Vycor Medical, Inc. (OTCQB: VYCO) announced financial results for the three and six months ended June 30, 2026, revealing a decrease in revenue but also highlighting significant clinical evidence supporting its flagship product, the ViewSite Brain Access System (VBAS). The company operates through two divisions: Vycor Medical, which manufactures the VBAS for neurosurgical procedures, and NovaVision, which is developing therapies for visual disorders resulting from stroke or brain injury.
For the second quarter of 2026, Vycor reported total revenue of $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 decline primarily attributed to international markets. The company noted that international sales can be lumpy, with large orders sometimes falling in different quarters. NovaVision, still in development, contributed $17,040, a 17% increase from $14,565. For the first half of 2026, total revenue was $876,804, a 6% decrease from $932,731, with Vycor Medical down 7% to $841,665 and NovaVision up 8% to $35,139.
Despite the revenue dip, the company highlighted three new peer-reviewed studies published in 2026, bringing the total to 53 peer-reviewed clinical papers on VBAS. One study focused on a complex pediatric tumor case, emphasizing the benefits of integrating neuro-navigation systems with VBAS as "a paramount strategy for the surgical resection" of such lesions. Another retrospective study compared outcomes of 23 patients undergoing tumor resection, finding that the tubular retractor group had significantly fewer new neurological deficits at follow-up compared to traditional blade retractors, implying safer tumor resection with VBAS. The most recent paper reported on a retrospective single-center study of 29 adults undergoing minimally invasive suboccipital tubular resection using VBAS for previously untreated posterior fossa metastases; the study concluded that this approach enables effective decompression of relatively large metastases with low cerebrospinal fluid diversion rates.
Financially, gross profit for Q2 2026 was $344,445, a 17% decrease from $415,271, with margins remaining strong at 82% versus 83%. Operating profit on a GAAP basis was $6,851, down from $51,146 in the prior year, while non-GAAP operating profit was $22,952 compared to $85,712. For the six months, GAAP operating profit increased to $52,659 from $38,340, and non-GAAP operating profit was $82,740 versus $106,100. The company attributed the non-GAAP adjustments to excluding non-cash depreciation and stock-based compensation.
Vycor Medical's VBAS is FDA-cleared and has been used in over 350 hospitals in the U.S. and internationally. It is protected by 49 issued and 8 pending patents. The company also operates NovaVision, which offers the only FDA-cleared therapy for vision rehabilitation after neurological damage, along with NeuroEyeCoach, a program supported by a 296-patient study showing improvement in over 80% of patients. However, NovaVision still requires significant development to reach its market potential.
The company's net loss for Q2 2026 was $22,288, compared to a net income of $23,887 in the prior year, primarily due to preferred stock dividends. For the six months, net loss available to common stockholders was $164,365 versus $176,861. Vycor's management believes that the growing body of clinical evidence for VBAS will support adoption and mitigate the impact of short-term revenue fluctuations. The company continues to focus on expanding its market presence and advancing its product pipeline.
