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Picard Medical

PMI
19
Medical - Devices · Healthcare
Price
$0.09
+0.00 (+0.00%)
Market Cap
$137.1M
Exchange
New York Stock Exchange American
Winston Score
19
Winston is worried
Weak fundamentals across most pillars.
Data as of Jul 25, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+2.3% over 3y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 72.1M (2022) → 73.7M (2025)

I don't have reliable specific knowledge about Picard Medical, Inc. (ticker: PMI) as a distinct public company. The financial profile — micro-cap at $0.1B, very low gross margins of 15.2%, and a deeply negative operating margin of -256.8% — suggests an early-stage medical device company, but I cannot confidently describe its specific products, customers, or competitive position without risking inaccurate information.

To produce an accurate 2-paragraph description, I would need: - A brief description of what Picard Medical actually makes or does - Its primary customers or end markets (hospitals, clinics, consumers, etc.) - Its geographic focus - Any notable product approvals, partnerships, or milestones

If you can provide those details, I will write the full description immediately. Alternatively, if you have a company overview or filing excerpt, paste it here and I will turn it into the formatted output.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+85.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-13.6% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$3M/ year

Declining (-11% vs prior year)

60.7% of revenue

3.4x the sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

98.3%ownership

Insiders own a meaningful stake in the company

Cash Runway

~0 months

$121,000 cash & investments

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Picard Medical grew revenue 85% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin
23.9%
Thin — 23.9% gross margin
Operating Margin
-392.3%
Losing money on operations — -392.3%
ROCE
-320.2%
Weak — -320.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY
+80.7%
Fast-growing sales (80.7% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
0/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
-315.1%
Burning cash (-315.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
N/A
Data not available
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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