Catheter Precision Reports Revenue Growth but Increased Net Loss in Latest 10-Q Filing

Catheter Precision, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company generated revenues of $212,000 for the three months ended June 30, 2025, a substantial increase from $93,000 in the same period last year. For the first half of 2025, revenues reached $355,000, compared to $175,000 for the first half of 2024. Despite this growth in revenue, Catheter Precision recorded a net loss of $5.5 million for the quarter, up from a loss of $4.2 million in the prior year, and a total net loss of $9.5 million for the six months, compared to $6.9 million in the same period last year.

The company's operational metrics indicate a strategic shift, particularly with the introduction of its new product, LockeT, which contributed significantly to revenue growth. The VIVO System, another key product, experienced a decline in sales, primarily due to reduced sales efforts and changes in commercial leadership. The company has also expanded its customer base, with over 30 physicians utilizing the VIVO System in more than 1,000 procedures across the U.S. and EU. As of June 30, 2025, Catheter Precision had 21 employees, an increase from 15 a year earlier, reflecting its efforts to bolster its operational capabilities.

In terms of strategic developments, Catheter Precision has made notable acquisitions, including the purchase of assets related to the Cardiac Pulmonary Nerve Stimulation (CPNS) System through its subsidiary, Cardionomix, and the acquisition of PeriKard, LLC, which brought in patented technology for pericardial access. These acquisitions are expected to enhance the company's product offerings in the cardiac treatment space. Additionally, the company formed a new subsidiary, KardioNav, to focus on the development of electrophysiology mapping technologies.

Financially, Catheter Precision's total assets decreased to $25.6 million as of June 30, 2025, down from $27.8 million at the end of 2024. The company's cash and cash equivalents also fell to $838,000 from $2.9 million. Current liabilities increased significantly to $4.6 million, compared to $2.2 million at the end of 2024, largely due to increased accounts payable and accrued expenses. The company has indicated that it will need to raise additional capital to support its operations and continue its growth trajectory, as it anticipates ongoing operating losses and negative cash flows.

Looking ahead, Catheter Precision's management has expressed concerns about its ability to continue as a going concern, given its current cash position and the need for additional financing. The company plans to explore various funding options, including public or private equity and debt financing, to meet its operational needs. The outlook remains cautious, with management acknowledging the potential for continued losses until revenues can sufficiently cover operating expenses.