Canada's Spectral Medical Q1 revenue rises 56%, net loss narrows

Spectral Medical

08/05/2026 12:39

Overview

Canada sepsis device maker's Q1 revenue rose 56% yr/yr, driven by higher product sales

Q1 net loss narrowed to C$2.9 mln from C$12.6 mln a year ago

Company targets FDA PMA submission for Toraymyxin on May 29, 2026; receives added Vantive funding

Outlook

Spectral targets FDA PMA submission for PMX on May 29, 2026

Company expects to report topline 12-month mortality data in June 2026

Spectral and Vantive align market readiness efforts with potential FDA approval timelines

Result Drivers

PRODUCT REVENUE GROWTH - Higher product sales, including proprietary biochemical and instrumentation sales, and PMX pre-commercialization activities drove revenue increase

OPERATING EXPENSE DECLINE - Lower fair value adjustments on derivative liabilities and foreign exchange adjustments reduced operating expenses

CLINICAL COST REDUCTION - Clinical development and regulatory program costs fell due to completion of Tigris enrollment and reduced clinical site activity

Company press release: ID:nGNX2tRJcD

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
C$891,000
C$754,000 (1 Analyst)
Q1 EPS
-C$0.01


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy."

Wall Street's median 12-month price target for Spectral Medical Inc is C$3.15, about 131.6% above its May 7 closing price of C$1.36

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)