Vycor Medical, Inc. (OTCQB: VYCO) reported financial results for the three and six months ended June 30, 2026, revealing a mixed performance as the company continues to invest in its NovaVision division and sees a temporary decline in international sales. The company, which operates through two business units—Vycor Medical, producing the ViewSite Brain Access System (VBAS) for neurosurgeons, and NovaVision, offering vision rehabilitation therapies—announced revenues of $418,264 for the second quarter, a 16% decrease from the prior-year period. The decline was primarily attributed to a 17% drop in the Vycor Medical division's revenue, with most of the decrease coming from international markets. For the first half of the year, total revenue was $876,804, down 6% year-over-year, again with the majority of the decline from international sales.
Despite the revenue dip, the company highlighted a significant achievement: three new peer-reviewed studies published in 2026 on the VBAS, bringing the total to 53 peer-reviewed clinical papers. These studies provide compelling evidence of the system's benefits, including safer tumor resection with fewer new neurological deficits compared to traditional blade retractors. One study focused on a complex pediatric tumor case, emphasizing the integration of neuro-navigation with VBAS as a paramount strategy. Another retrospective study of 23 patients undergoing tumor resection found that the tubular retractor group had significantly fewer new neurological deficits at follow-up compared to the blade retractor group. The most recent study, involving 29 adults undergoing minimally invasive suboccipital tubular resection of posterior fossa metastases, concluded that this approach enables effective decompression with low cerebrospinal fluid diversion rates.
Financially, the company reported gross profit of $344,445 for the second quarter, down 19% from the prior year, with a gross margin of 82% compared to 83%. Operating profit for the quarter was $6,851, a significant drop from $51,146 in 2025, while non-GAAP operating profit (which excludes non-cash depreciation and stock-based compensation) was $22,952 versus $85,712. For the six-month period, operating profit was $52,659, up from $38,340, and non-GAAP operating profit was $82,740 versus $106,100. The net loss attributable to common stockholders widened to $22,288 for the quarter, compared to income of $23,887 in the prior-year period, largely due to preferred stock dividends and discontinued operations.
Management emphasized that international sales can be lumpy, with large orders sometimes falling in different quarters, which explains the revenue volatility. The company remains focused on expanding the evidence base for VBAS, which is protected by 49 issued and 8 pending patents and has been used in over 350 hospitals in the US and internationally. NovaVision, still in development, generated revenues of $17,040 in the second quarter, a 17% increase, and $35,139 for the first half, up 8%. The company continues to invest in this division, which offers FDA-cleared Visual Restoration Therapy and the NeuroEyeCoach program, which has shown improvement in over 80% of patients in a 296-patient study.
For more information, visit www.vycormedical.com, www.vycorvbas.com, or www.novavision.com.
