Vycor Medical Reports 10% Revenue Growth and Continued Investment in Neurosurgical Technologies

Vycor Medical has reported robust financial performance for the year ended December 31, 2024, with the Vycor Medical division experiencing a 10% revenue increase driven primarily by expanded hospital market penetration in the United States. The company generated total revenues of $1,589,324, representing a 9% growth compared to the previous year.

The Vycor Medical division, which produces the ViewSite Brain Access System (VBAS), saw significant traction in the US market, adding 11 new hospitals and achieving a 17% increase in hospital sales. This growth underscores the growing acceptance of the company's minimally invasive neurosurgical technology among healthcare providers.

A key highlight of the year was the publication of eight peer-reviewed studies demonstrating the effectiveness of the VBAS. One notable study involving 106 patients evaluated the system's performance in glioma removal, while another 22-patient study concluded that VBAS allows for complete cyst removal with minimal complications, offering improved visualization and reduced tissue disruption.

The company maintained strong gross margins of approximately 90% and continues to invest in product development. To accelerate growth, Vycor Medical has engaged Maxim Group LLC to explore strategic acquisitions, partnerships, and potential uplisting to a US exchange.

Despite the positive revenue growth, the company reported a net loss of $431,570 for the year, which is consistent with its ongoing investment in research, development, and market expansion. Non-GAAP operating expenses increased to $1,340,967, reflecting investments in regulatory compliance, human resources, and scientific consulting.

The company also noted potential economic challenges related to recent trade tariffs, though its US-based manufacturing and product development should help mitigate potential supply chain disruptions.

Vycor Medical's strategic focus remains on advancing its neurosurgical technologies, particularly the VBAS system, which has now been approved and used in over 300 hospitals in the United States and internationally.