SeaStar Medical (NASDAQ:ICU) Issues Earnings Results

Posted by Brenda Bartman on Aug 12th, 2026

SeaStar Medical (NASDAQ:ICU – Get Free Report) posted its earnings results on Wednesday. The company reported ($0.91) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.06, FiscalAI reports. SeaStar Medical had a negative net margin of 828.62% and a negative return on equity of 146.29%. The firm had revenue of $0.61 million during the quarter, compared to analysts’ expectations of $0.49 million.

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 Stock Down 8.9%

ICU traded down $0.33 during midday trading on Wednesday, hitting $3.36. 154,828 shares of the company traded hands, compared to its average volume of 119,055. The firm has a market capitalization of $13.44 million, a PE ratio of -0.70 and a beta of -1.05. SeaStar Medical has a 52 week low of $2.07 and a 52 week high of $12.50. The company’s 50-day moving average is $3.65 and its 200 day moving average is $3.40.

Institutional Investors Weigh In On SeaStar Medical

A number of hedge funds have recently modified their holdings of ICU. Millennium Management LLC bought a new position in shares of SeaStar Medical in the third quarter worth about $102,000. Jane Street Group LLC purchased a new position in SeaStar Medical during the fourth quarter valued at approximately $30,000. Finally, XTX Topco Ltd lifted its holdings 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 purchasing an additional 48,674 shares in the last quarter. Institutional investors own 1.69% of the company’s stock.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Analysis on SeaStar Medical

About SeaStar Medical

(Get Free Report)

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.