Vycor Medical, Inc. (OTCQB: VYCO) announced its financial results for the three months ended March 31, 2026, reporting a 5% increase in revenue to $458,540 from $436,378 in the same period last year. The growth was driven primarily by the company's Vycor Medical division, which manufactures the ViewSite Brain Access System (VBAS) for neurosurgeons. International markets accounted for most of the increase, aligning with the company's strategic focus on global expansion.
On a GAAP basis, the company achieved an operating profit of $45,808, a significant improvement from an operating loss of $(12,806) in the first quarter of 2025. Non-GAAP operating profit more than doubled to $59,788 from $20,388, reflecting disciplined cost management and higher revenue. Gross profit for the Vycor Medical division rose 5% to $359,040, maintaining a strong margin of 82%.
CEO Peter M. C. de Haan commented, “We are pleased with our first quarter results, which reflect solid execution of our growth strategy. The positive clinical data continues to validate the benefits of VBAS, and we see growing adoption in international markets.” The company highlighted two new peer-reviewed studies published during 2026, bringing the total number of peer-reviewed clinical papers on VBAS to 52. One study focused on a complex pediatric tumor case, demonstrating that integrating neuro-navigation systems with VBAS is “a paramount strategy for the surgical resection” of such lesions. Another retrospective study compared outcomes in 23 patients undergoing tumor resection with VBAS versus traditional blade retractors, finding significantly fewer new neurological deficits at follow-up in the VBAS group, implying safer tumor resection.
Vycor’s NovaVision division, which offers vision rehabilitation therapies for stroke and brain injury patients, generated $18,099 in revenue, slightly up from $17,858 in the prior year period. Gross margin for NovaVision was 89%, down from 94%. Non-GAAP cash operating expenses decreased to $315,365 from $338,146 in the 2025 period, contributing to the improved profitability. The company reported a GAAP net loss available to common stockholders of $(142,077), or $(0.00) per share, compared to a net loss of $(200,748) in the first quarter of 2025. On a non-GAAP basis, net loss was $(128,097).
The VBAS system is FDA-cleared and has been used in over 350 hospitals in the U.S. and numerous international locations. The technology is protected by 49 issued and 8 pending patents. For more information, visit www.vycormedical.com.
