Catheter Precision, Inc. reported a significant increase in revenue for the fiscal year ending December 31, 2025, achieving $819,000, compared to $420,000 in the previous year, marking a growth of approximately 95%. This increase was primarily driven by sales of the LockeT device, which saw a rise of $408,000, while revenue from the VIVO System experienced a slight decline of $12,000. The company continues to operate at a loss, with a net loss of $17.7 million for the year, contributing to an accumulated deficit of approximately $309.5 million.
The company underwent a strategic transformation following its merger with Old Catheter in January 2023, shifting its focus to cardiac electrophysiology products. This included the launch of the VIVO System, a non-invasive imaging tool for cardiac mapping, which has been utilized in over 1,000 procedures across 11 countries. The LockeT device, a suture retention product, received FDA registration in February 2023 and CE Mark approval in April 2025, allowing for international distribution. The company has also formed subsidiaries, including Cardionomix and KardioNav, to expand its product offerings and enhance its market position.
Operationally, Catheter Precision has seen a notable increase in its workforce, with 17 employees as of March 2026, reflecting a strategic investment in its sales and marketing capabilities. The company has established long-term contracts with several hospitals for the LockeT device, which is expected to enhance customer retention and drive future sales. However, the company faces challenges in the competitive medical device market, where it competes against larger firms with more resources.
The financial outlook for Catheter Precision remains uncertain, as the company anticipates continued operating losses and negative cash flows. As of March 18, 2026, the company reported cash and cash equivalents of approximately $548,000, which is insufficient to meet its operational needs for the remainder of the year. The company is actively exploring various financing options, including private equity offerings and strategic partnerships, to secure the necessary capital for ongoing operations and product development. The management has expressed substantial doubt about the company's ability to continue as a going concern without additional funding.
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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