Vycor Medical, Inc. (OTCQB: VYCO) reported financial results for the three and six months ended June 30, 2026, revealing a mixed performance. While the company experienced a decrease in overall revenue, it highlighted significant clinical advancements for its ViewSite™ Brain Access System (VBAS) that could bolster its market position in the neurosurgical device space.
For the three months ended June 30, 2026, Vycor Medical reported revenue of $418,264, a 16% decrease from the $496,353 reported in the same period of 2025. The Vycor Medical division, which produces the VBAS, generated $401,224 in revenue, down 17% from $481,788 in the prior-year period. The company attributed the decline primarily to international markets, which can be lumpy due to the timing of large orders. The NovaVision division, which offers vision rehabilitation therapies, generated $17,040 in revenue, a 17% increase from $14,565 in the 2025 period.
For the six months ended June 30, 2026, total revenue was $876,804, a 6% decrease from $932,731 in the prior-year period. The Vycor Medical division saw a 7% decline to $841,665, with the decrease equally split between US and international markets. NovaVision revenue increased by 8% to $35,139.
Gross profit for the second quarter was $344,445, down from $415,271 in 2025, with a gross margin of 82% compared to 83% in the prior-year period. Operating profit on a GAAP basis was $6,851, a significant drop from $51,146 in the second quarter of 2025. On a non-GAAP basis, which excludes non-cash depreciation and stock-based compensation, operating profit was $22,952 versus $85,712 in the same period last year.
Despite the financial downturn, the company emphasized the publication of three new peer-reviewed studies on VBAS during 2026, bringing the total to 53 peer-reviewed clinical papers. One study, a case report on a complex pediatric tumor, highlighted the effectiveness of integrating neuro-navigation systems with VBAS, calling it “a paramount strategy for the surgical resection” of such lesions. Another retrospective study of 23 patients undergoing tumor resection found that patients treated with VBAS had significantly fewer new neurological deficits at follow-up compared to those treated with traditional blade retractors, implying safer tumor resection. A third study on 29 consecutive adults undergoing minimally invasive suboccipital tubular resection for posterior fossa metastases concluded that this approach enables effective decompression with low cerebrospinal fluid diversion rates.
These clinical validations are crucial for Vycor Medical as it seeks to expand the adoption of VBAS, which is FDA-cleared and used in over 350 US hospitals and internationally. The system is protected by 49 issued and 8 pending patents. The growing body of evidence could help differentiate VBAS in a competitive market and drive future revenue growth, offsetting the current international sales volatility.
Management uses non-GAAP measures to evaluate performance, excluding non-cash items like depreciation and stock-based compensation. For the six months, non-GAAP operating profit was $82,740, down from $106,100 in 2025, reflecting the revenue decline. The company continues to invest in NovaVision, which remains in development but shows promise with its FDA-cleared Visual Restoration Therapy, the only commercialized therapy for vision rehabilitation after neurological damage.
Vycor Medical's results underscore the challenges of navigating international markets, but the strong clinical evidence for VBAS positions the company for potential long-term growth as surgeons increasingly adopt minimally invasive techniques.
