Baird Medical Investment Holdings Limited (NASDAQ: BDMD) is a global medical technology company focused on minimally invasive ablation solutions. Established in 2012, the company has developed a strong foundation in microwave ablation technology for thyroid nodules and other solid tumors.
NASDAQ:
BDMD
Baird Medical
25%
Revenue Growth
in H1 2026.
Building the Next Global Leader in Minimally Invasive Ablation.
i
Baird Medical (NASDAQ: BDMD) is accelerating U.S. and global expansion with its minimally invasive microwave ablation technology, advancing precision treatment for thyroid nodules and other solid tumors while building a broader next-generation ablation platform.
First-Mover Advantage in Thyroid Ablation
Baird Medical is proud to be the first company in China to receive a Class III medical device registration certificate for microwave ablation specifically indicated for thyroid nodules. ii
Investor Overview*
Baird Medical is entering a new phase of growth, supported by 25% revenue growth in H1 2026, improving profitability, and expanding commercial traction across the United States and international markets.
The company’s strategy combines established MWA technology, regulatory leadership, physician education, and a growing pipeline of next-generation precision ablation solutions designed to support broader clinical applications.
For investors, Baird Medical presents a developing MedTech story supported by established ablation technology, expanding clinical applications, international commercialization, and continued investment in next-generation minimally invasive treatment solutions.
* See our Important Notice and Disclaimer below for a detailed discussion on compensation, risks, the risks associated with forward looking statements, the need to seek the advice of a professional investment advisor before investing, and more.
The Growing Need for Less Invasive Treatment Options
Patients with thyroid nodules and other soft-tissue conditions may face treatment pathways involving conventional surgery, which can be associated with visible scarring, longer recovery periods, and greater disruption to daily life.
At the same time, physicians and healthcare systems are increasingly seeking treatment options that can deliver greater precision while reducing the physical burden associated with conventional surgical procedures.
This growing clinical need is creating demand for advanced minimally invasive technologies that can target abnormal tissue with precision, support faster recovery, and expand treatment options across thyroid, breast, liver, and other soft-tissue applications.
The opportunity is clear: deliver effective treatment with less disruption to the patient.
Baird Medical Is Advancing the Future of Minimally Invasive Ablation
Targeted tissue
Baird Medical is addressing the limitations of traditional surgery through advanced microwave ablation technology designed to treat targeted tissue with precision while minimizing disruption to surrounding areas.
Using image-guided, minimally invasive procedures, Baird Medical’s MWA technology is designed for precise soft-tissue ablation. The company’s broader treatment portfolio includes applications across thyroid nodules, breast nodules, liver cancer, and uterine fibroids.
The technology is designed to help physicians deliver precise thermal ablation through a small needle-like applicator, potentially reducing visible scarring, shortening recovery time, and improving the overall treatment experience for appropriately selected patients.
Backed by regulatory progress, physician adoption, ongoing R&D, and expanding international commercialization, Baird Medical is building a broader precision ablation platform aimed at advancing minimally invasive care worldwide.
Financial Highlights i
Strong Growth. Expanding Margins. Global Momentum.
Baird Medical delivered strong financial performance in the first half of 2026, supported by international expansion, U.S. growth, and improved operating efficiency.
Up 24.6% year over year.
Reflecting a strong and improving revenue mix.
Up 32.0% year over year.
Demonstrating significant improvement in operating performance.
Positive Net Income
Baird Medical achieved positive net income in H1 2026.
~27% of Revenue from the U.S.
Highlighting accelerating commercial traction in one of the world’s largest healthcare markets.
~Two-Thirds of Revenue Generated Outside China
Demonstrating growing international diversification and global market expansion.
The top-line growth Baird Medical achieved in the first half of 2026 reflects the continued, successful execution of the company’s international growth strategy as well as ongoing progress toward the diversification of its revenue base beyond its core MWA technology. Moreover, the positive net income, EBITDA and adjusted EBITDA for the period are a clear indication of improvement in operating performance.
With approximately 27% of Baird Medical’s first half revenue coming from the U.S. compared to less than 2% in the first half of 2025, the company believes that its expanded commercial efforts are beginning to generate tangible results as Baird Medical continues to increase its presence and deepen engagement with physicians and healthcare institutions, driving awareness of the benefits of its minimally invasive approach to tumor ablation. As Baird Medical builds on its established global footprint, demonstrated by recent expansions in Argentina, Vietnam, and Pakistan, the company believes this growth positions it well for continued expansion.
Baird Medical’s U.S. commercial expansion is progressing ahead of plan, as the company has expanded its sales team and now has coverage in multiple key territories.
Baird Medical remains confident in the potential of the U.S. market and is deeply committed to expanding not only its business but the overall MWA market as the company continues to move ahead. While the opportunity in MWA is significant, Baird Medical is working to further expand its product offering to generate further value for its physician partners. These R&D initiatives are progressing, and the company anticipates submitting multiple additional products for regulatory clearances in the future.
