$CLPT

MRI INTERVENTIONS, INC.

CIK:0001285550|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 10,880	$ 9,215	$ 23,008	$ 17,700
Cost of revenue	4,170	3,659	8,542	7,012
Gross profit	6,710	5,556	14,466	10,688
Research and development costs	4,632	3,829	9,154	7,208
Sales and marketing expenses	6,768	4,019	13,483	7,853
General and administrative expenses	5,554	3,388	10,551	7,470
Operating loss	(10,244)	(5,680)	(18,722)	(11,843)
Other income (expense):
Other expense, net	(7)	(52)	(42)	(48)
Interest income	289	285	640	436
Interest expense	(1,413)	(365)	(2,795)	(365)
Net loss before income taxes	(11,375)	(5,812)	(20,919)	(11,820)
Income tax (benefit) expense	(38)	25	(30)	43
Net loss	$ (11,337)	$ (5,837)	$ (20,889)	$ (11,863)
Net loss per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.38)	$ (0.21)	$ (0.7)	$ (0.42)
Diluted (in dollars per share)	$ (0.38)	$ (0.21)	$ (0.7)	$ (0.42)
Weighted average shares outstanding:
Basic (in shares)	30,166,640	28,258,305	29,858,476	27,990,102
Diluted (in shares)	30,166,640	28,258,305	29,858,476	27,990,102
Product revenue
Revenue:
Total revenue	$ 7,376	$ 5,997	$ 16,178	$ 11,288
Service and other revenue
Revenue:
Total revenue	$ 3,504	$ 3,218	$ 6,830	$ 6,412

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash flows from operating activities:
Net Income (Loss)	$ (11,337)	$ (9,552)	$ (5,837)	$ (6,026)	$ (20,889)	$ (11,863)
Adjustments to reconcile net loss to net cash used in from operating activities:
Allowance for credit losses (recoveries)					(95)	217
Depreciation and amortization					236	499
Amortization of intangible assets	503		0		1,007	0
Share-based compensation					4,489	4,177
Payment-in-kind interest					1,061	172
Amortization of debt issuance costs and original issue discounts					94	21
Amortization of lease right of use assets, net of accretion in lease liabilities					1,244	461
Deferred income taxes					(33)	0
Increase (decrease) in cash resulting from changes in:
Accounts receivable					(1,751)	237
Inventory, net					(452)	482
Prepaid expenses and other current assets					342	(136)
Other assets					(215)	0
Accounts payable and accrued expenses					777	(1,944)
Lease liabilities					(900)	(471)
Contract liabilities					103	(576)
Net cash used in operating activities					(14,982)	(8,724)	$ (23,900)
Cash flows from investing activities:
Purchases of property and equipment					(859)	(274)
Net cash used in investing activities					(859)	(274)
Cash flows from financing activities:
Proceeds from offering of common stock, net of offering costs					0	3,263
Proceeds from issuance of note payable, net of financing costs and discount					0	28,653
Proceeds from stock option exercises					603	49
Payments for taxes related to net share settlement of equity awards					(1,993)	(1,661)
Proceeds from issuance of common stock under employee stock purchase plan					546	311
Net cash (used in) provided by financing activities					(844)	30,615
Net change in cash, cash equivalents and restricted cash					(16,685)	21,617
Cash, cash equivalents and restricted cash, beginning of period		$ 46,973		$ 20,104	46,973	20,104	20,104
Cash, cash equivalents and restricted cash, end of period	30,288		41,721		30,288	41,721	46,973
Cash and cash equivalents	29,363		41,541		29,363	41,541	45,923
Restricted cash included in other current assets and other assets, non-current	925		180		925	180
Total cash, cash equivalents and restricted cash	$ 30,288		$ 41,721		30,288	41,721	$ 46,973
Cash paid for:
Income taxes					30	12
Interest					$ 1,061	$ 172

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 29,363	$ 45,923
Accounts receivable, net	8,395	6,549
Inventory, net	8,813	8,359
Prepaid expenses and other current assets	2,361	2,769
Total current assets	48,932	63,600
Property and equipment, net	2,986	2,621
Operating lease, right-of-use assets	12,644	8,430
Goodwill	7,472	7,472
Intangible assets, net	12,915	13,922
Other assets	1,792	1,702
Total assets	86,741	97,747
Current liabilities:
Accounts payable	2,153	1,256
Accrued compensation	4,141	4,360
Other accrued liabilities	1,983	2,786
Operating lease liabilities, current portion	194	694
Contract liabilities, current portion	1,842	1,669
Total current liabilities	10,313	10,765
Operating lease liabilities, net of current portion	13,520	8,461
Contract liabilities, net of current portion	511	581
Long-term notes payable, net	50,232	49,077
Deferred tax liabilities, net	321	354
Other long-term liabilities	1,068	489
Total liabilities	75,965	69,727
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued and outstanding at June 30, 2026 and December 31, 2025	0	0
Common stock, $0.01 par value; 90,000,000 shares authorized at June 30, 2026 and December 31, 2025; 30,503,132 and 29,368,760 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	305	294
Additional paid-in capital	245,703	238,995
Shares to be issued	2,567	5,641
Accumulated deficit	(237,799)	(216,910)
Total stockholders’ equity	10,776	28,020
Total liabilities and stockholders’ equity	$ 86,741	$ 97,747