Perimeter Announces First Quarter 2026 Financial Results

• Perimeter Medical Imaging AI reported First Quarter 2026 financial results on May 28, 2026.
• Revenue was approximately $385,000 for Q1 2026, down from $550,000 in Q1 2025; recurring revenues increased 14% year-over-year.
• Operating expenses were approximately $3.2 million (down 30% from $4.6 million in Q1 2025).
• Net loss was approximately $3.0 million ($0.02 per share), a 31% improvement compared to $4.3 million in Q1 2025.
• Cash position as of March 31, 2026 was approximately $421,000 excluding proceeds from recent financings.
• Financing activity included the closing of the "Life Offering" ($5.5M US) and the first tranche of a Debenture Offering ($2.0M US to CEO Adrian Mendes).
• FDA PMA approval for Claire OCT+AI device was received in March 2026; first two commercial placements announced in May 2026.
• Sales funnel stands at close to 50 qualified leads.
• Corporate actions included cancellation of stock options and warrant surrender by Social Capital.

• The financing closure resolves the immediate liquidity crisis highlighted by the $421,000 cash position prior to proceeds.
• Revenue decline YoY ($385k vs $550k) is a negative signal regarding commercial traction speed following FDA approval in March 2026.
• Loss narrowing indicates improved operational efficiency but does not offset the high burn rate relative to revenue generation.
• The financing was announced on April 21, 2026 (rated Material - Negative due to dilution/redomiciling concerns); its closure removes uncertainty but confirms significant shareholder dilution.
• Social Capital warrant cancellation reduces future dilution risk from that specific holder, a positive structural change.
• CEO Adrian Mendes investing in the debenture offering signals insider confidence but also concentrates related-party debt exposure.

• Perimeter Medical Imaging AI develops intraoperative imaging technology for breast cancer surgery.
• Flagship product Claire OCT+AI received FDA PMA approval in March 2026; first AI-enabled device approved for this indication in the U.S.
• Legacy S-Series OCT system is generating recurring revenue from consumables and leases (14% growth YoY).
• Technology integrates proprietary AI with wide-field OCT imaging to evaluate tumor margins during surgery.
• Market opportunity targets ~300,000 annual U.S. breast-conserving surgeries.