Catheter Precision (VTAK) Q1 2026 earnings summary

Executive summary

• Completed acquisition of FLYTE, expanding operations into private aviation alongside the cardiac electrophysiology segment, now operating two segments: cardiac electrophysiology (VIVO System, LockeT device) and private aviation charter services.

• Achieved 200% year-over-year revenue growth in Q1 2026, reaching $432,000, driven by both medical device and aviation segments.

• Net loss reduced significantly to $1.7 million from $4.0 million in Q1 2025, reflecting improved operating discipline.

• FLYTE acquisition included 100% of FLYTE and Ponderosa Air, LLC, with integration underway and immediate revenue traction.

Financial highlights

• Q1 2026 net loss was $1.7 million, improved from $4.0 million net loss in Q1 2025, including $560,000 in non-cash expenses.

• Total revenues increased to $432,000 from $143,000 year-over-year, driven by higher product sales and new aviation service revenue, a 200% increase.

• Product revenue rose to $248,000 (from $143,000), service revenue to $184,000 (from $0).

• Gross profit was $390,000, up from $132,000 year-over-year.

• Cash and cash equivalents at March 31, 2026 were $0.4 million; accumulated deficit reached $311.2 million.

Outlook and guidance

• Management expects continued operating losses and negative cash flows for the foreseeable future.

• Additional capital will be required within the next 12 months to support operations, service debt, and fund growth.

• Positioned to capitalize on high-demand Northeast summer travel routes and expand into international markets such as Toronto and the Bahamas.

• Substantial doubt exists about the ability to continue as a going concern without new financing.

• Continued focus on scaling revenue and improving operating leverage across both business segments.