PMI — what changed in the latest 10-Q
A section-by-section comparison of PMI's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-19 vs the prior 10-Q · 2026-05-15
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +18 | −8 | ~12 | 17 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~5 | 6 |
| Legal proceedings | Text added/removed | +2 | −1 | ~1 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-19
During the second quarter of 2026, we continued development of the Emperor TAH program, including the successful completion of a series of acute in vivo implant studies evaluating the latest iteration of the Emperor TAH and the presentation of new in vivo Emperor data at the American Society for Art…
Subsequent to June 30, 2026, we publicly presented the integrated architecture of the Emperor TAH platform for the first time at the 48th Annual International Conference of the IEEE Engineering in Medicine and Biology Society (“IEEE EMBC 2026”). The presentation provided the biomedical engineering c…
The NYSE American’s acceptance allows us to continue to be listed on the NYSE American, subject to PMI achieving the milestones set forth in the Compliance Plan and being subject to quarterly review by the NYSE American. We are subject to a maximum period of 18 months from the original notice of non…
Total cost of revenues decreased by $0.02 million, or 0%, for the six months ended June 30, 2026, as compared to the six months ended June 30, 2025.
The decrease was primarily driven by improved gross margins on product sales, which more than offset the costs associated with rental sales. As a result, total cost of revenue decreased to 78% of total sales for the six months ended June 30, 2026, compared with 118% for the corresponding period in 2…
Text removed vs the prior filing · source: 10-Q · 2026-05-15
The Company’s management has begun its analysis regarding submission of the Plan to the NYSE American by the June 7, 2026, deadline. If the NYSE American accepts the Company’s Plan, the Company will have an eighteen month cure period to comply with the Plan and be able to continue its listing during…
The NYSE Notice has no immediate impact on the listing of the Company’s shares of Common Stock, which will continue to be listed and traded on the NYSE American during this period, subject to the Company’s compliance with the other listing requirements of the NYSE American. The Common Stock will con…
Total cost of revenues decreased by $0.1 million, or 11%, for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025. The decrease was primarily due to $0.3 million decrease in outside service costs, offset by a $0.2 million increase in labor cost. Rental revenue…
Research and development expenses increased by $1.1 million, or 135%, for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025. The increase was primarily attributable to increased activity and phase scheduling in the new product research. We do not track expen…
Selling, general and administrative expenses increased by $0.8 million, or 39%, for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025. The increase was primarily attributable to a $0.8 million increase in professional and legal expenses.
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-08-19
On February 2, 2026, a putative securities class action captioned Louie v. Picard Medical, Inc., et al., Case No. 5:26-CV-01024, was filed in the United States District Court for the Northern District of California, San Jose Division. The complaint named PMI as a defendant, along with certain of its…
On July 28, 2026, Lead Plaintiffs and Named Plaintiff Nicholas Boldery filed an Amended Complaint ("Amended Complaint"), dropping their claims under the Securities Exchange Act of 1934 (Sections 10(b) and 20 (a)) and instead alleging claims under Sections 11 and 15 of the Securities Act of 1933 conc…
Text removed vs the prior filing · source: 10-Q · 2026-05-15
On February 2, 2026, a putative securities class action captioned Louie v. Picard Medical, Inc., et al., Case No. 5:26-CV-01024, was filed in the United States District Court for the Northern District of California, San Jose Division. The complaint names PMI as a defendant, along with certain of its…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice