Catheter Precision, Inc. reported its financial results for the third quarter of 2025, revealing a significant increase in revenue compared to the same period last year. The company generated $226,000 in revenue for the three months ended September 30, 2025, up from $96,000 in the prior year, marking a 135% increase. For the nine-month period, revenues rose to $581,000 from $271,000, reflecting a 114% increase. Despite this growth, the company continues to face challenges, posting a net loss of $2.3 million for the quarter and $11.8 million for the nine months, compared to losses of $4.1 million and $11 million, respectively, in the prior year.
The financial performance was influenced by increased sales of the LockeT device, which contributed significantly to revenue growth. The company reported that LockeT sales increased by $322,000 for the nine-month period, driven by successful sales efforts and long-term contracts with hospitals. However, sales of the VIVO System declined slightly, attributed to reduced sales efforts and changes in commercial leadership. The company’s total operating expenses for the quarter were $3.2 million, up from $2.9 million in the same period last year, primarily due to increased selling, general, and administrative expenses.
In terms of strategic developments, Catheter Precision has been active in expanding its product offerings and market presence. The company launched the LockeT device in May 2024 and received CE Mark approval for it in April 2025, allowing for sales in the European Union and other regions. Additionally, the company formed two new subsidiaries, Cardionomix and KardioNav, to focus on developing new technologies in cardiac treatment. Cardionomix acquired assets related to the Cardiac Pulmonary Nerve Stimulation System, while KardioNav aims to enhance electrophysiology mapping technologies.
Operationally, Catheter Precision has seen a rise in customer engagement, with over 30 physicians utilizing the VIVO System in more than 1,000 procedures. The company has also expanded its distribution agreements in Europe and other regions, which is expected to enhance product adoption rates. However, as of September 30, 2025, the company reported a working capital deficit of $2.9 million and cash and cash equivalents of $1.1 million, raising concerns about its liquidity and ability to sustain operations without additional financing.
Looking ahead, Catheter Precision's management has expressed concerns about the company's ability to continue as a going concern, citing the need for additional capital to fund operations and meet obligations. The company is exploring various financing options, including private equity offerings and potential strategic transactions. However, there is substantial uncertainty regarding the timing and success of these efforts, which could impact the company's future operations and financial stability.
About Catheter Precision, Inc.
Catheter Precision, Inc. designs and markets innovative medical devices for cardiac electrophysiology, focusing on non-invasive mapping systems like VIVO and wound closure devices like LockeT. Its products improve diagnosis, treatment outcomes, and procedural efficiency for arrhythmia ablation. Serving hospitals and clinicians worldwide, the company emphasizes regulatory compliance, proprietary technology, and strategic product development within the highly competitive medical device industry.
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