Multiple High-Growth Markets. One Expanding Ablation Platform.
Baird Medical operates across several growing minimally invasive treatment markets, creating opportunities beyond a single disease category.
Tumor ablation
The global tumor ablation market is estimated at $2.4 billion in 2026 and projected to reach $6.1 billion by 2033, growing at a 14.1% CAGR. iii This market includes applications such as liver and breast cancer, with microwave ablation identified as a fast-growing technology segment.
Thyroid ablation devices
The global thyroid ablation devices market is estimated at $219.8 million in 2026 and projected to reach $318.4 million by 2030 iv , with microwave ablation among the fastest-growing segments.
Uterine fibroid treatment devices
Meanwhile, the global uterine fibroid treatment devices market is estimated at $8.4 billion in 2026, reaching approximately $12.2 billion by 2030. v
Each chart uses its own scale.
Based on its proprietary microwave ablation technology and expanding applications across thyroid, breast, liver, and uterine conditions, Baird Medical appears well positioned to pursue opportunities across growing minimally invasive treatment and precision ablation markets.
Note: These market estimates represent distinct treatment categories and should not be combined as a single total addressable market.
* See our Important Notice and Disclaimer below for a detailed discussion on compensation, risks, the risks associated with forward looking statements, the need to seek the advice of a professional investment advisor before investing, and more.
Top Reasons to Have BDMD on Your Radar
1. Strong H1 2026 Growth with Improving Profitability:
Baird Medical reported approximately $9.9 million in H1 2026 revenue, up 24.6% year over year, alongside positive net income, approximately $1.6 million in EBITDA and nearly $4.0 million in adjusted EBITDA. i
2. High-Margin Business with Growing International Revenue:
The company delivered an 87.0% gross margin, while approximately two-thirds of H1 2026 revenue came from markets outside China, indicating an increasingly diversified commercial base. i
3. First-Mover Leadership in Thyroid Microwave Ablation:
Baird Medical was the first company in China to receive a Class III medical device registration certificate for microwave ablation specifically indicated for thyroid nodules, establishing an early regulatory position in the field. ii
4. Meaningful Adoption Across Leading U.S. Medical Institutions:
Baird Medical’s MWA solutions have been adopted by 30+ leading U.S. institutions and private practice groups, including Mayo Clinic, Columbia University Medical Center, UCSF Medical Center, and The George Washington University Hospital. vi
5. U.S. Commercial Expansion Is Gaining Real Traction:
The company has expanded its U.S. sales organization across multiple key territories, while U.S. revenue contribution increased substantially in H1 2026—supporting Baird Medical’s strategy to build a significant presence in the American market. i
6. A Commercial Footprint Spanning 20+ Countries:
Baird Medical’s sales now reach more than 20 countries, with recent regulatory and clinical expansion across markets including Argentina, Vietnam and Pakistan, providing multiple pathways for future international growth. vi
7. Exposure to Multiple Clinical Applications:
Baird Medical’s technology platform extends beyond a single indication, with applications across thyroid nodules, breast conditions, liver tumors and uterine fibroids, giving the company access to several treatment markets. vii
8. Evolving Beyond MWA into a Broader Ablation Platform:
Baird Medical is expanding beyond its core microwave ablation technology through irreversible electroporation (IRE), creating the potential for a more diversified precision-ablation portfolio. vi
9. AI and Robotics Expand the Development Pipeline:
The company is developing AI-powered surgical software designed for anatomical mapping, treatment planning and procedural simulation, with plans to integrate this technology into a future automated surgical robotic platform. viii
10. Building the Infrastructure for Broader Global Commercialization:
Baird Medical is expanding its U.S. commercial organization, maintaining global headquarters in New York, investing in physician engagement and R&D, and advancing regulatory activities across international markets. ix
* See our Important Notice and Disclaimer below for a detailed discussion on compensation, risks, the risks associated with forward looking statements, the need to seek the advice of a professional investment advisor before investing, and more.
Company Overview
Building a Global MedTech Platform Around Precision Ablation
Baird Medical Investment Holdings Limited (NASDAQ: BDMD) is a global medical device company specializing in minimally invasive ablation technologies for a range of solid tumors. Established in 2012, the company has built its core technology platform around microwave ablation and continues to broaden its presence across international healthcare markets.
Baird Medical’s lead product, a microwave ablation (MWA) system, is FDA-cleared for soft tissue ablation and is being launched in the United States primarily for the treatment of benign thyroid nodules. The company is also expanding its minimally invasive technology portfolio through IRE-based products and an AI-powered robotic ablation system.
Baird Medical’s MWA solutions have been adopted by a growing number of leading U.S. institutions and private practice groups, including Mayo Clinic, Columbia University Medical Center, and The George Washington University Hospital. The company continues to expand its commercial footprint across international markets while advancing next-generation precision ablation technologies.
