Vycor Medical, Inc. (OTCQB: VYCO) has announced its financial results for the three and six months ended June 30, 2026, revealing a decrease in revenues but also highlighting new clinical evidence that could bolster its market position. The company, which operates through its Vycor Medical division (producer of the ViewSite Brain Access System) and NovaVision (a vision rehabilitation therapy developer), saw total revenues for the second quarter fall 16% to $418,264, down from $496,353 in the same period last year. For the first half of 2026, revenues decreased 6% to $876,804 from $932,731.
The decline was primarily attributed to the Vycor Medical division, where international sales were notably weaker. Revenues from this division dropped 17% in the quarter and 7% in the six-month period. Management noted that international sales can be lumpy, with large orders sometimes falling in different quarters. Despite the revenue dip, the company maintained a robust gross margin of 82% for both periods, consistent with the prior year.
On a GAAP basis, the company reported an operating profit of $6,851 for the quarter, compared to $51,146 in the 2025 period, and $52,659 for the six months, up from $38,340. Non-GAAP operating profit, which excludes non-cash depreciation and stock-based compensation, was $22,952 for the quarter and $82,740 for the six months, down from $85,712 and $106,100, respectively.
The NovaVision division, still in development, generated revenues of $17,040 in the quarter (up 17%) and $35,139 in the six months (up 8%), showing steady progress.
Significantly, during 2026, three new peer-reviewed studies were published on the ViewSite Brain Access System, bringing the total to 53 peer-reviewed papers and 14 other clinical papers. The studies provide compelling evidence for the system's benefits. One case study highlighted the effectiveness of combining neuro-navigation with VBAS in a complex pediatric tumor resection. Another retrospective study of 23 patients compared VBAS with traditional blade retractors, finding significantly fewer new neurological deficits at follow-up for the tubular retractor group, implying safer tumor resection. A third study on 29 adults undergoing minimally invasive suboccipital resection of posterior fossa metastases concluded that VBAS enables effective decompression with low cerebrospinal fluid diversion rates.
These publications are crucial as they strengthen the clinical rationale for VBAS, potentially driving adoption among neurosurgeons and influencing hospital purchasing decisions. The company's focus on evidence-based medicine is a key strategy to differentiate its product in a competitive market.
Vycor Medical also highlighted its intellectual property portfolio, with 49 issued and 8 pending patents protecting VBAS, which has been used in over 350 U.S. hospitals and internationally. The company's commitment to innovation is further underscored by its ongoing development of NovaVision's therapies, which include the only FDA-cleared vision rehabilitation therapy for neurological damage.
Despite the short-term revenue challenges, the accumulation of positive clinical data positions Vycor Medical for potential long-term growth. The company's ability to translate this evidence into sales will be critical as it navigates the complexities of the medical device market. Investors will be watching closely to see if the clinical momentum translates into improved financial performance in the coming quarters.
