Vycor Medical, Inc. (OTCQB: VYCO) reported financial results for the three and six months ended June 30, 2026, revealing a decline in revenue but also highlighting significant clinical advancements for its ViewSite Brain Access System (VBAS). The company operates through two business units: Vycor Medical, which produces the VBAS for neurosurgeons, and NovaVision, which offers vision rehabilitation therapies for stroke and brain injury patients.
For the second quarter of 2026, total revenue was $418,264, a 16% decrease from $496,353 in the same period last year. The Vycor Medical division generated $401,224, down 17% from $481,788, with the decrease attributed to international markets. NovaVision, still in development, contributed $17,040, a 17% increase from $14,565. Gross profit for the quarter was $344,445, down 19%, maintaining a margin of 82% versus 83% in 2025.
For the first six months of 2026, revenue totaled $876,804, a 6% decrease from $932,731 in the prior year. Vycor Medical revenues were $841,665, down 7% from $900,308, with the decline equally split between U.S. and international markets. NovaVision generated $35,139, an 8% increase. Gross profit for the six months was $719,598, down 8% from $773,805, with margins at 82% and 83%, respectively.
Operating profit for the second quarter was $6,851 compared to $51,146 in 2025, while for the six months it was $52,659 versus $38,340. On a non-GAAP basis, which excludes non-cash depreciation and stock-based compensation, operating profit was $22,952 for the quarter and $82,740 for the six months, down from $85,712 and $106,100 in the prior year periods. The company reported a net loss available to common stockholders of $22,288 for the quarter and $164,365 for the six months, compared to a net income of $23,887 and a net loss of $176,861 in 2025.
Despite the financial downturn, Vycor emphasized scientific progress. Three new peer-reviewed studies on VBAS were published in 2026, bringing the total to 53 peer-reviewed clinical papers. One study highlighted the effectiveness of integrating neuro-navigation systems with VBAS in a complex pediatric tumor case. Another retrospective study of 23 patients found that VBAS surgery resulted in significantly fewer new neurological deficits compared to traditional blade retractors. The most recent study on 29 adults undergoing minimally invasive suboccipital tubular resection for posterior fossa metastases concluded that VBAS enables effective decompression with low cerebrospinal fluid diversion rates.
These clinical validations are crucial as VBAS continues to gain adoption. The system is FDA-cleared and used in over 350 U.S. hospitals and internationally, protected by 49 issued and 8 pending patents. NovaVision's Visual Restoration Therapy (VRT) remains the only FDA-cleared therapy for vision rehabilitation after neurological damage, with a 296-patient study showing improvement in over 80% of patients.
Management noted that international sales can be lumpy, with large orders sometimes falling in different quarters. The company continues to focus on expanding its market presence while investing in clinical evidence to support the safety and efficacy of its products.
