Picard Medical, Inc.
PMI NYSE Surgical & Medical Instruments & Apparatus Financials FY2024–FY2025
Last close · Oct 23, 2026
$7.09
3.8%What Picard Medical, Inc. does
No business description yet.
- Legal name
- Picard Medical, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 30, 2026
- Accession · CIK
- 0001437749-26-010133
0002030617
Revenue and margins
Picard Medical, Inc. had $4.9M of revenue in fiscal 2025, up 12.5% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Picard Medical, Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 0.0%.
Balance sheet
Cash, debt and the ratios that show how comfortably Picard Medical, Inc. can carry it.
| Fiscal year end | FY24 | FY25 |
|---|---|---|
| Cash and short-term investments | $0.1M | $7.5M |
| Current ratio | 0.3x | 1.1x |
| Quick ratio | 0.0x | 0.7x |
| Total assets | $12.1M | $22.5M |
| Total liabilities | $35.8M | $18.8M |
| Shareholders' equity | −$44.0M | $3.8M |
| Net debt (− = net cash) | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY24 | FY25 |
|---|---|---|
| Net income is positive | ✕ | ✕ |
| Cash from operations is positive | ✕ | ✕ |
| Return on assets rose | — | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ |
| Debt fell relative to assets | — | — |
| Current ratio rose | — | ✓ |
| Share count didn't rise | — | — |
| Gross margin rose | — | ✕ |
| Revenue rose relative to assets | — | ✕ |
| F-score | — / 3 | 3 / 7 |
| Accruals ratio | −75.8% | −65.4% |
| Altman Z'' | −36.16 | −14.26 |
2 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY24 | FY25 |
|---|---|---|
| Income statement | ||
| Revenue | $4.4M | $4.9M |
| Gross profit | −$0.1M | −$0.2M |
| Research and development | $3.4M | $3.0M |
| Operating income | −$13.7M | −$13.3M |
| Pretax income | −$21.1M | −$27.0M |
| Income tax | −$0.0M | $0.0M |
| Net income | −$21.1M | −$27.0M |
| Net income to common | −$23.7M | −$27.0M |
| Cash flow | ||
| Cash from operations | −$11.9M | −$15.7M |
| Depreciation and amortization | $0.2M | $0.2M |
| Stock-based compensation | $0.9M | $0.8M |
| Balance sheet | ||
| Cash and short-term investments | $0.1M | $7.5M |
| Finance lease liabilities | $0.1M | $0.1M |
| Current assets | $9.8M | $20.7M |
| Current liabilities | $35.3M | $18.7M |
| Inventory | $8.1M | $7.3M |
| Property and equipment, net | $0.2M | $0.2M |
| Goodwill | $0.6M | $0.6M |
| Intangible assets | $0.6M | $0.5M |
| Total assets | $12.1M | $22.5M |
| Total liabilities | $35.8M | $18.8M |
| Preferred stock | $20.3M | — |
| Shareholders' equity | −$44.0M | $3.8M |
| Margins | ||
| Gross margin | −2.6% | −4.1% |
| Operating margin | −312.3% | −268.4% |
| EBITDA margin | −307.1% | −265.1% |
| Net margin | −479.5% | −546.6% |
| Returns | ||
| Return on capital employed | 59.1% | −344.1% |
| Return on assets | −173.9% | −155.8% |
| Return on tangible equity | — | −1,013.2% |
| Growth | ||
| Revenue growth | — | 12.5% |
| Financial health | ||
| Current ratio | 0.3x | 1.1x |
| Quick ratio | 0.0x | 0.7x |
| Capital allocation | ||
| Stock comp / revenue | 20.2% | 15.3% |
| Quality scores | ||
| Piotroski F-score | — | 3.0 |
| Altman Z'' | −36.2 | −14.3 |
| Accruals ratio | −75.8% | −65.4% |
Source: SEC EDGAR XBRL filings (CIK 0002030617). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.