SeaStar Medical (NASDAQ:ICU) Posts Earnings Results, Beats Expectations By $0.06 EPS

SeaStar Medical (NASDAQ:ICU) announced its quarterly earnings results on Wednesday. The company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.06, FiscalAI reports. The business had revenue of $0.61 million for the quarter, compared to analysts’ expectations of $0.49 million. SeaStar Medical had a negative net margin of 795.51% and a negative return on equity of 140.03%.

Here are the key takeaways from SeaStar Medical’s conference call:

• QUELIMMUNE adoption and revenue accelerated: Second-quarter net revenue rose 82% year over year to $615,000, with gross margins above 90%. The therapy is now used at 20 of the 50 premier U.S. children’s hospitals, versus 10 at the start of 2026, supporting the company’s $2 million full-year revenue target.
• CMS assigned ICD-10-PCS billing codes for QUELIMMUNE, effective October 1, which management believes will remove an administrative barrier to hospital adoption. SeaStar also completed the required 50-patient SAVE registry and is preparing the final report for FDA review.
• Adult AKI trial enrollment is progressing but remains dependent on site activation and patient selection: NEUTRALIZE-AKI has enrolled 223 of 339 planned patients, with recent enrollment averaging roughly 8–12 patients per month. Management expects enrollment around year-end 2026 or the first quarter of 2027, while maintaining its late-2027 modular PMA submission target.
• Operating expenses more than doubled year over year to $4.4 million as clinical activity and corporate costs increased, producing a $3.7 million quarterly net loss. Cash declined to approximately $7 million at June 30 from $12 million at year-end 2025, highlighting ongoing funding and dilution risk.

SeaStar Medical Trading Down 0.9%

Shares of ICU traded down $0.03 on Friday, reaching $3.14. 25,735 shares of the company’s stock traded hands, compared to its average volume of 118,263. The stock’s 50 day simple moving average is $3.65 and its two-hundred day simple moving average is $3.41. The stock has a market cap of $12.56 million, a PE ratio of -0.82 and a beta of -1.05. SeaStar Medical has a 52-week low of $2.07 and a 52-week high of $12.50.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Maxim Group set a $8.00 price objective on SeaStar Medical and gave the stock a “buy” rating in a research note on Thursday, May 14th. Wall Street Zen lowered SeaStar Medical from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SeaStar Medical in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.00.

Institutional Investors Weigh In On SeaStar Medical

Large investors have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in shares of SeaStar Medical during the 3rd quarter worth $102,000. Jane Street Group LLC purchased a new position in shares of SeaStar Medical in the 4th quarter worth about $30,000. Finally, XTX Topco Ltd grew its position in SeaStar Medical by 395.4% during the second quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock valued at $26,000 after buying an additional 48,674 shares during the period. 1.69% of the stock is owned by hedge funds and other institutional investors.

About SeaStar Medical

SeaStar Medical, Inc (NASDAQ: ICU) is a medical device company focused on the development and commercialization of cerebral embolic protection systems for patients undergoing transcatheter aortic valve replacement (TAVR) procedures. The company’s mission is to reduce the risk of stroke and other neurologic events associated with structural heart interventions by capturing or deflecting embolic debris that can travel to the brain during catheter-based therapies.

The company’s flagship product, TriGUARD® 3, is a next-generation embolic deflection device designed to provide coverage of all three cerebral vessels during TAVR.