Picard Medical, Inc. (PMI) AI Stock Analysis

Picard Medical, Inc., together with its subsidiaries, engages in the designing, manufacturing, production, supply, marketing, and sale of medical device products. The company offers SynCardia TAH, an artificial heart designed to function as a failed human heart in patients suffering from advanced heart failure. The company operates in the United States, Europe, and internationally. Picard Medical was incorporated in 2021, is headquartered in Tucson, Arizona, and operates as a subsidiary of Hunniwell Picard I, Llc.

Picard Medical increased annual revenue from $4.1M in FY2022 to $5.0M in FY2023, followed by a decline to $4.4M in FY2024 and a recovery to $4.9M in FY2025, reflecting a 3-year revenue CAGR of 6.3%. Gross margin moved from -121.3% in FY2022 to 4.0% in FY2025. Operating margin remained negative throughout the period, finishing at -259.1% in FY2025 as net income dropped to -$27.0M with an EPS of -$1.05. Research and development expense totaled $3.0M in FY2025. In the trailing twelve months ended June 30, 2026, revenue stood at $6.3M with quarterly revenue growth of 38.6% year-over-year, an operating margin of -156.7%, and an EPS of -$6.93.

As of June 30, 2026, Picard Medical held $38,000 in cash and short-term investments against total debt of $878,000, yielding net debt of $840,000. Total assets were $9.2M and shareholders' equity was $1.7M, resulting in a debt-to-equity ratio of 0.51 and a current ratio of 1.02. Operating cash flow stood at -$15.7M in FY2025, producing free cash flow of -$15.7M.

At a share price of $12.75, Picard Medical has a market cap of $29.8M and an enterprise value of $12.2M. The stock trades at a price-to-sales multiple of 4.7x, compared to the median of 4.1x for its US-listed Healthcare peers. Its price-to-book multiple is 6.2x, while EV to revenue is 1.9x. The stock has dropped 97.5% over the past year and 85.4% year-to-date, trailing the S&P 500 return of 16.8% over the past year. PMI also trades 59.5% below its 200-day moving average.

For the fiscal year ending December 31, 2026, the consensus revenue estimate is $5.5M with an EPS estimate of -$8.50, representing an EPS growth estimate of 77.3%. For the following fiscal year, 1 analyst projects revenue of $5.9M, representing 7.3% revenue growth, and an EPS of -$4.50. The company's next earnings date is scheduled for November 13, 2026.

This page is an AI-written research summary of Picard Medical, Inc. (PMI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: PMI income statement, PMI balance sheet, PMI key metrics, PMI analyst forecast, PMI chart. See the PMI stock overview for the latest quote and news.