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Spectral Medical
Spectral Medical (EDT) investor relations material
Spectral Medical Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary26 Mar, 2026
Executive summary
Completed enrollment and released positive topline results for the Tigris trial, advancing PMX toward FDA Premarket Approval submission.
Achieved key milestones: Tigris manuscript published in The Lancet Respiratory Medicine and presented at SCCM Annual Congress.
Focused on high-quality PMA submission and building clinical/commercial foundation for PMX adoption.
Financial highlights
Q4 2025 revenue was $382,000, down from $645,000 in Q4 2024; full-year 2025 revenue rose 7% to $2,442,000 year-over-year.
Operating expenses for 2025 increased to $49,394,000 from $16,862,000 in 2024, mainly due to non-cash fair value adjustment of derivative liabilities.
Loss from continuing operations for 2025 was $47,689,000, up from $15,395,000 in 2024, driven by derivative liability adjustments and higher interest expense.
Ended 2025 with $4,071,000 in cash, up from $2,988,000 at end of 2024.
292,562,913 common shares outstanding as of December 31, 2025.
Outlook and guidance
PMA submission for PMX expected between late April and mid-May 2026, incorporating complete 12-month mortality data.
Topline 12-month mortality and outcome data anticipated in late May or early June 2026.
Commercialization planning ongoing with Vantive, aligning market readiness with potential FDA approval.
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Latest events from Spectral Medical
- Accelerated trial progress, revenue growth, and new funding set stage for late-2024 milestones.EDT
Q2 202421 Apr 2026 - Tigris trial nears completion amid supply chain delays; Q3 revenue up, but net loss widens.EDTQ3 202421 Apr 2026
- Tigris trial enrollment nearly complete; revenue up 43% as PMX commercialization advances.EDTQ4 202421 Apr 2026
- Positive Tigris trial results, revenue growth, and PMA submission for PMX targeted Q1 2026.EDTQ3 202520 Nov 2025
- Tigris trial enrollment completed, revenue up 73% year-over-year, and topline results imminent.EDTQ2 202518 Aug 2025
- Tigris trial enrollment completed; regulatory and commercialization milestones on track.EDTQ1 20256 Jun 2025
Next Spectral Medical earnings date
Q1 202612 May, 2026
Spectral Medical
Next Spectral Medical earnings date
Q1 202612 May, 2026
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