Conavi Medical (CNVI) Q2 2026 earnings summary

Executive summary

• Achieved U.S. FDA 510(k) clearance for next-generation hybrid IVUS-OCT imaging system, enabling U.S. commercial launch in H2 2026.

• Received multiple industry awards for innovation and leadership in intravascular imaging technology.

• Advanced commercial readiness with manufacturing scale-up, inventory build, and physician training initiatives.

• Announced proposed public offering to support U.S. launch and working capital.

Financial highlights

• Fiscal Q2 2026 licensing and R&D services revenue was $0.1 million, unchanged from prior-year period.

• Six-month revenue was $0.3 million, down from $8.7 million year-over-year due to non-recurring milestone revenue in prior year.

• Operating expenses for Fiscal Q2 2026 were $4.7 million, down from $5.6 million in Q2 2025, reflecting lower R&D costs.

• Net loss for Fiscal Q2 2026 was $4.8 million, compared to $3.1 million in the prior-year period.

• Cash and cash equivalents were $4.5 million as of March 31, 2026, compared to $5.8 million as of September 30, 2025.

Outlook and guidance

• Focused on executing commercialization strategy, including manufacturing scale-up and targeted U.S. market release in H2 2026.

• Proceeds from proposed public offering intended to fund U.S. launch, working capital, and general corporate purposes.

• Management anticipates continued growth in clinical validation and physician adoption of hybrid imaging technology.