Technology & Treatment
One Precision Ablation Platform. Multiple Treatment Opportunities.
Baird Medical’s technology portfolio is built around minimally invasive microwave ablation, designed to deliver targeted treatment through image-guided procedures with precision and reduced disruption to surrounding tissue.
The company’s treatment portfolio spans thyroid nodules, breast nodules, liver cancer, and uterine fibroids, giving Baird Medical exposure to several clinical markets through a common minimally invasive technology base.
Team
Haimei Wu Chief Executive Officer and Chairwoman of the Board
Ms. Haimei Wu co-founded Baide Suzhou in 2012 and has served as Baird Medical’s Chairwoman of the Board of Directors and a director of Baird Medical since January 2021, and as Baird Medical’s Chief Executive Officer since September 2021. Ms. Wu is mainly responsible for the overall corporate strategies and management of Baird Medical’s business operations and development. Ms. Wu has over 20 years of experience in the medical devices industry. Ms. Wu is currently a director and general manager of Baide Suzhou, an executive director and general manager of Nanjing Changcheng, an executive director of Henan Ruide, an executive director of Guoke Baide (Guangdong) Medical Co., Ltd. (“Guoke Baide”), each a subsidiary of Baird Medical. Haimei Wu also served as the executive director and general manager of Guangzhou Daokang Trading Co., Ltd., a company engaged in the sales of medical instruments, equipment and consumables in the PRC. Prior to founding Baide Suzhou, Haimei Wu served as a sales manager at Guangdong Taihua Medical instrument Co., Ltd. from January 2002 to June 2011, and as a sales manager at Guangdong Xintianran Pharmaceutical Co., Ltd., from July 2011 to October 2011. Haimei Wu graduated from Henan Province Xinyang Weisheng School with a specialty in anesthesia in July 2000. Ms. Wu completed advanced studies in financial investment and capital operations at Graduate School at Shenzhen, Tsinghua University in 2016.
Kun Seng Ng Chief Financial Officer and Company Secretary
Mr. Kun Seng Ng joined Baird Medical in September 2020. He has extensive work experience in accounting, auditing, and corporate finance, having worked at an international accounting firm and in finance-related roles at other listed companies before joining Baird Medical. He is a member of the Hong Kong Institute of Certified Public Accountants and has a Bachelor of the Arts in accountancy from The Hong Kong Polytechnic University.
Quan Qiu Chief Administrative Officer and Executive Director
Ms. Quan Qiu has served as a director of Baird Medical since January 2021. Ms. Quan Qiu is primarily responsible for the supervision and coordination of Baird Medical’s operations. Ms. Quan Qiu joined Baide Suzhou in April 2013, and Ms. Qiu currently serves as assistant general manager of Baide Suzhou, an executive director and general manager of Guizhou Baiyuan, and an executive director of Hunan Baide. Ms. Qiu graduated in medicine operation and management from Guangdong Food and Drug Vocational College in the PRC in July 2013.
Company developments
Latest News
Press releases
Financial performance
Baird Medical Reports 25% Revenue Growth and Positive Net Income for Six Months Ended June 30, 2026
Read the release Global expansionBaird Medical Expands Global Microwave Ablation Footprint with Additional Product Registrations in Pakistan
Read the release Strategic partnershipBaird Medical and Alpmed Enter Strategic Partnership to Advance Irreversible Electroporation (IRE) Technology Globally
Read the release Clinical milestoneBaird Medical Announces First Microwave Ablation Procedures Using Its Technology in Vietnam and Argentina
Read the release Company developmentBaird Medical Establishes Global Headquarters in New York City, Reinforcing Commitment to U.S. Commercial Expansion
Read the release
In Summary
Baird Medical Investment Holdings Limited (NASDAQ: BDMD) is evolving from a specialized ablation company into a broader MedTech platform focused on minimally invasive, precision-driven treatment technologies.
Its foundation in microwave ablation, first-mover regulatory history, expanding clinical adoption, and growing presence across international healthcare markets provide a differentiated base for future development.
The company’s next stage is being shaped by broader treatment applications, continued commercialization, regulatory progress, and ongoing investment in technologies designed to extend its minimally invasive treatment capabilities.
For investors tracking innovative medical technology companies, Baird Medical brings together clinical relevance, expanding commercialization, regulatory progress, and continued exposure to the global shift toward less invasive treatment solutions.
* See our Important Notice and Disclaimer below for a detailed discussion on compensation, risks, the risks associated with forward looking statements, the need to seek the advice of a professional investment advisor before investing, and more.
Baird Medical (NASDAQ: BDMD): Building the Next Generation of Precision Ablation Through Proven Technology, Global Expansion, and Scalable MedTech Growth
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(Last updated: September 9, 2026)