Vycor Medical reported financial results for the year ended December 31, 2025, showing a return to operating profitability and substantial revenue growth primarily from its neurosurgical device division. The company operates through two business units: Vycor Medical, which produces the ViewSite™ Brain Access System (VBAS) for neurosurgeons, and NovaVision, which offers therapy programs for visual disorders after stroke or brain injury.
The Vycor Medical division revenues increased by 18% over 2024, with most growth coming from international markets, although sales growth continued in the United States. Operating profit was $33,900 compared to an operating loss of $(9,145) in 2024, and non-GAAP operating profit was $145,881 compared to $81,245 in 2024. For the year ended December 31, 2025, the company reported revenue of $1,863,400, an increase of $274,076 (or 17%) over 2024. The Vycor Medical division generated revenue of $1,796,070, an increase of $280,326 (or 18%) over 2024.
During 2025, seven new peer-reviewed studies were published on the ViewSite Brain Access System, bringing the total published peer-reviewed clinical papers to 50, with an additional 14 other clinical papers. The studies reflected increasing international spread of VBAS clinical data, with papers published in the United States, United Kingdom, Japan, and Mexico, all highlighting clinical advantages including reduced brain tissue damage, improved patient outcomes, and reduced hospital stay. For an overview of Vycor Medical's VBAS, see https://www.vycorvbas.com.
A new clinical study on NovaVision's NeuroEyeCoach was published during 2025, comparing results from using the program at home with using it in a clinic. The study concluded that both home-based and clinic-based patients showed meaningful improvements with no significant differences between the two settings in activities of daily living improvements, validating NeuroEyeCoach as an effective tool whether used clinically or accessed remotely. This study is important given the significant drive in healthcare systems worldwide to access digital technologies in home settings. For an overview of NovaVision, see https://www.novavision.com.
Gross profit for 2025 was $1,498,295, an 11% increase over 2024, generating a margin of 83% versus 89% in 2024, attributable to validation, shipping and higher manufacturing costs of new production as well as a higher international sales mix. The NovaVision division, which remains in development, generated revenues of $67,330 for the year ended December 31, 2024, a decrease of $6,250 or 8% from 2025, and gross margin of 93%, compared to 91% for 2024.
For the year ended December 31, 2025, the company reported non-GAAP cash operating expenses of $1,415,226 compared to $1,340,967 in 2024, and non-GAAP operating profit of $145,881 compared to $81,548 in 2024, an increase of $64,333. On a GAAP basis for the year ended December 31, 2025, the company reported operating expenses of $1,527,207, an operating profit of $33,900, a net loss of $396,796, and a loss of $0.01 per share. Vycor's GAAP operating costs for the year ended December 31, 2025, include non-cash depreciation of purchased assets ($63,143) and non-cash stock compensation charges ($48,838).
The financial results demonstrate Vycor Medical's successful execution of its international growth strategy while advancing clinical validation of both its neurosurgical device and digital therapy platforms. The company's transition to operating profitability, combined with expanding clinical evidence supporting both product lines, positions it for continued growth in the medical technology sector. The validation of home-based delivery for NovaVision's therapies aligns with broader healthcare trends toward remote care delivery and digital health solutions.
