V
Catheter Precision, Inc.
VTAKCIK 0001716621NYSENon-AcceleratedSmaller ReportingSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31
Period
FY 2025
Revenue
$819.0K
Net Income
$-17.18M
Total Assets
—
Equity
—
Shares Out
2.69M
Op. Cash Flow
$-8.30M
Business
Catheter Precision, Inc. designs, manufactures and sells medical technologies focused on cardiac electrophysiology (EP) procedures. Its main products include the VIVO non‑invasive 3D cardiac mapping system, the LockeT suture retention and hemostasis device, the Amigo remote catheter system intellectual property, and the PeriKard pericardial access kit (in development). The company operates through product development, research and development, manufacturing/fulfillment and commercial/sales support functions. It markets primarily to hospitals and electrophysiology labs in the United States and internationally via a direct sales force and independent distributors.
Summary from filing dated 2025-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenues | 819,000 | 420,000 | 442,000 | 14,000 | 22,000 | |
| Cost of revenues | 63,000 | 42,000 | 30,000 | 161,000 | 2 | |
| Gross profit | 756,000 | 378,000 | 412,000 | −147,000 | −2 | |
| Selling, general and administrative | 12 | 11 | 17 | 16 | 15 | |
| Research and development | 862,000 | 272,000 | — | — | — | |
| Acquired in-process research and development | 2 | 0 | — | — | — | |
| Loss on impairment of intangible assets | 7 | 0 | — | — | — | |
| Total operating expenses | 22 | 12 | 79 | 27 | 28 | |
| Operating loss | −21 | −11 | −78 | −27 | −29 | |
| Interest income | 34,000 | 81,000 | 347,000 | — | — | |
| Change in fair value of royalties payable due to related parties | 6 | −2 | 7 | — | — | |
| Change in fair value of convertible notes payable | 2,000 | 0 | — | — | — | |
| Loss on debt extinguishment | −3 | 0 | — | — | 2 | |
| Net loss on trading debt securities | −564,000 | 0 | — | — | — | |
| Other expenses, net | −2,000 | −10,000 | −8,000 | 99,000 | −14,000 | |
| Total other income (expenses), net | 2 | −2 | 8 | 99,000 | 2 | |
| Loss from operations before income tax provision (benefit) | −20 | −14 | −71 | −27 | −27 | |
| Income tax provision (benefit) | −2 | 3 | 0 | 3,000 | 4,000 | |
| Net loss | −18 | −17 | — | — | — | |
| Less: Net loss attributable to non-controlling interest | −512,000 | 0 | — | — | — | |
| Net loss attributable to Catheter Precision, Inc. | −17 | −17 | −71 | −27 | −25 | |
| Deemed dividend on warrant inducement offer | 0 | −5 | −800,000 | — | — | |
| Net loss attributable to Catheter Precision, Inc. common stockholders | −17 | −22 | −71 | — | — | |
| Net loss per share attributable to Catheter Precision, Inc. common stockholders, basic and diluted (in dollars per share) | −15.9 | −126.91 | −129.88 | −25.98 | −248.22 | |
| Weighted-average common shares used in computing net loss per share, basic and diluted (in shares) | 1 | 171,774 | 549,507 | 1 | 101,000 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 100,000 | 3 | 4 | 16 | 15 | |
| Accounts receivable, net | 155,000 | 70,000 | 137,000 | 0 | 21,000 | |
| Inventories | 86,000 | 33,000 | 44,000 | 0 | 986,000 | |
| Prepaid expenses and other current assets | 61,000 | 316,000 | 415,000 | 977,000 | 1 | |
| Total current assets | 390,000 | 3 | 4 | 17 | 17 | |
| Property and equipment, net | 64,000 | 91,000 | 70,000 | 0 | 2 | |
| Operating lease right-of-use assets, net | 162,000 | 105,000 | 179,000 | 0 | 2 | |
| Intangible assets, net | 15 | 24 | 26 | 0 | — | |
| Other non-current assets | 8,000 | 8,000 | 8,000 | 0 | 36,000 | |
| TOTAL ASSETS | 16 | 28 | 31 | 17 | 21 | |
| Accounts payable | 1 | 230,000 | 464,000 | 92,000 | 988,000 | |
| Accrued expenses | 2 | 2 | 2 | 7 | 4 | |
| Convertible notes payable, at fair value | 298,000 | 0 | — | — | — | |
