Revenue Performance - Revenue for the three months ended September 30, 2024, was $50,000, compared to $0 for the same period in 2023, marking a significant increase due to the transfer of control of the Evie Ring Elements[139]. - Revenue for the nine months ended September 30, 2024, totaled $0.9 million, an increase from $0 in the same period in 2023, attributed to the recognition of revenue from the Evie Ring Elements[140]. Cost and Expenses - Cost of revenue for the three months ended September 30, 2024, was $0.8 million, with direct costs related to the Evie Ring Elements contributing to this increase[141]. - Cost of revenue increased to $2.4 million for the nine months ended September 30, 2024, compared to $0 for the same period in 2023[142]. - Total operating expenses for the three months ended September 30, 2024, were $7.4 million, down 18% from $9.1 million in the same period in 2023[138]. - Research and development expenses decreased by 40% to $3.4 million for the three months ended September 30, 2024, compared to $5.6 million in the same period in 2023[138]. - Research and development expenses decreased to $9.2 million for the nine months ended September 30, 2024, down from $13.7 million in 2023, a reduction of 32.1%[143]. - Sales, general and administrative expenses totaled $8.8 million for the nine months ended September 30, 2024, a decrease of 12% from $10.0 million in 2023[145]. Net Loss and Financial Position - The company incurred net losses of $19.1 million and $23.3 million for the nine months ended September 30, 2024, and 2023, respectively, indicating a reduction in losses of approximately 18%[129]. - Loss from operations was $19.5 million for the nine months ended September 30, 2024, compared to $23.7 million for the same period in 2023, reflecting a 17.8% improvement[146]. - Net loss for the nine months ended September 30, 2024, was $19.1 million, down from $23.3 million in 2023, indicating an 18% reduction[148]. - Cash and cash equivalents totaled $11.3 million as of September 30, 2024, with $18.0 million used in operating activities during the same period[149]. Funding and Future Outlook - The company raised approximately $24.1 million from a private placement transaction that closed on April 5, 2024[152]. - The company expects to continue incurring significant expenses and increasing operating losses for at least the next several years[152]. Product Development - The Evie Ring, launched in November 2023, is designed to provide women with comprehensive health metrics, including heart rate and menstrual tracking[124]. - The company is developing a System-on-a-Chip (SoC) for non-invasive glucose monitoring and cuffless blood pressure monitoring, with clinical trials currently underway[126]. Stock and Transactions - The company completed a 1-for-15 reverse stock split on October 29, 2024, which did not change the par value of the common stock or the authorized number of shares[130]. - The company had no off-balance sheet transactions or non-cancelable obligations as of September 30, 2024[163][164]. Investment Activities - The company used $3,000 in investing activities during the nine months ended September 30, 2024, compared to $51,000 in 2023[160].

Financial Performance - The company reported an operating loss of $7.4 million in Q3 2024, an improvement from an operating loss of $9.1 million in Q3 2023, indicating a 19.0% reduction in losses year-over-year[9] - The net loss for Q3 2024 was $7.2 million, compared to a net loss of $9.0 million in Q3 2023, representing a 19.9% improvement in net loss year-over-year[17] - Research and development expenses for Q3 2024 were $3.4 million, down from $5.6 million in Q3 2023, indicating a 39.0% decrease in R&D spending year-over-year[17] - Total cash and cash equivalents as of September 30, 2024, were $11.3 million, up from $6.1 million at the end of 2023, reflecting a significant increase in liquidity[15] Product Development and Regulatory Progress - Movano Health is in the final stage of the FDA 510(k) application review process for the EvieMED Ring, which is expected to enhance its product offerings in the healthcare sector[6] - The company is advancing clinical studies for cuffless blood pressure and noninvasive glucose monitoring using its proprietary System-on-a-Chip technology[3] - Movano Health has entered the agreement phase with a large healthcare company for a pilot program in Q1 2025, utilizing the EvieMED Ring as part of a metabolic solution for chronic disease management[7] Sales and Marketing Strategy - In Q3 2024, Movano Health shipped 339 Evie Rings, showing a focus on direct-to-consumer sales following the successful back-in-stock launch on September 17, 2024[9] - Movano Health is focused on enhancing the consumer experience with the upcoming launch of an Android app to maximize sales potential during the holiday period[4] Corporate Actions - The company implemented a 1-for-15 reverse stock split on October 29, 2024, to increase the bid price of its common stock and regain compliance with Nasdaq listing requirements[10]

