Catheter Precision Reports Revenue Growth to $1.019 Million, Net Loss Improves in Latest Quarter

Catheter Precision, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2026. The company generated total revenues of $1.019 million for the quarter, a substantial increase from $212,000 in the same period last year. This growth was driven by a notable rise in service revenue, which amounted to $749,000, attributed to the acquisition of Fly Flyte, Inc. (FLYTE). Product revenue also saw an increase, reaching $270,000, up from $212,000, primarily due to higher sales of the LockeT device, which rose by $75,000, despite a slight decline in VIVO System sales.

In terms of profitability, Catheter Precision reported a net loss of $3.306 million for the quarter, an improvement compared to a net loss of $5.458 million in the prior year. The company’s accumulated deficit as of June 30, 2026, stood at $314.5 million, reflecting ongoing challenges in achieving profitability. Operating expenses for the quarter totaled $4.053 million, slightly down from $4.884 million a year earlier, with selling, general, and administrative expenses increasing due to higher professional fees related to the FLYTE acquisition.

Strategically, Catheter Precision completed the acquisition of FLYTE in March 2026, which has since been integrated into its operations, creating two reportable segments: cardiac electrophysiology and private aviation. The acquisition included the issuance of 11,028 shares of Series D Convertible Preferred Stock and a promissory note of $5 million. This move is expected to enhance the company’s market presence in both medical technology and private aviation sectors. The FLYTE acquisition has already contributed to increased customer engagement, with the VIVO System being utilized in over 2,000 procedures across the U.S. and Europe.

Operationally, the company reported a total of 30 physicians using the VIVO System, with sales expanding into 16 countries following the CE Mark approval for the LockeT device. The company’s workforce has also seen changes, with a reduction in headcount contributing to lower salary expenses. As of June 30, 2026, Catheter Precision had cash and cash equivalents of $643,000, a significant increase from $88,000 at the end of 2025, although the company continues to face liquidity challenges.

Looking ahead, Catheter Precision anticipates ongoing operating losses and negative cash flows, necessitating additional capital to support its operations and growth initiatives. The company is actively exploring various financing options, including equity and debt offerings, to address its liquidity needs. Management has expressed concerns about the ability to continue as a going concern, emphasizing the need for strategic financial planning to navigate the upcoming fiscal challenges.