficit to positive $3.789 million. Picard highlighted ongoing development of the fully implantable Emperor Total Artificial Heart, next-generation Unicorn portable driver, manufacturing optimization, and regulatory expansion as key priorities for 2026.
Picard Medical, Inc. reported full-year 2025 results, with total revenue of $4.94 million, up from $4.39 million in 2024, an increase of 12.5 percent. Product revenue was $4.75 million and rental revenue was $0.19 million, driven by continued adoption of the SynCardia Total Artificial Heart.
The company posted a gross loss of $0.2 million and an operating loss of $13.3 million, slightly improved from a $13.7 million operating loss in 2024, while net loss widened to $27.0 million from $21.1 million. Cash, cash equivalents and restricted cash rose sharply to $11.5 million as of December 31, 2025, compared to $0.1 million a year earlier, supported by $27.1 million of net cash from financing activities and $15.7 million of net cash used in operating activities.
Management describes 2025 as a transformational year featuring the public listing, balance sheet restructuring and revenue growth, and indicates the company expects to keep investing in commercialization, manufacturing scale and product development, while noting that additional capital will be required to support operations and its business plan.
Picard Medical, Inc., parent of SynCardia Systems, announced it will present new preclinical data on its next-generation Emperor Total Artificial Heart at the American College of Cardiology’s Annual Scientific Session & Expo in New Orleans from March 28 to March 30, 2026.
The poster will cover early engineering and preclinical evaluation of a fully implantable, electromechanical artificial heart system designed to preserve the physiological autoregulation and hemodynamic performance of the currently approved SynCardia Total Artificial Heart. SynCardia will also exhibit at booth #2554, where attendees can learn about the FDA- and Health Canada–approved SynCardia Total Artificial Heart and discuss the design and development progress of the Emperor platform.
Picard Medical, Inc. filed an 8-K to share a clinical milestone for its SynCardia Total Artificial Heart. UCSF Health successfully supported a male patient in his twenties with advanced biventricular heart failure for 119 days on the device before a heart transplant on March 14, 2026.
This is the second of five UCSF patients successfully bridged to transplant using the SynCardia Total Artificial Heart, underscoring its role for end-stage heart failure patients awaiting donor organs. SynCardia’s system is described as the only commercially available total artificial heart in the United States and Canada, with more than 2,100 implants across 27 countries.
Picard Medical, Inc., parent of SynCardia Systems, highlights a landmark clinical case using the SynCardia Total Artificial Heart. A 29-year-old patient with severe biventricular heart failure lived for more than four years supported entirely by the device, totaling 1,636 days, before receiving a successful donor heart transplant on February 24, 2026.
The SynCardia Total Artificial Heart is indicated as a bridge to transplant for patients with irreversible biventricular heart failure who cannot be managed with left ventricular assist devices alone. It replaces both ventricles and all four native heart valves to restore circulation and hemodynamic stability while patients await a donor organ.
Picard notes that more than 2,100 SynCardia Total Artificial Heart implants have been performed worldwide across 27 countries. The technology is described as the first total artificial heart approved by both the U.S. FDA and Health Canada and the only commercially available artificial heart in the United States and Canada.
Picard Medical, Inc. reported the results of a special meeting of stockholders held virtually by live webcast on March 10, 2026. Stockholders of record as of February 6, 2026, when 73,701,176 common shares were outstanding and entitled to vote, were eligible to participate. Approximately 57.16% of these shares were represented in person via internet webcast or by proxy, indicating a solid turnout for the meeting. Two proposals were voted on, with each receiving about 41.7 million votes in favor, fewer than 0.4 million votes against, and very few abstentions, reflecting strong support among participating shareholders.
Picard Medical, Inc. filed a report describing a media appearance featuring its SynCardia Total Artificial Heart. The company will be highlighted on BTV – Business Television in a segment airing on FOX Business News on March 14, 2026 at 5:00 p.m. Eastern Time.
The segment will showcase the SynCardia Total Artificial Heart, which has been implanted in more than 2,100 patients worldwide and is designed to replace both ventricles and all four heart valves for those awaiting heart transplantation. It will also discuss development of a next-generation, fully implantable artificial heart platform aimed at improving patient mobility and quality of life.
Picard Medical, Inc. announced it will host a webcasted Annual Business Update on March 25, 2026 at 4:30 p.m. Eastern Time. During the event, management will review fiscal year and fourth quarter 2025 financial results, discuss operational progress, commercial activity, and strategic priorities.
The webcast will also feature perspectives from leading clinicians and a patient testimonial regarding the SynCardia Total Artificial Heart. Registration is available via a link in the company’s March 12, 2026 press release and on its website, with the press release furnished as Exhibit 99.1.
Picard Medical, Inc., parent of SynCardia Systems, announced that Vice President of Clinical Affairs Dr. Andre Simon will deliver three presentations at the Technology and Heart Failure Therapeutics 2026 conference in Boston from March 2 to March 4, 2026.
The talks will cover new in vitro and in vivo data for the fully implantable Emperor electromechanical total artificial heart, perspectives on the future of total artificial heart therapy, and updated clinical outcomes with the SynCardia Total Artificial Heart that extend beyond survival to organ recovery, functional improvement, and preservation of transplant eligibility.