TORONTO and DALLAS, May 28, 2026 /CNW/ - 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 first quarter ended March 31, 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.
"We continued to execute well across our business in the first quarter of 2026, delivering strong recurring revenue growth via sales to our legacy S-Series OCT users, along with significantly improved operating performance," commented Adrian Mendes, Perimeter's Chief Executive Officer. "Moving forward, buoyed by the first two placements of our next-generation, FDA PMA-approved, AI-enabled Claire™ OCT device, and supported by our recently completed LIFE financing, which was led by healthcare-dedicated institutional investors alongside new and existing investors, we are poised to begin expanding the presence of OCT+AI with additional leading healthcare institutions across the United States. We look forward to updating all of our stakeholders as we progress."
Business Highlights
Legacy S-Series OCT to Commercial Launch of Claire OCT+AI
The positive commercial momentum built throughout 2025 for the Company's legacy S-Series OCT continued in Q1-2026, with recurring revenues increasing 14% year-over-year.
In March 2026, Perimeter received U.S. Food and Drug Administration ("FDA") premarket approval ("PMA") for Claire, the first AI-enabled imaging device approved in the United States for intraoperative breast cancer margin assessment. The technology, which previously received Breakthrough Device designation from the FDA, is designed to enhance surgeons' ability to detect difficult-to-see cancer during breast-conserving surgery and potentially reduce the need for re-operations.
In April, the Company formally unveiled Claire OCT+AI at the 27th Annual Meeting of the American Society of Breast Surgeons (ASBrS) in Seattle, WA.
Today, Perimeter is pleased to announce the first two commercial placements of the Claire device, consisting of legacy replacements of Perimeter S-Series systems by two top-tier hospitals, marking a critical step as the Company works to establish its proprietary technology as a standard of care in breast-conserving surgery.
The Company's sales funnel for Claire has grown rapidly, and already stands at close to 50 qualified leads. Of those, more than a dozen are currently classified by Perimeter as being within one of the "Prospecting, Developing, Validating, and Contracting" stages.
Corporate
In February 2026, Perimeter entered into cancellation agreements with certain employees and consultants of the Company, pursuant to which it cancelled 1,935,553 previously issued stock options (the "Original Options"), exercisable at prices ranging from C$0.38 to C$2.85, and replaced the same number of Original Options with new stock options, exercisable at a price of C$0.30 per common share. No directors or officers of the Company have entered or will enter into cancellation agreements, have had Original Options cancelled or received Replacement Options.
In March 2026, Perimeter entered into a warrant cancellation agreement with SC Master Holdings LLC ("Social Capital"), pursuant to which Social Capital agreed to surrender 14,466,667 common ...
