Picard Medical, Inc. reported an 85% year-over-year increase in revenue and an improved gross margin of 28% from year-end 2025, driven by a 116% increase in U.S. revenue. The company, parent of SynCardia Systems, LLC, released the details in a pre-recorded presentation ahead of its 2026 Annual Meeting of Stockholders scheduled for July 17, 2026. The presentation outlines business performance, product development progress, and manufacturing initiatives.

Richard Fang, Ph.D., Interim Chief Executive Officer and Chairman of the Board, highlighted the company's commitment to advancing a fully implantable total artificial heart while supporting current technologies. He noted strong first-quarter financial performance and continued innovation in the next-generation Emperor platform.

Financial and Operational Highlights

The company emphasized steady financial milestones and ongoing manufacturing optimization initiatives aimed at strengthening quality control, improving supply chain resilience, and reducing production costs.

Emperor Platform Development

Picard Medical provided an update on its Emperor platform, which builds on the SynCardia Total Artificial Heart architecture. The Emperor Drive System is a new electromechanical actuation platform designed to eliminate the external pneumatic driver used with current products. The initial configuration retains an external controller and battery, with a roadmap toward a fully implantable system using wireless power transfer.

Development milestones include the pursuit of FDA Breakthrough Device designation, continued preclinical studies, and a planned Investigational Device Exemption submission in 2028. The company intends to begin clinical study activities in 2029, with the scope and design determined in consultation with the FDA.

2026 Annual Meeting Details

The 2026 Annual Meeting of Stockholders will be held virtually on July 17, 2026, at 6:00 p.m. Eastern Time. Proposals to be considered include the election of directors, amendments to the capital structure, ratification of the independent registered public accounting firm, and advisory votes on executive compensation. Stockholders of record as of the applicable record date are eligible to vote by internet, telephone, or during the virtual meeting.

Kuehn Law, PLLC is investigating whether certain officers and directors of Picard Medical, Inc. breached their fiduciary duties to shareholders amid allegations of a fraudulent stock promotion scheme. The law firm's inquiry follows a federal securities lawsuit claiming the company misrepresented material facts regarding its stock trading activities and risk disclosures. The investigation centers on potential violations that could impact investors who acquired shares before September 2, 2025.

According to the lawsuit, Picard Medical was the subject of a fraudulent stock promotion scheme that utilized social media-based misinformation and impersonated financial professionals. The complaint alleges that insiders and affiliates used offshore or nominee accounts to facilitate the coordinated dumping of shares during a campaign to inflate the stock price. Furthermore, the company is accused of omitting any mention of the false rumors and artificial trading activity driving the stock price in its public statements and risk disclosures.

The allegations highlight significant gaps in corporate governance and transparency, raising concerns about the integrity of the financial reporting provided to investors. The failure to disclose the artificial nature of the trading activity and the involvement of insiders in share dumping are central to the claims of fiduciary breach.

Kuehn Law is urging shareholders who currently own PMI and purchased shares prior to September 2, 2025, to come forward. The firm emphasizes that it pays all case costs and does not charge its investor clients. Shareholders are advised to contact the firm immediately to enforce their rights, as there may be limited time to do so.

Contact Information

Investors wishing to participate in the investigation or seek further information can contact Sophia Anne Silayan via email at sophiaanne@kuehn.law or by calling (833) 672-0814. Additional details are available on the Kuehn Law website regarding the shareholder derivative litigation.