– Webcasted Q2-2025 conference call scheduled for August 26th at 5:00 PM EDT –
Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTCQX: PYNKF) (“Perimeter” or the “Company”), a commercial-stage medical technology company, today announced preliminary unaudited revenues for the second quarter ended June 30, 2025, senior management changes, and the creation of a Perimeter Industry Advisory Board (“IAB”).
Preliminary Unaudited Second Quarter 2025 Revenues
Unless otherwise indicated, all amounts in this press release are expressed in U.S. dollars.
Perimeter anticipates total revenue for the second quarter of 2025 to be approximately $500,000, representing year-over-year growth of approximately 100%. Sequentially, the Company expects that greater than 35% procedure growth will result in over 50% recurring revenue growth in Q2-2025 compared to Q1-2025. This was primarily driven by stronger current Perimeter S-Series system utilization, with significantly more interoperative OTC imaging procedures performed by existing surgeon users, and at a higher price per procedure.
For the six-month period ended June 30, 2025, total revenue is expected to be approximately $1.0 million, compared to $345,000 in the 6-month period ended June 30, 2024 and $846,000 for the full year ended December 31, 2024.
Gross margin is expected to be approximately 69% for the second quarter and 61% for the six-month period ended June 30, 2025, respectively.
“We are excited that the growing adoption, both in terms of new system placements and increased current device utilization, we saw during the first three months of the year continued through the second quarter,” commented Adrian Mendes, Perimeter’s Chief Executive Officer. “To put that into perspective, six-month 2025 revenue alone is estimated to surpass revenues for all of 2024. Now, as our sales pipeline continues to build, and with the Premarket Approval application for our next-generation Perimeter B-Series under review with the FDA, we anticipate a continuation of strong growth moving forward.”
Further, Perimeter advised that it expects initial savings from its cost control efforts will result in an approximate 30% reduction in total operating costs, starting in Q3-2025.
These figures are preliminary and unaudited, and actual revenues may differ. Perimeter is providing this information due to planned investment community meetings to be held ahead of its Q2-2025 financial results release and conference call later this month.
Leadership Changes
Perimeter announced today the appointments of Abbey Goodman as Vice President, Sales, and Paolo DiPasquale as Vice President, Corporate Development, in a move designed to further position the Company for continued sales success and growth:
Ms. Goodman brings over 20 years of medical device sales experience, most recently serving as Profound Medical’s Global Chief Commercial Officer. Prior to joining Profound, she progressed through a variety of senior sales leadership roles with Hologic, Novadaq Technologies, Covidien (now Medtronic), and DePuy Mitek. Ms. Goodman earned a BS in Biological Engineering from Louisiana State University.
Mr. DiPasquale brings a unique perspective as someone who has over 17 years of experience in the U.S. and Canadian capital markets across Equity Research, Institutional Equity, and Investment Banking at Canaccord Genuity and Stephens. Most recently, he served as Chief Strategy Officer of a gaming and marketing company, where he managed its successful capital raising strategy and go-public process on NASDAQ. Mr. DiPasquale is a graduate of Duquesne University with two majors: a BSc in Finance and a BSc in Investment Management.
In addition, Perimeter announced that Tom Boon has recently retired as Perimeter’s Chief Operating Officer. Mr. Boon will continue to help guide the Company’s commercial strategy through his membership on Perimeter’s newly formed IAB (please see below).
“We are excited to welcome Abbey and Paolo to the Perimeter team. They bring deep expertise and leadership that will be critical as we advance our business,” said Mr. Mendes. “At the same time, we want to thank Tom for his outstanding leadership and contributions to Perimeter. We look forward to continuing to work with him in his new capacity on our IAB.”
Creation of Perimeter Industry Advisory Board
Perimeter also announces the creation of an IAB to support the Company’s growth strategies across all products, channels and geographies. Chairing the IAB will be Diana Chan, Managing Director of BridgeGap Solutions Group. With over 20 years of experience in the medical device industry, Ms. Chan is a seasoned marketing leader dedicated to driving growth and innovation. She played a key role in MOLLI Surgical’s journey, from building its brand presence and implementing growth strategies to its successful exit after three years of commercialization through its acquisition by Stryker Corporation. Currently, she provides advisory and mentorship in the medtech space through BridgeGap Solutions Group, a consultancy she founded to support organizations with limited resources in business and market development. Prior to MOLLI Surgical, she held executive positions at Medtronic, Bard, and Fresenius Medical Care. Ms. Chan received a BA in Administrative and Commercial Studies from Western University, and an MBA from the University of Notre Dame.
The full mandate and initial composition of the IAB will be announced at a later date.
Conference Call
Perimeter will report its second quarter 2025 financial and operating results after market close on August 26, 2025. Following the announcement, the Company will host a conference call and live audio webcast at 5:00 pm Eastern Time to discuss the results and provide a corporate update. To participate in the call, please dial 1-800-717-1738 or 1-646-307-1865. The conference call will also be broadcast live online through a listen-only webcast, which will be posted on the Investors section of the Company’s website and archived for approximately 90 days.
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