Catheter Precision (VTAK) Q4 2025 earnings summary

Executive summary

• Achieved significant clinical, commercial, and regulatory milestones in 2025, including CE Mark for LockeT and first commercial sales in Europe.

• Expanded customer base by 32 across VIVO and LockeT platforms and had four abstracts accepted at a major industry meeting.

• Acquired Flyte, entering the regional air mobility market and diversifying into two growth platforms: medical devices and aviation.

Financial highlights

• 2025 revenue reached $819 thousand, up 95% year-over-year from $420 thousand in 2024.

• Gross margin improved to 92.3% in 2025 from 90.0% in 2024.

• Net loss for 2025 was $17.2 million, with $7.8 million non-cash, compared to $16.6 million net loss and $7.5 million non-cash in 2024.

• Q4 2025 revenue increased 60% to $238 thousand versus Q4 2024; gross margin was 91.6%.

• Q4 2025 net loss was $5.3 million ($3.5 million non-cash) compared to $5.6 million ($3.1 million non-cash) in Q4 2024.

Outlook and guidance

• Entering 2026 with two differentiated growth platforms in large addressable markets and strengthened capital resources.

• Plans to scale Flyte aviation platform and continue commercialization of VIVO and LockeT.

• Evaluating strategic alternatives to enhance valuation and investor visibility.