| Current portion of operating lease liabilities | 63,000 | 98,000 | 91,000 | 0 | 283,000 | |
| Total current liabilities | 4 | 2 | 2 | 8 | 5 | |
| Royalties payable due to related parties | 792,000 | 9 | 7 | — | — | |
| Operating lease liabilities | 101,000 | 13,000 | 97,000 | 0 | 2 | |
| Deferred tax liability | 1 | 3 | 0 | — | — | |
| Total liabilities | 9 | 16 | 10 | 8 | 7 | |
| Commitments and Contingencies (see Note 16) | — | — | — | — | — | |
| Common stock, $0.0001 par value, 500,000,000 shares authorized; 1,738,955 and 421,296 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 0 | 0 | 0 | 0 | — | |
| Additional paid-in capital | 317 | 304 | 297 | — | — | |
| Accumulated deficit | −310 | −292 | −276 | −205 | −178 | |
| Total stockholders' equity attributable to Catheter Precision, Inc. | 7 | 12 | 21 | 9 | 14 | |
| Non-controlling interest | −403,000 | 0 | — | — | — | |
| Total stockholders' equity | 7 | 12 | 21 | — | — | |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 16 | 28 | 31 | 17 | 21 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Loss on impairment of intangible assets | 7 | 0 | — | — | — | |
| Depreciation and amortization | 2 | 2 | 2 | — | — | |
| Stock-based compensation | 338,000 | 54,000 | 1 | 447,000 | 2 | |
| Net loss on trading debt securities | 564,000 | 0 | — | — | — | |
| Deferred income tax provision (benefit) | −2 | 3 | 0 | — | — | |
| Acquired in-process research and development | 2 | 0 | — | — | — | |
| Amortization of discount on note payable | 45,000 | 0 | — | — | — | |
| Accounts receivable | −85,000 | 67,000 | −66,000 | 0 | 42,000 | |
| Inventories | −78,000 | −8,000 | 8,000 | −14,000 | −197,000 | |
| Prepaid expenses and other current assets | 255,000 | 99,000 | 876,000 | −335,000 | 150,000 | |
| Operating lease right-of-use assets and lease liabilities | −4,000 | −3,000 | 4,000 | — | — | |
| Current portion of royalties payable due to related parties | 19,000 | 32,000 | 0 | — | — | |
| Accounts payable | 1 | −234,000 | −550,000 | −879,000 | 627,000 | |
| Accrued expenses | 149,000 | −185,000 | −7 | 2 | −390,000 | |
| Net cash used in operating activities | −8 | −9 | −21 | −23 | −28 | |
| Consideration paid for the acquired in-process research and development | −116,000 | 0 | — | — | — | |
| Purchases of property and equipment | −17,000 | −67,000 | −76,000 | −17,000 | −265,000 | |
| Proceeds from the sale of trading debt securities | 300,000 | 0 | — | — | — | |
| Net cash provided by (used in) investing activities | 167,000 | −67,000 | −61,000 | 21,000 | 4 | |
| Proceeds from notes payable due to related parties | 300,000 | 2 | 0 | — | — | |
| Proceeds from issuance of convertible notes payable | 300,000 | 0 | — | — | — | |
| Payments on short-term notes payable | −238,000 | −256,000 | −107,000 | 0 | — | |
| Proceeds from short-term notes payable | 61,000 | 249,000 | 0 | — | — | |
| Proceeds from exercise of warrants | 0 | 1 | 1 | 6 | — | |
| Net cash provided by financing activities | 5 | 9 | 8 | 23 | 15 | |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | −3 | −692,000 | −12 | 814,000 | −9 | |
| Cash paid for interest | 7,000 | 31,000 | 204,000 | 0 | 2,000 | |
| Property and equipment reclassified from inventories | 25,000 | 19,000 | 0 | — | — | |
| Consideration for asset acquisition included in accounts payable | 103,000 | 0 | — | — | — | |
| Extinguishment of notes payable due to related parties | 2 | 0 | — | — | — | |
| Noncash consideration issued in connection with extinguishment of notes payable due to related parties | 622,000 | 0 | — | — | — | |
| Extinguishment of royalties payable due to related parties | 3 | 0 | — | — | — | |
| Operating right-of-use asset obtained in exchange for new operating lease liabilities | 142,000 | 0 | — | — | — |
Filings
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