Perimeter Medical Imaging AI (PINK) Q2 2026 earnings summary

Executive summary

• Achieved first commercial placements and deployments of the Claire AI-enabled OCT device following FDA approval in March 2026, marking a pivotal commercialization milestone, with initial deployments at major cancer centers and Intermountain Health as the first U.S. health system to use Claire for real-time margin assessment in breast-conserving surgeries.

• Claire OCT was formally unveiled at a major industry meeting and received its first two commercial placements in top-tier hospitals.

• Recurring revenue growth driven by legacy S-Series OCT, with a strong sales funnel and ongoing conversions to Claire.

• Focused on expanding the sales team and targeting both existing and new customers, especially in key metropolitan hubs.

Financial highlights

• Q2 2026 revenue was $503,000, entirely from recurring sources, representing 31% sequential growth over Q1 2026 and essentially unchanged from Q1 2025.

• Operating expenses for Q2 2026 were $3.1 million, down 28% year-over-year.

• Net loss for Q2 2026 was $2.6 million ($0.02 per share), a 33% improvement year-over-year.

• Cash used in operating activities for the first six months was $5.1 million, a 23% decrease year-over-year; cash balance at June 30, 2026, was $6.4 million.

Outlook and guidance

• Anticipates rapid revenue growth as Claire adoption accelerates, with 2027 revenues expected to be materially higher than 2026.

• Operating expenses projected to grow modestly for the remainder of 2026, with focus on sales and marketing investment.

• Sales team expansion expected to drive revenue acceleration toward year-end and into 2027.

• 12-month cash runway projected following recent capital raise.

• Preliminary results are subject to customary financial statement procedures and may differ from final audited results.