Vycor Medical, Inc. (OTCQB: VYCO) released its financial results for the three months ended March 31, 2026, showing a 5% increase in total revenue to $458,540 compared to $436,378 in the same period last year. The company operates two business units: Vycor Medical, 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 Vycor Medical division generated revenue of $440,441, up 5% from $418,520 in 2025, with most growth coming from international markets. NovaVision contributed $18,099 in revenue, slightly above the $17,858 reported in the prior year. Gross profit for the Vycor Medical division rose to $359,040, maintaining an 82% margin, while NovaVision's gross margin was 89%, down from 94%.
On a GAAP basis, the company reported 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, which excludes non-cash depreciation and stock-based compensation, was $59,788, up from $20,388. Non-GAAP cash operating expenses decreased to $315,365 from $338,146.
Despite the operating profit, the company reported a net loss available to common stockholders of $142,077, or $0.00 per share, compared to a loss of $200,748 in the prior year. The loss includes preferred stock dividends of $162,185. On a non-GAAP basis, the net loss was $128,097.
Vycor Medical highlighted that two new peer-reviewed studies on the VBAS were published in 2026, bringing the total to 52 peer-reviewed papers. One study focused on a complex pediatric tumor case, emphasizing the effectiveness of integrating neuro-navigation systems with VBAS. Another retrospective study of 23 patients undergoing tumor resection showed significantly fewer new neurological deficits at follow-up for patients using VBAS compared to traditional blade retractors.
The company's VBAS system is protected by 49 issued and 8 pending patents and has been used in over 350 hospitals in the U.S. and internationally. NovaVision's Visual Restoration Therapy (VRT) remains the only FDA-cleared therapy for vision rehabilitation following neurological brain damage.
Management uses non-GAAP financial measures to evaluate ongoing performance, excluding non-cash items such as depreciation and stock-based compensation. The company provided reconciliations of these measures in its earnings release.
For more information, visit www.vycormedical.com, www.vycorvbas.com, or www.novavision.com.
