Conavi Medical (CNVI) Q3 2026 earnings summary

Executive summary

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

• Closed a $10 million public offering to support U.S. market launch and working capital.

• Received $1.25 million milestone payment from Ontario Life Sciences Scale-Up Fund following FDA clearance.

• Published new clinical evidence supporting hybrid IVUS-OCT imaging in complex coronary procedures.

Financial highlights

• Net loss for Fiscal Q3 2026 was $6.3 million, up from $3.6 million in Q3 2025, reflecting increased R&D investment.

• Nine-month net loss was $13.8 million, nearly flat year-over-year.

• Licensing and R&D services revenue for Q3 2026 was $0.1 million, unchanged year-over-year.

• Total revenue for the nine months ended June 30, 2026, was $0.5 million, down from $8.8 million due to non-recurring milestone revenue in the prior year.

• Cash and cash equivalents were $0.9 million at quarter end, with $10 million raised post-quarter.

Outlook and guidance

• Focused on completing production transfer, building inventory, and initiating targeted U.S. market release in H2 2026.

• Plans to continue building clinical evidence to support adoption of hybrid IVUS-OCT imaging.