0001493152-26-023352
SEC filingPAVmed Inc. reported Q1 2026 financial results with GAAP net loss of $7.0 million, non-GAAP adjusted loss of $1.9 million, revenue of $22 thousand, and cash of $6.5 million.
PAVmed Inc. announced first quarter 2026 results showing a GAAP net loss attributable to common stockholders of approximately $7.0 million, or $(4.42) per diluted share, driven by operating expenses of $8.1 million which included $0.2 million in stock-based compensation. Revenue was modest at $22 thousand, reflecting the company's early commercial-stage status in medical devices, diagnostics, and digital health. Non-GAAP adjusted loss was $1.9 million or $(1.17) per share, adjusting for non-cash items like changes in fair value of convertible debt, equity investments, warrant and rights liabilities, and debt extinguishment losses totaling significant other income/expense impacts. Cash position strengthened to $6.5 million from $1.5 million at December 31, 2025, supporting ongoing operations. Subsidiary Lucid Diagnostics contributed $1.3 million in EsoGuard revenue from 3,177 tests and bolstered its balance sheet with $17 million net proceeds from a public offering, ending with $45 million proforma cash into 2027 ahead of reimbursement milestones. Veris Health advanced its implantable physiological monitor toward FDA 510(k) submission with presubmission activities and expanded commercial engagement at OSU's James Cancer Hospital. PAVmed relaunched its medical device portfolio under Joseph Virgilio, progressing PortIO device and Duke-licensed esophageal imaging, while evaluating acquisitions. CEO Lishan Aklog highlighted simplified capital structure enabling execution focus and growth opportunities, positioning the company amid commercial momentum in subsidiaries.