Vycor Medical, Inc. (OTCQB: VYCO) reported financial results for the three and six months ended June 30, 2026, revealing a mixed performance: while revenues declined, the company continues to strengthen its clinical evidence base for its flagship ViewSite Brain Access System (VBAS), which could support future growth.
For the second quarter, total revenue decreased 16% to $418,264, compared to $496,353 in the same period last year. The Vycor Medical division, which markets VBAS, saw revenue fall 17% to $401,224, with the decrease attributed to international markets. The NovaVision division, still in development, generated $17,040, up 17% year-over-year. Gross profit for the quarter was $327,225 for Vycor Medical, a 19% decline, but maintained a strong margin of 82%.
On a six-month basis, total revenue was $876,804, down 6% from $932,731 in 2025. Vycor Medical revenue decreased 7% to $841,665, with the decline split equally between US and international markets. Gross profit for the six months was $686,265, down 8%, with margin at 82%. NovaVision revenue rose 8% to $35,139.
Operating profit for the quarter was $6,851, down from $51,146 in the prior year period, while for the six months it improved to $52,659 from $38,340. On a non-GAAP basis, which excludes non-cash depreciation and stock-based compensation, operating profit for the quarter was $22,952 versus $85,712 in 2025, and for the six months it was $82,740 versus $106,100. The company reported a net loss available to common stockholders of $22,288 for the quarter and $164,365 for the six months.
Despite the revenue headwinds, the company highlighted significant advancements in clinical research for VBAS. During 2026 to date, three new peer-reviewed studies were published, bringing the total to 53 peer-reviewed clinical papers, with an additional 14 other clinical papers. These studies underscore the safety and efficacy of the device. One case study focused on a complex pediatric tumor, emphasizing that integrating neuro-navigation with VBAS is “a paramount strategy” for surgical resection. A retrospective study of 23 patients compared VBAS to traditional blade retractors, finding significantly fewer new neurological deficits at follow-up for the tubular retractor group. Another study on posterior fossa metastases concluded that minimally invasive tubular resection using VBAS enables effective decompression with low cerebrospinal fluid diversion rates.
These publications are critical for Vycor as they provide clinical evidence that could drive adoption among neurosurgeons, potentially offsetting the current international sales volatility. The company operates through two business units: Vycor Medical, which produces the ViewSite Brain Access System, and NovaVision, which offers vision rehabilitation therapies. NovaVision’s Visual Restoration Therapy is the only FDA-cleared therapy for vision rehabilitation after neurological damage, and its NeuroEyeCoach program has shown improvement in over 80% of patients in a 296-patient study.
Management noted that international sales can be lumpy, with large orders sometimes falling in different quarters, explaining the revenue fluctuations. The company remains focused on expanding its market presence and leveraging its growing clinical evidence to enhance sales.
