PAVmed Q1 Loss of $4.42 EPS, $22K Revenue and $6.5M Cash
PAVmed reported a Q1 GAAP loss of $4.42 per diluted share and minimal revenue of $22,000, up from $8,000 a year earlier. The company ended March with $6.5 million in cash, a 2.02 current ratio, but continues to face recurring losses and going-concern uncertainty.
1. Q1 2026 Financial Results
PAVmed reported a GAAP net loss of $7.0 million, or $4.42 per diluted share, for Q1 2026. Revenue reached only $22,000, up from $8,000 in the prior-year quarter, reflecting early-stage commercialization challenges.
2. Revenue and Expense Breakdown
Operating expenses for the quarter totaled $8.1 million, including $6.4 million in general and administrative costs and $1.4 million in research and development. Adjusted non-GAAP net loss was $1.9 million, or $1.17 per share.
3. Cash Position and Liquidity
The company ended March with $6.5 million in cash and cash equivalents, compared to $1.5 million at year-end 2025. A current ratio of 2.02 provides short-term liquidity support despite negative operating cash flow.
4. Recurring Losses and Going-Concern
PAVmed continues to generate recurring losses and negative cash flow from operations, leading to going-concern uncertainty. Management will need to secure additional funding or improve commercial traction to sustain operations.