Vycor Medical, Inc. (OTCQB: VYCO) has released its financial results for the three and six months ended June 30, 2026, revealing a decrease in revenue but a notable increase in clinical evidence supporting its flagship neurosurgical device. The company operates through two divisions: Vycor Medical, which markets the ViewSite Brain Access System (VBAS), and NovaVision, which is developing vision rehabilitation therapies for patients with brain injuries.
For the second quarter of 2026, total revenue was $418,264, a 16% decline from $496,353 in the same period last year. The Vycor Medical division saw a 17% drop in revenue, primarily due to a decrease in international sales, which the company attributes to the lumpy nature of large international orders. In contrast, the NovaVision division, still in its developmental stage, reported a 17% increase in revenue to $17,040 for the quarter. For the first half of 2026, total revenue decreased 6% to $876,804, with Vycor Medical revenues down 7% and NovaVision up 8%.
Despite the revenue dip, the company's gross margin remained strong at 82% for both the quarter and the six-month period, consistent with the prior year. Operating profit for the three months was $6,851, down from $51,146 in 2025, while for the six months it increased to $52,659 from $38,340. On a non-GAAP basis, which excludes non-cash depreciation and stock-based compensation, operating profit for the quarter was $22,952, and for the six months it was $82,740.
A key highlight from the release is the publication of three new peer-reviewed studies on the ViewSite Brain Access System during 2026, bringing the total to 53 peer-reviewed papers and 14 additional clinical papers. One study focused on a complex pediatric tumor case, demonstrating the effectiveness of integrating neuro-navigation systems with VBAS as a paramount strategy for surgical resection. Another retrospective study of 23 patients compared VBAS to traditional blade retractors and found significantly fewer new neurological deficits at follow-up in the VBAS group, implying safer tumor resection. The most recent study involved 29 adults undergoing minimally invasive suboccipital tubular resection of posterior fossa metastases, concluding that this approach enables effective decompression with low cerebrospinal fluid diversion rates.
These studies add to the growing body of evidence supporting the clinical benefits of VBAS, which has been used in over 350 hospitals in the U.S. and internationally. The device is protected by 49 issued and 8 pending patents. The company believes that such evidence is crucial for driving adoption among neurosurgeons and improving patient outcomes. However, the company also faces challenges, including a net loss of $22,288 for the quarter and $164,365 for the six months, largely due to interest expenses and preferred stock dividends.
Looking ahead, Vycor Medical continues to focus on expanding its market presence, particularly in international markets where sales can be volatile. The company also sees potential in its NovaVision division, which offers FDA-cleared Visual Restoration Therapy, the only such therapy for vision rehabilitation after neurological damage. While the therapy has shown positive impacts, it still requires significant development to reach its full market potential.
Investors and industry observers will be watching to see if the accumulating clinical evidence translates into sustained revenue growth, especially as the company navigates the complexities of international sales and developmental costs.
