Vycor Medical, Inc. (OTCQB: VYCO) reported financial results for the three months ended March 31, 2026, showing a 5% increase in revenue to $458,540 compared to the same period in 2025. The growth was primarily driven by the Vycor Medical division, which produces the ViewSite™ Brain Access System (VBAS), with revenue of $440,441, up 5% from $418,520. The company attributed most of this increase to international expansion, a key strategic focus.
Gross profit for the VBAS division rose 5% to $359,040, maintaining a strong margin of 82%. The NovaVision division, which offers vision rehabilitation therapies for stroke and brain injury patients, generated $18,099 in revenue, slightly above the prior year's $17,858, with a gross margin of 89%.
On a GAAP basis, the company reported operating profit of $45,808, a significant improvement from an operating loss of $(12,806) in the first quarter of 2025. Non-GAAP operating profit, which excludes non-cash depreciation and stock-based compensation, was $59,788, up from $20,388 in the prior year. Non-GAAP cash operating expenses decreased to $315,365 from $338,146. Despite the operating profit, the company reported a net loss available to common stockholders of $(142,077) or $(0.00) per share, primarily due to preferred stock dividends of $162,185.
Vycor Medical also highlighted the publication of two new peer-reviewed studies on the VBAS system during the first quarter of 2026, bringing the total number of published peer-reviewed clinical papers to 52, with an additional 14 other clinical papers. One study focused on a complex pediatric tumor case, emphasizing the effectiveness of integrating neuro-navigation systems with VBAS as a paramount strategy for surgical resection. The second study, a retrospective analysis of 23 patients undergoing tumor resection, compared outcomes using VBAS with traditional blade retractors. The study reported significantly fewer new neurological deficits at follow-up for the tubular retractor group, suggesting safer tumor resection with VBAS.
The company continues to invest in its NovaVision division, which remains in development. NovaVision's Visual Restoration Therapy (VRT) is the only FDA-cleared therapy for vision rehabilitation following neurological brain damage, and its NeuroEyeCoach program has shown improvement in over 80% of patients in a large study. However, the division still requires significant development to realize its market potential.
Vycor Medical's balance sheet remains positioned for growth, with the company focusing on expanding its international footprint and building clinical evidence. The VBAS system is protected by 49 issued and 8 pending patents and has been validated through over 50 peer-reviewed studies. For more information, visit the company's website at www.vycormedical.com.
