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

SeaStar Medical (NASDAQ:ICU) posted its 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 firm had revenue of $0.61 million during the quarter, compared to the consensus estimate of $0.49 million. SeaStar Medical had a negative net margin of 828.62% and a negative return on equity of 146.29%.

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%

SeaStar Medical stock traded down $0.33 during trading on Wednesday, reaching $3.36. The stock had a trading volume of 154,828 shares, compared to its average volume of 119,055. SeaStar Medical has a 52-week low of $2.07 and a 52-week high of $12.50. The business has a 50 day moving average price of $3.65 and a 200 day moving average price of $3.40. The stock has a market cap of $13.44 million, a PE ratio of -0.70 and a beta of -1.05.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On SeaStar Medical

Several institutional investors have recently modified their holdings of ICU. XTX Topco Ltd grew its stake in shares of SeaStar Medical by 395.4% during the second quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock worth $26,000 after purchasing an additional 48,674 shares in the last quarter. Millennium Management LLC acquired a new stake in SeaStar Medical in the third quarter valued at $102,000. Finally, Jane Street Group LLC purchased a new stake in SeaStar Medical during the 4th quarter worth about $30,000. 1.69% of the stock is owned by hedge funds and other institutional investors.

SeaStar Medical Company Profile

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.