Conavi Medical (CNVI) Q1 2026 earnings summary

Executive summary

• Closed a $12M public equity offering to support FDA clearance efforts and U.S. market launch preparation.

• Published peer-reviewed research demonstrating clinical advantages of hybrid IVUS-OCT imaging technology.

• Terminated a longstanding $270,000 loan agreement, settling via share issuance.

Financial highlights

• Fiscal Q1 2026 revenue was $0.2M, down from $8.6M in the prior-year period due to non-recurring milestone revenue.

• Operating expenses decreased to $5.4M from $6.8M year-over-year, reflecting reduced R&D spending.

• Operating loss was $5.1M, compared to $0.3M in the prior-year period.

• Net loss for Q1 2026 was $2.7M ($0.04/share), improved from $7.0M ($0.18/share) in Q1 2025.

• Cash and equivalents stood at $1.0M as of December 31, 2025, with $12M raised post-quarter-end.

Outlook and guidance

• Anticipates U.S. FDA 510(k) clearance for Novasight Hybrid system in the first half of 2026.

• Targeted U.S. market release of Novasight 3.0 expected in Q3 2026.