Vycor Medical, Inc. (OTCQB: VYCO) reported financial results for the second quarter and first half of 2026, revealing a decline in revenue largely attributed to international market fluctuations, while highlighting new clinical evidence supporting its core product, the ViewSite Brain Access System (VBAS).
For the three months ended June 30, 2026, the company posted total revenue of $418,264, a 16% decrease from $496,353 in the same period last year. The Vycor Medical division, which sells VBAS, generated $401,224, down 17% year-over-year, with most of the decline coming from international markets. The company noted that international sales can be lumpy, with large orders sometimes falling in different quarters. For the six-month period, total revenue decreased 6% to $876,804, with VBAS revenue down 7% to $841,665, split equally between U.S. and international markets.
Despite the revenue dip, the company reported operating profit of $6,851 for the quarter, down from $51,146 in the prior-year period, but an improvement for the six months, with operating profit rising to $52,659 from $38,340. On a non-GAAP basis, which excludes non-cash items like depreciation and stock-based compensation, operating profit for the quarter was $22,952 versus $85,712, and for the six months it was $82,740 compared to $106,100. The NovaVision division, which is still in development, saw revenue increase 17% to $17,040 for the quarter and 8% to $35,139 for the six months.
Importantly, Vycor announced that three new peer-reviewed studies on VBAS were published in 2026, bringing the total to 53 peer-reviewed papers and 14 other clinical papers. One study focused on a complex pediatric tumor case, highlighting the effectiveness of integrating neuro-navigation systems with VBAS as “a paramount strategy for the surgical resection” of such lesions. Another retrospective study of 23 patients compared VBAS to traditional blade retractors and found significantly fewer new neurological deficits at follow-up for the tubular retractor group, implying safer tumor resection. The most recent paper, a single-center study of 29 adults, concluded that minimally invasive suboccipital tubular resection using VBAS enables effective decompression of relatively large posterior fossa metastases with low cerebrospinal fluid diversion rates.
These findings are critical as they provide clinical validation for VBAS, a device designed to improve access to brain lesions while reducing tissue damage. With over 350 hospitals in the U.S. and numerous international facilities using VBAS, the growing body of evidence could drive adoption and potentially offset revenue volatility. The company also noted that VBAS is protected by 49 issued and 8 pending patents.
The financial results reflect ongoing challenges in international markets, but the clinical data may strengthen the company's position for future growth. Investors and healthcare providers will be watching to see if the evidence translates into sustained revenue growth. Vycor Medical's management believes that non-GAAP measures provide additional insight into core operations, but they caution that these should be considered alongside GAAP figures.
