Financial Highlights
Total revenue reported for Q3 2025 was $226,000, an increase of 135% compared with $96,000 in Q3 2024.
Total revenue was $581,000 for the nine months ended September 30, 2025, compared with $271,000 for the nine months ended September 30, 2024, an increase of 114%.
GAAP net loss for Q3 2025 was $2,251,000, a 45% reduction compared to $4,120,000 in Q3 2024.
GAAP net loss for the nine months ended September 30, 2025 and 2024 was $11,405,000, and $11,015,000 respectively. Non-cash charges for each of those periods were $4,232,000 and $4,437,000, respectively.
Commercial HighlightsSales activities for LockeT outside of the United States are increasing. The CE Mark approval for LockeT in the second quarter has generated interest in several countries, including Germany, France, Italy, Spain, Portugal, UK, and South Africa. In October, five accounts in South Africa have placed reorders.
Sales activity for VIVO is also gaining traction outside the US with additional accounts now using our VIVO product line, including the first purchase order from France in October.
Clinical studies and publications continue to be a priority. In late September, EP Lab Digest, a well-recognized publication within the electrophysiology marketplace, included an interview with Luigi Di Biase, MD, PhD, FACC, FHRS. He is Section Head of Electrophysiology and Director of Arrhythmia Services at Montefiore Hospital as well as Professor of Medicine (Cardiology) at Albert Einstein College of Medicine (New York City). The interview highlighted the use and economic benefits of the LockeT suture retention device for venous closure after EP procedures.
David Jenkins, CEO of Catheter Precision, commented, "Building on our impressive third-quarter results and a well-established pipeline, we believe that we are poised for a pivotal period of growth over the coming year. We project a major expansion of both our approved product lines across the US and international markets. Our confidence is further amplified by the completion of two VIVO clinical studies in 2025, which delivered powerful clinical evidence. This data reinforces our position that VIVO represents a transformative approach to treating ventricular arrhythmias, potentially enabling us to capture a dominant share of a critically underserved market."
About Catheter PrecisionCatheter Precision is an innovative U.S.-based medical device company bringing new solutions to market to improve the treatment of cardiac arrhythmias. It is focused on developing groundbreaking technology for electrophysiology procedures by collaborating with physicians and continuously advancing its products.
About VIVOCatheter Precision's VIVO™ (View Into Ventricular Onset), is a non-invasive 3D imaging system that enables physicians to identify the origin of ventricular arrhythmias pre-procedure, thereby streamlining workflow and reducing procedure time. VIVO has received marketing clearance from the U.S. FDA and has the CE mark.
About LockeTCatheter Precision's LockeT is a suture retention device intended to assist in hemostasis after percutaneous venous punctures. LockeT is a Class 1 device registered with the FDA and has the CE Mark.
Additional InformationThis release and all other releases from Catheter Precision, Inc. are limited in their entirety by other information filed with the SEC including, but not limited to, our latest 10-K, 10-Q's, and 8-K's, and should be read in conjunction with those filings.
Cautionary Note Regarding Forward Looking StatementsStatements in this press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to substantial risk and uncertainties. Forward-looking statements may be express or implied and can be identified by words such as "believe," "anticipate," "may," "might," "can," "could," "continue," "depends," "expect," "expand," "forecast," "gaining," "increasing," "intend," "poised," "predict," "plan," "project," "rely," "should," "will," "may," "seek," or the negative of these terms and other similar expressions, although not all forward-looking statements contain these words. These forward-looking statements include, but are not limited to, statements that sales activities for LockeT outside of the United States are increasing, that the CE Mark approval for LockeT in the second quarter has generated interest in several countries, that activity for VIVO is gaining traction outside the US, that we have a well-established pipeline and are poised for a pivotal period of growth over the coming year, ...
