Picard Medical, Inc. (PMI) Earnings Call Transcript & Summary

July 17, 2026

NYSEAM US Health Care Health Care Equipment and Supplies shareholder_meeting

Earnings Call Speaker Segments

Yuncai Fang

executive
#1

Good afternoon, everyone, and welcome to the 2026 Annual Meeting of Stockholders of Picard Medical, Inc. My name is Richard Fang, Interim CEO and Chairman of the Board. Thank you for joining us today and for the continued support of Picard Medical. This year's annual meeting is being conducted virtually, allowing stockholders to participate remotely. And now I call meeting to order. Just me, Georgina Smith, Matt Schuster, and myself are representing our management team, and we are joined by our directors, which includes Sam Van, George Ye and Joe Xiao. And also online, we start their representative of MaloneBailey, our Independent Auditor.

Georgina Smith

executive
#2

Thank you, Richard. My name is Gina Smith, Chief Accounting Officer. The Board fixed June 26, 2026 as the record date for determining stockholders entitled to vote at this meeting. We have an affidavit of mailing from CST attesting to the fact that Notices of Meeting, proxy statements and 2025 annual reports were mailed to our stockholders of record on June 30, 2026. The purpose of this meeting is to elect 4 directors to serve until the 2027 Annual Meeting of Stockholders. To approve, on an advisory basis, the compensation of our named executive officers. To approve, on an advisory basis, the frequency of our future advisory votes on the compensation of our named executive officers. To approve an amendment to the company's charter. To effect the reverse stock split of our common stock at a ratio to be determined by the board at a ratio ranging from 1 for 15 to 1 for 50. To approve an amendment to the company's charter to designate a new class of Class B common stock with each share entitled to 20 votes per share. To ratify the appointment of MaloneBailey as the company's independent registered public accounting firm for 2026. And to transact any other business that may properly come before the meeting. The Board has appointed [ Vincent Amadeo ] to act as Inspector of Election at this meeting. He is online with us today and has signed his oath of office. He has submitted the following report. 102,695,935 shares of common stock were outstanding as of the record date. Stockholders holding at least a majority of the outstanding shares entitled to vote are present online or represented by proxy at this meeting. Accordingly, we have a quorum. Accordingly, the annual meeting is duly convened, and we may proceed with the business before the stockholders today.

Matthew Schuster

executive
#3

Thank you, Georgina. Good afternoon, everyone. My name is Matt Schuster, Chief Operating Officer. Before we begin voting, I'd like to briefly review today's meeting procedures. Stockholders of record as of the close of business on June 26, 2026, are entitled to vote at today's annual meeting. If you have not already voted your shares, you may do so through the virtual meeting platform until the polls are closed immediately before the end of the meeting. Stockholders may also submit questions through the virtual meeting platform during today's meeting. We will review all questions submitted by verified stockholders following the conclusion of the meeting and respond appropriate after the meeting in accordance with our public disclosure obligations.

Yuncai Fang

executive
#4

Thank you, Matt. The poll is now open. [Voting]

Yuncai Fang

executive
#5

We will now consider each share proposal described in the company's proxy statement. Proposal 1, Election of Directors. Proposal 1 is the election of 4 directors to serve until the 2027 Annual Meeting of Stockholders or until their respective successors are duly elected and qualified. The Board of Directors then nominate Richard Fang, Sam Van, Joe Xiao and George Ye for the election to the company's Board. The Board of Directors recommends a vote for each nominee. Proposal 2, advisory vote on executive compensation. Proposal 2 is an advisory vote to approve the compensation of our named executive officers, commonly refer to as say-on-pay proposal. The Board recommends a vote for the proposal. Proposal 3, a price for on the frequency of future say-on-pay votes. Proposal 3 is the advisory vote regarding the preferred frequency of future advisory vote on executive compensation. The board recommends a vote for 1 year. Proposal 4, amendment to the certificate of incorporation to authorize and refer stock split. Proposal 4 is approval of amendments to our certificate of incorporation to authorizing the Board of Directors. As a discretion to effect a reverse stock fleet within the range described in the proxy statement. Proposal 5, amends to authorize the Class B common stock. Proposal 5 is approval of amendments to our certificate incorporation to authorize a new class of Class B common stock as described in the proxy statement. Proposal 6, ratification of independent registered public accounting firm. Proposal 6 is the ratification of appointment of MaloneBailey LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2026. As no further business properly brought before the meeting, I now declare the calls closed and ask the Inspector of Elections to tabulate the votes.

Georgina Smith

executive
#6

Thank you, Richard. Based on the preliminary report provided by the Inspector of Elections, each proposal has received the requisite stockholder vote for approval. These results are preliminary and remain subject to final certification by the Inspector of Election. The final voting results will be reported in a current report on Form 8-K, which will be filed with the Securities and Exchange Commission within the time required by applicable SEC rules.

Matthew Schuster

executive
#7

Thank you, Georgina. We appreciate the participation and engagement of our stockholders. Questions submitted through the virtual meeting platform by verified stockholders will be reviewed following the conclusion of today's meeting. To help ensure that responses are accurate, complete and consistent with our public disclosure obligations, the company will respond to questions as appropriate following the meeting. Thank you for your continued interest in Picard Medical.

Yuncai Fang

executive
#8

Thank you, Matt. On behalf of the Board of Directors, management and our whole of our employees, thank you for joining us today and for your continued support of Picard Medical. We appreciate the confidence our shareholders has placed in the company and remain committed to advancing our mission while creating long-term value for our stockholders. As there is no further business to come before the meeting, I declare the 2026 Annual Meeting of Stockholders adjourned. Thank you, and have a wonderful day.

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