aibioVycor Medical reports first quarter 2026 results
Tickers VYCO
Revenue for the three months ended March 31, 2026 was $458,540, an increase of $22,162, or 5%, over the 2025 period. The company said most of the growth came from international markets.
Key facts
- Company
- VYCOR MEDICAL INC (OTC: VYCO)
- News type
- Company Updates
- Primary source
- VYCOR MEDICAL INC 8-K (2026-05-15)
Vycor Medical, Inc. (OTCQB: VYCO) reported financial results for the three months ended March 31, 2026, in a release dated May 15, 2026, and filed with the SEC on Form 8-K. The company operates two business units. Vycor Medical produces the ViewSite Brain Access System (VBAS) for neurosurgeons. NovaVision, a business still in development, offers therapy programs for patients recovering from visual disorders after stroke or other brain injury.
The quarter
Total revenue was $458,540, compared with $436,378 in the first quarter of 2025. The Vycor Medical division generated $440,441, an increase of $21,921, or 5%, over the 2025 period. The release says most of that increase came from international growth, which it describes as a key company strategy. NovaVision revenue was $18,099, compared with $17,858 a year earlier, and its gross margin was 89%, compared with 94%.
Vycor Medical division gross profit was $359,040, compared with $341,798 in the 2025 period. Total gross profit was $375,153, compared with $358,534.
The company reported an operating profit of $45,808, compared with an operating loss of $(12,806) in the 2025 period. Non-GAAP operating profit was $59,788, compared with $20,388. Non-GAAP cash operating expenses were $315,365, compared with $338,146.
The release gives no separate figure for revenue by region. It says only that most of the Vycor Medical division's increase came from international growth. NovaVision's gross profit was $16,113, compared with $16,736 a year earlier, which is why its gross margin fell from 94% to 89% even though its revenue rose slightly.
Net loss and per-share results
On a GAAP basis, operating expenses were $329,345, which include non-cash depreciation of purchased assets of $13,980. The company reported net income of $20,108 for the quarter, compared with a net loss of $(38,563) a year earlier. After preferred stock dividends of $(162,185) in both periods, the net loss available to common stockholders was $(142,077), compared with $(200,748) in the first quarter of 2025.
On a non-GAAP basis, the net loss available to common stockholders was $(128,097), compared with $(167,554). Basic and diluted loss per share was $(0.00). The company had 33,372,796 weighted average shares outstanding, the same as in the prior-year period.
Clinical publications
The release said two new peer-reviewed studies on VBAS were published in 2026 to date. That brings the total to 52 published peer-reviewed clinical papers, with an additional 14 other clinical papers. One study was a case study of a complex pediatric tumor case. It highlighted the effectiveness of combining neuro-navigation systems with VBAS as "a paramount strategy for the surgical resection" of that type of lesion.
The second study was a retrospective review of 23 patients undergoing tumor resection. It compared outcomes from surgery using VBAS with outcomes from traditional or so-called blade retractors. The release says the tubular retractor group had significantly fewer new neurological deficits at follow up, which it reads as implying safer tumor resection using VBAS. That is the company's reading of a retrospective review of 23 patients and a single case study. Neither is a randomized trial, and the release gives no p-value or event counts.
Financial position
The company's 10-K for 2025 reported research and development expense of $9,963, down from $15,325 in 2024. Its net loss was $72,426 for 2025, compared with $107,200 for 2024. Cash from operations was negative $13,471 in 2025, compared with $60,110 in 2024. Year-end cash and cash equivalents at the end of 2024 were $105,648.
What comes next
The release does not give revenue or profit guidance for the rest of 2026. Common holders still lost money: the $20,108 net income was far smaller than the $162,185 of preferred dividends, and the operating profit of $45,808 rests on revenue of under half a million dollars. The 10-K shows a net loss of $72,426 for 2025 and negative operating cash flow of $13,471. It also does not say when further clinical papers will be published.