Highlights successful Evie Ring back-in-stock execution Updates status of EvieMED 510(k) application review Focuses on launch of EvieMED and securing B2B opportunities Conference Call at 2:00 PM PT/ 5:00 PM ET Today PLEASANTON, Calif., Nov. 14, 2024 /PRNewswire/ -- Movano Health (Nasdaq: MOVE), a pioneer in health technology, reported third quarter 2024 results and provided a business update. The Company continues to remain focused on three key business initiatives. Successful execution of the Evie Ring dir ...

New hardware boasts significant improvements to reduce noise and generate higher fidelity signals PLEASANTON, Calif., Nov. 7, 2024 /PRNewswire/ -- Movano Health Inc. (Nasdaq: MOVE) announced today that it has tested its newly developed blood pressure wrist wearable as part of its November 5th and 6th hypoxia clinical trial that took place at the University of California, San Francisco. The updated device features an additional 12 mmWave antennas which together with Movano Health's custom IC delivers enhance ...

Conference Call at 2:00 PM PT/ 5:00 PM ET PLEASANTON, Calif., Nov. 6, 2024 /PRNewswire/ -- Movano Health (Nasdaq: MOVE), a pioneer in health technology, today announced that it will report third quarter 2024 financial and operating results on Thursday November 14, 2024, after the market close. Management will host a conference call and live audio webcast to discuss these results and provide a business update on the same day at 2:00 pm PT/5:00 pm ET. Attendees can access the live webcast here or on the inves ...

Company remains optimistic on the potential for this pioneering healthcare solutionPLEASANTON, Calif., Nov. 4, 2024 /PRNewswire/ -- Movano Health (NASDAQ: MOVE) announced today that it has submitted a complete response package to the FDA as part of the final phase of the Company's 510(k) application review of the EvieMED Ring. The Company remains optimistic on EvieMED's potential for 510(k) clearance."Our team has worked diligently to provide a thorough response to the Agency's questions," said John Mastrot ...

Company Continues to Work with Securities Regulators, Legal Advisors and Other Partners to Protect Interests of Shareholders PLEASANTON, Calif., Nov. 4, 2024 /PRNewswire/ -- Movano Health (Nasdaq: MOVE) (the "Company") provided an update on an investigation to expose apparent manipulation in trading of the Company's common shares, following the recent announcement of a shareholder approved reverse stock split. Based on its preliminary investigation, the Company believes that between the announcement of the ...

Company Communicating with Securities Regulators, Legal Advisors and Other Partners to Protect Interests of Shareholders PLEASANTON, Calif., Oct. 31, 2024 /PRNewswire/ -- Movano Health (Nasdaq: MOVE) (the "Company") announced today that it has opened an investigation to expose apparent manipulation in trading of the Company's common shares, following the recent announcement of a shareholder approved reverse stock split."We are committed to transparency and protecting the interests of our Company and shareho ...

Collaboration Will Expand Awareness of Movano's Female First Wearable to D'Amelio's 12 Million Social Media Followers PLEASANTON, Calif., Oct. 30, 2024 /PRNewswire/ -- Movano Health (Nasdaq: MOVE) today announced its first brand partnership with digital creator, wife, mom and entrepreneur Heidi D'Amelio. An icon in the wellness, fashion and beauty space, D'Amelio will share her experiences with Movano's Evie Ring with her more than 12 million Instagram and TikTok followers and also provide product feedback ...

Shares Expected to Begin Trading on Split-Adjusted Basis on October 29, 2024PLEASANTON, Calif., Oct. 25, 2024 /PRNewswire/ -- Movano Health (Nasdaq: MOVE) announced today that it will implement a 1-for-15 reverse stock split of the issued shares of its common stock (the "Reverse Stock Split"), effective at 12:01 a.m. Eastern time on October 29, 2024. The Company's common stock is expected to begin trading on a split-adjusted basis when the market opens on Tuesday, October 29, 2024, and will continue to trad ...