Perimeter Announces Preliminary Second Quarter 2026 Financial Results

Perimeter Medical Imaging AI, Inc. ("Perimeter" or the "Company"), a commercial-stage medical technology company, today reported preliminary financial results for its second quarter ended June 30, 2026, and provided a corporate update. Unless specified otherwise, all amounts in this press release are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board. "The commercial momentum that's been building over the past several quarters has allowed us to execute our transition from selling our legacy FDA 510(K)-cleared S-Series OCT to launching our next-generation, AI-enabled and FDA PMA-approved Claire™ OCT device from a position of strength," commented Adrian Mendes, Perimeter's Chief Executive Officer. "And the results of that have thus far exceeded our expectations, with the first two Claire placements already made, and the first Claire commercial deployment by a major cancer care center achieved. We look forward to updating all of our stakeholders as we continue to grow." Business Highlights Legacy S-Series OCT to Commercial Launch of Claire OCT+AI While the Company made final preparations ahead of the commercial launch of its flagship Claire OCT+AI device in the second quarter, recurring revenue from its legacy S-Series OCT grew 31% sequentially quarter-over quarter. In April 2026, the Company formally unveiled Claire at the 27th Annual Meeting of the American Society of Breast Surgeons (ASBrS) in Seattle, WA. Perimeter achieved the first two commercial placements of the Claire device – consisting of legacy replacements of Perimeter S-Series systems by two top-tier hospitals – in May 2026, marking a critical step as the Company works to establish its proprietary technology as a standard of care in breast-conserving surgery. In June 2026, Perimeter was selected to receive a $148,000 contribution from the INOVAIT Pilot Fund to help build the next layer of Claire's infrastructure. Last week, Perimeter announced that Intermountain Health, the largest nonprofit health system in the Mountain West region, had become the first health system in the U.S. to commercially deploy Claire for real-time margin assessment in breast-conserving surgeries. Corporate In May 2026, Perimeter closed the final tranche of its previously announced "best efforts" offering, pursuant to the listed issuer financing exemption (Life Offering), bringing the total offering up to the maximum offering size of 21,489,000 units at a price of $0.35 per unit (C$7,521,150). In June 2026, the Company closed the final tranche of its previously announced non-brokered private placement (the "Debenture Offering") of C$1,000 principal amount 3.59% convertible debentures of the Company (the "Convertible Debentures"). Under the first and second tranches of Debenture Offering, the Company issued an aggregate of C$6,040,000 principal amount of Convertible Debentures. Summary Preliminary Second Quarter 2026 Financial Results 1 Revenue was approximately $503,000 for the second quarter of 2026, with the full amount coming from recurring revenue, which consisted of the sale of S-Series consumables and system leases, as well as from preventative maintenance services and the sale of ESP warranty programs. Second quarter 2026 revenues were essentially unchanged from $506,000 in Q1-2025, and up 31% from approximately $385,000 in Q1-2026. Operating expenses for the three months ended June 30, 2026 were approximately $3.1 million, down 28% from $4.3 million in the same period in 2025. Second quarter 2026 net loss was approximately $2.6 million, or $0.02 per common share, a 33% improvement compared to approximately $3.9 million, or $0.04 per common share, in the t...