Perimeter Medical Imaging AI Announces Second Quarter 2025 Financial Results
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TORONTO and DALLAS, Aug. 26, 2025 /PRNewswire/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTCQX: PYNKF) ("Perimeter" or the "Company"), a commercial-stage medical technology company, today reported financial results for its second quarter ended June 30, 2025 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.
Business Highlights
Current Perimeter S-Series OCT ("Perimeter S-Series") Device
The Company continues to gain significant positive commercial market traction with its first U.S. Food and Drug Administration ("FDA")-cleared product, Perimeter S-Series:
Q2-2025 revenue of $506,000, up 105% over Q2-2024.
Revenue for the first six months of 2025 was $1.1 million, 25% higher than total revenue for all of 2024.
Utilization of existing Perimeter S-Series devices continues to increase, with surgeons now having imaged over 3,000 patients to-date. This further demonstrates surgeon demand for the technology's unique ability to enable interoperative margin imaging at the cellular level. Second quarter case volumes increased 93% year-over-year and 35% sequentially quarter-over-quarter.
Perimeter's installed base is also growing strongly. Since the start of the second quarter, the Company announced that HonorHealth, a leading healthcare system serving more than 5 million people in the greater Phoenix and Scottsdale areas, was the first in Arizona to deploy the Perimeter S-Series device, and Medical City Dallas Hospital, an award-winning 899-bed acute care hospital in the Dallas-Fort Worth area, also adopted the technology.
Upcoming Perimeter B-Series OCT with ImgAssist AI ("Perimeter B-Series") Device
The Company also continues to advance the development of its next-generation Perimeter B-Series, which combines proprietary AI technology with OCT, toward potential commercialization.
In May 2025, detailed results from the pivotal trial evaluating the use of Perimeter B-Series for intraoperative margin assessment during BCS were presented during the scientific session of the 26th Annual Meeting of the American Society of Breast Surgeons ("ASBrS"). As previously announced, the pivotal trial met its primary endpoint with statistically significant reduction in patients with residual cancer during surgery (p-value = 0.0050) and demonstrated super-superiority compared to standard-of-care alone. Among other positive findings, the ASBrS presentation highlighted that use of Perimeter B-Series has the potential to change the current paradigm by empowering surgeons to identify regions of interest, enhance real-time intraoperative decision-making, and potentially reduce the incidence of re-excision due to unaddressed residual disease following lumpectomy.
Also in May 2025, Perimeter entered into a Development Support Agreement with Salt Lake City-based Intermountain Health, the largest nonprofit health system in the Intermountain West. This agreement creates the framework for the two organizations to partner on a number of future studies evaluating the potential value of using Perimeter's OCT and collecting additional data to support the continued development of the Company's AI algorithms.
In June, the Company announced the launch of the OCT-Tissue Surveillance Registry, a database that aims to collect thousands of ...
