Vycor Medical Inc.
05/15/2026 | Press release | Distributed by Public on 05/15/2026 13:43
BOCA RATON, FL (May 15, 2026) – Vycor Medical, Inc. (“Vycor”) (OTCQB—VYCO), today announced financial results for the three months ended March 31, 2026 (Form 8-K)
BOCA RATON, FL (May 15, 2026) - Vycor Medical, Inc. ("Vycor") (OTCQB-VYCO), today announced financial results for the three months ended March 31, 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 increased by 5% over the same period in 2025 with most of the growth coming from international markets. |
| ● | Operating profit was $45,808 compared to an operating loss of $(12,806) for the 2025 period, and non-GAAP operating profit was $59,788 compared to $20,388 in the 2025 period. |
| ● | During 2026 to date, two new peer-reviewed studies were published on the ViewSite Brain Access System (VBAS), bringing the total published peer reviewed clinical papers to 52, 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. |
Financial Results
For the three months ended March 31, 2026, the Company reported revenue of $458,540, an increase of $22,162 (or 5%) over the 2025 period. The Vycor Medical division (VBAS) generated revenue of $440,441, an increase of $21,921 (or 5%) over the 2025 period. Most of the increase came from international growth, a key company strategy. Gross profit for 2025 was $359,040, a 5% increase over 2024, generating a margin of 82% for both periods. The NovaVision division, which remains in development, generated revenues of $18,099 for the three months ended March 31, 2026, a slight over the 2025 period, and gross margin of 89%, compared to 94%.
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Three Months Ended March 31, |
||||||||
| 2026 | 2025 | |||||||
| Revenue | ||||||||
| Vycor Medical | $ | 440,441 | $ | 418,520 | ||||
| NovaVision | 18,099 | 17,858 | ||||||
| $ | 458,540 | $ | 436,378 | |||||
| Gross Profit | ||||||||
| Vycor Medical | $ | 359,040 | $ | 341,798 | ||||
| NovaVision | 16,113 | 16,736 | ||||||
| $ | 375,153 | $ | 358,534 | |||||
For the three months ended March 31, 2026 the Company reported non-GAAP Cash Operating Expenses of $315,365 compared to $338,146 in the 2025 period, and non-GAAP Operating Profit of $59,788 compared to $20,388 in the 2025 period, an increase of $39,400.
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.
On a GAAP basis for three months ended March 31, 2026 the Company reported Operating Expenses of $329,345, an operating profit of $45,808, a net loss of $(142,077) or $(0.0 per share.
Vycor's GAAP operating costs for three months ended March 31, 2026 include non-cash depreciation of purchased assets ($13,980). 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 March 31, 2026 were $315,365, non-GAAP operating profit was $59,788, and non-GAAP net loss was $(128,097) or $(0.00) per share.
VYCOR MEDICAL, INC.
Consolidated Statements of Comprehensive Loss
(unaudited)
|
For the three months ended March, 31 |
||||||||
| 2026 | 2025 | |||||||
| Revenue | $ | 458,540 | $ | 436,378 | ||||
| Cost of Goods Sold | 83,387 | 77,844 | ||||||
| Gross Profit | 375,153 | 358,534 | ||||||
| Operating Expenses: | ||||||||
| Research and development | - | 5,762 | ||||||
| Depreciation and amortization | 13,980 | 14,880 | ||||||
| Selling, general and administrative | 315,365 | 350,698 | ||||||
| Total Operating Expenses | 329,345 | 371,340 | ||||||
| Operating income (loss) | 45,808 | (12,806 | ) | |||||
| Other (Expense) Income | ||||||||
| Interest expense: Related Party | (12,570 | ) | (12,570 | ) | ||||
| Interest expense: Other | (13,139 | ) | (13,139 | ) | ||||
| (Loss) gain on foreign currency exchange | (4 | ) | 1 | |||||
| Total Other (Expense) | (25,713 | ) | (25,708 | ) | ||||
| Income (Loss) Before Provision for Income Taxes | 20,095 | (38,514 | ) | |||||
| Provision for income taxes | - | - | ||||||
| Net Income (Loss) from continuing operations | 20,095 | (38,514 | ) | |||||
| Income (Loss) from discontinued operations, net of tax | 13 | (49 | ) | |||||
| Net Income (Loss) | 20,108 | (38,563 | ) | |||||
| Preferred stock dividends | (162,185 | ) | (162,185 | ) | ||||
| Net Loss Available to Common Stockholders | $ | (142,077 | ) | $ | (200,748 | ) | ||
| Other Comprehensive Income (Loss) | ||||||||
| Foreign Currency Translation Adjustment | - | - | ||||||
| Comprehensive Income (Loss) | $ | 20,108 | $ | (38,563 | ) | |||
| Income (Loss) Per Share - basic and diluted | ||||||||
| Loss from continuing operations | $ | (0.00 | ) | $ | (0.01 | ) | ||
| Income (Loss) from discontinued operations | $ | 0.00 | $ | (0.00 | ) | |||
| Loss available to common stockholders | $ | (0.00 | ) | $ | (0.01 | ) | ||
| Weighted Average Number of Shares Outstanding - Basic and Diluted | 33,372,796 | 33,372,796 | ||||||
VYCOR MEDICAL, INC.
Non-GAAP Reconciliation of Operating Loss and Net Loss
(unaudited)
| For the three months ended | ||||||||
| March 31, | ||||||||
| 2025 | 2024 | |||||||
| GAAP Operating Expenses | $ | 329,345 | $ | 371,340 | ||||
| Non-cash depreciation of purchased assets (1) | (13,980 | ) | (14,880 | ) | ||||
| Non-cash stock-based compensation (2) | - | (18,314 | ) | |||||
| Total Non-GAAP Operating Expense Adjustments | (13,980 | ) | (33,194 | ) | ||||
| Non GAAP Cash Operating Expenses | $ | 315,365 | $ | 338,146 | ||||
| GAAP Operating Profit (Loss) | $ | 45,808 | $ | (12,806 | ) | |||
| Non-GAAP Operating Expense Adjustments, as above | 13,980 | 33,194 | ||||||
| Non-GAAP Operating Profit | $ | 59,788 | $ | 20,388 | ||||
| GAAP Net Loss available to common shareholders | $ | (142,077 | ) | $ | (200,748 | ) | ||
| Non-GAAP Operating Expense Adjustments, as above | 13,980 | 33,194 | ||||||
| Non-GAAP Net Loss available to common stockholders | $ | (128,097 | ) | $ | (167,554 | ) | ||
| Non-GAAP Loss Per Share basic and diluted | $ | (0.00 | ) | $ | (0.01 | ) | ||
| Weighted Average Number of Shares Outstanding - Basic | 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.
Vycor Medical Inc. published this content on May 15, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on May 15, 2026 at 19:43 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]