Catheter Precision, Inc.

What they do

The company sells two electrophysiology products: VIVO, a non-invasive 3D cardiac imaging system cleared by the FDA and CE Marked that helps physicians locate the origin of ventricular arrhythmias before a procedure, and LockeT, a Class I FDA-registered suture retention device used in wound closure after percutaneous venous procedures. Following its acquisition of Flyte, it also operates an FAA-certified Part 135 regional air carrier. Products are utilized in 15 countries, with commercialization concentrated in the United States and Europe.

Revenue drivers

• Electrophysiology devices (VIVO and LockeT) — Core medical device segment; Q1 2026 segment revenue grew approximately 73% year-over-year on new customer acquisition in the U.S. and Europe, and the segment represented the entirety of the company's $819,000 of 2025 annual revenue.
• Flyte aviation platform — Acquired in the first quarter of 2026 and reported to have generated a $200,000 monthly revenue run rate within 22 days of post-acquisition operations in March, contributing to the step-up in Q2 2026 revenue.
• Geographic expansion — Adoption of VIVO and LockeT expanded across new institutions, with products now used in 15 countries; new clinical publications (VIVO across 32 patients and 46 ventricular tachyarrhythmia sites) support the commercial push.

Recent performance

Q1 2026 revenue was $432,000, up 200% from $143,000 in Q1 2025, with the medical device segment up approximately 73%. The Q1 2026 net loss narrowed to $1.7 million from $4.0 million a year earlier, including about $560,000 of depreciation, amortization and stock-based compensation. Q2 2026 revenue was $1.0 million, versus $238,000 in the fourth quarter of 2025. Full-year 2025 revenue was $819,000 with a net loss of $17.2 million and operating cash outflow of $8.3 million. At June 30, 2026 the company reported $643,000 of cash, $36.9 million of total assets, $19.7 million of total liabilities and $17.6 million of shareholder equity.

Strategy

Management describes the company as a dual-engine platform pairing high-margin, clinically validated medical device innovation with a rapidly scaling, technology-enabled aviation infrastructure business. It is expanding Flyte's fleet, which scaled from 1 aircraft at acquisition to 3, with 2 additional jets expected by the end of Q2 2026, and deploying AI-driven booking and optimization technology. It filed applications with the FAA to expand Flyte service internationally to Toronto and the Bahamas, and is targeting high-demand Northeast summer routes including the Hamptons, Martha's Vineyard and Cape Cod. On the device side it continues clinical publication and hospital-by-hospital penetration in the U.S. and Europe. The company also completed multiple unregistered equity sales and charter amendments between April and July 2026.

Risks

• Going concern and funding need — Management states the company will be required to raise additional funds to finance operations and continue as a going concern, with $643,000 of cash reported at June 30, 2026.
• NYSE American listing — The company discloses that its stockholder equity is near the minimum level prescribed by the NYSE American and that it is liable to be delisted if it cannot maintain minimum listing requirements.
• History of losses — The operating business has a history of losses and is expected to incur additional losses, with net losses of $16.6 million in 2024 and $17.2 million in 2025.
• Integration of FLYTE and asset development — The company warns that integrating the FLYTE business may be more difficult, time-consuming or costly than expected, that it may lose customers or employees, and that it cannot develop the assets acquired by KardioNav and Cardionomix without additional financing.

Outlook

Management points to the Flyte acquisition as delivering immediate revenue contribution and significant growth visibility, with fleet expansion and planned international routes as the near-term levers. It cites continued medical device penetration across new U.S. and European hospitals and clinical publications as support for device growth. The company frames itself as a dual-engine platform with diversified revenue across healthcare and mobility markets. It also reiterates the need to raise additional capital and the risk that financing may not be available on acceptable terms.