Catheter Precision Reports 202% Revenue Growth to $432,000 in Latest Quarter

Catheter Precision, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending March 31, 2026. The company generated total revenues of $432,000, a substantial increase from $143,000 in the same period last year, marking a growth of 202%. This increase was driven by product revenues of $248,000, up from $143,000, and the introduction of service revenues amounting to $184,000, attributed to the recent acquisition of Fly Flyte, Inc. (FLYTE). The gross profit for the quarter was $390,000, compared to $132,000 in the prior year, reflecting improved operational efficiency.

In terms of expenses, Catheter Precision reported a decrease in selling, general, and administrative expenses, which fell to $2.6 million from $3.5 million year-over-year. This reduction was primarily due to lower salaries and benefits, as well as decreased investor relations and professional fees. Research and development expenses also increased slightly to $149,000 from $103,000, reflecting ongoing investments in product development. The company recorded a net loss of $1.7 million for the quarter, a notable improvement from the $4.0 million loss reported in the same quarter of 2025.

Strategically, Catheter Precision has made significant moves, including the acquisition of FLYTE, which has expanded its operational scope into private aviation. The acquisition was completed in March 2026, and the company now operates under two reportable segments: cardiac electrophysiology and private aviation. The FLYTE acquisition is expected to enhance revenue streams and operational capabilities, with the company planning to leverage its technology to improve private air travel services.

Operationally, the company has seen increased engagement with its products. The VIVO System, a key offering in the cardiac electrophysiology segment, has been utilized in over 1,000 procedures, while the LockeT device has begun to gain traction in the market, with initial sales contributing to revenue growth. The company has also expanded its geographic reach, particularly in Europe, where it has established distribution agreements for its products.

Looking ahead, Catheter Precision anticipates continued 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 ensure it can meet its financial obligations and sustain its business operations. As of March 31, 2026, the company had cash and cash equivalents of $441,000, which it acknowledges may not be sufficient to fund its operations for the next twelve months without securing additional financing.