Vycor Medical, Inc. (OTCQB: VYCO) announced financial results for the three months ended March 31, 2026, revealing a 5% increase in total revenue to $458,540 compared to $436,378 in the same period of 2025. The growth was primarily driven by the Vycor Medical division, which reported revenue of $440,441, up 5% from $418,520, with most gains coming from international markets—a key strategic focus for the company.
The company achieved an operating profit of $45,808, a significant improvement from an operating loss of $(12,806) in the prior year period. On a non-GAAP basis, operating profit rose to $59,788, up from $20,388, reflecting a $39,400 increase. Gross profit margins remained strong at 82% for the Vycor Medical division, while the NovaVision division, still in development, generated $18,099 in revenue with an 89% gross margin.
Vycor Medical operates two business units: the Vycor Medical division, which produces the ViewSite Brain Access System (VBAS) for neurosurgeons, and NovaVision, which offers vision rehabilitation therapies for patients recovering from stroke or brain injury. The VBAS system is FDA-cleared and used in over 350 hospitals in the U.S. and internationally. It is protected by 49 issued and 8 pending patents and has been validated through over 50 peer-reviewed studies.
During the first quarter of 2026, two new peer-reviewed studies were published on VBAS, bringing the total published clinical papers to 52, with an additional 14 other clinical papers. One case study highlighted the effectiveness of integrating neuro-navigation systems with VBAS for complex pediatric tumor cases, describing it as “a paramount strategy for the surgical resection” of such lesions. The second was a retrospective study of 23 patients undergoing tumor resection, comparing outcomes using VBAS with traditional blade retractors. The study found significantly fewer new neurological deficits at follow-up for the tubular retractor group, implying safer tumor resection.
On a GAAP basis, the company reported operating expenses of $329,345, resulting in an operating profit of $45,808. However, after accounting for preferred stock dividends of $162,185, the net loss available to common stockholders was $(142,077), or $(0.00) per share. Non-GAAP net loss available to common stockholders was $(128,097), or $(0.00) per share, after excluding non-cash depreciation of $13,980.
Management uses non-GAAP financial measures, which exclude non-cash depreciation and stock-based compensation, to evaluate ongoing performance. The company believes these measures provide investors with additional insight into core business operations. However, these non-GAAP measures should not be considered in isolation or as a substitute for GAAP figures.
The NovaVision division offers Visual Restoration Therapy (VRT), the only FDA-cleared therapy for vision rehabilitation after neurological brain damage, and NeuroEyeCoach, a program supported by a 296-patient study that showed improvement in over 80% of patients. While these therapies show positive impact, the division still requires significant development to reach its market potential.
Vycor Medical’s financial results underscore the growing adoption of its minimally invasive VBAS system, particularly in international markets, and the potential of its NovaVision therapies to address unmet needs in vision rehabilitation. The company’s focus on expanding its global footprint and building clinical evidence continues to strengthen its position in the neurosurgical and neurorehabilitation markets.
