0001628280-26-034145
SEC filingMixed Q1: modest revenue growth and improved cash flow, but operating loss widened on higher SG&A and R&D spending.
Revenue for the three months ended March 31, 2026 was $9.6 million, an increase of 3.0% compared to $9.3 million in the same period in 2025. The growth was primarily driven by higher volume of UltraMIST disposables, partially offset by a decline in system sales. Gross profit increased to $7.4 million from $7.4 million, representing a gross margin of 77.3%. The decrease in gross margin was largely driven by a decrease in pricing on our UltraMIST systems and applicators due to a higher reseller mix.