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

SeaStar Medical (NASDAQ:ICU) announced its quarterly earnings results on Wednesday. The company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 146.29% and a negative net margin of 828.62%.

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 Performance

NASDAQ ICU traded down $0.33 on Wednesday, reaching $3.36. The stock had a trading volume of 154,828 shares, compared to its average volume of 119,055. The stock has a market cap of $13.44 million, a P/E ratio of -0.70 and a beta of -1.05. SeaStar Medical has a 12-month low of $2.07 and a 12-month high of $12.50. The business’s 50-day moving average price is $3.65 and its 200 day moving average price is $3.40.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On SeaStar Medical

Institutional investors have recently modified their holdings of the business. XTX Topco Ltd raised its position in SeaStar Medical by 395.4% in the 2nd 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 during the last quarter. Jane Street Group LLC purchased a new position in SeaStar Medical during the 4th quarter worth $30,000. Finally, Millennium Management LLC purchased a new position in SeaStar Medical during the 3rd quarter worth $102,000. 1.69% of the stock is owned by institutional investors and hedge funds.

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.