Odysight.ai Inc(ODYS)

Search documents
Odysight.ai Inc(ODYS) - 2025 Q2 - Quarterly Results
2025-08-13 20:16
Exhibit 99.1 Odysight.ai Reports Financial Results for The First Half of 2025 and Provides Business Update OMER, Israel, August 13, 2025 – Odysight.ai Inc. (NASDAQ: ODYS), a leading provider of visual based predictive maintenance (PdM) and condition-based monitoring (CBM) solutions, announces its financial results for the first half of 2025 and provides a business update. Key highlights for the six months ended June 30,2025 Einav Brenner, Chief Financial Officer of Odysight.ai: "During the second quarter, w ...
Odysight.ai Reports Financial Results for The First Half of 2025 and Provides Business Update
Globenewswire· 2025-08-13 20:10
Core Insights - Odysight.ai Inc. reported financial results for the first half of 2025, showing significant revenue growth and strategic advancements in partnerships and technology deployment [1][4][3]. Financial Performance - Revenues for the six months ended June 30, 2025, were approximately $2.4 million, an increase from $1.4 million for the same period in 2024, primarily due to a $1.7 million contract with a Fortune 500 medical company [4]. - The cost of revenues increased to $1.8 million from $1.1 million, attributed to the same Fortune 500 contract and inventory impairment [5]. - Gross profit was $0.7 million with a gross margin of approximately 28%, compared to a gross profit of $0.3 million and a margin of 21% in the previous year [6]. - Operating expenses rose to $9.7 million from $6.0 million, driven by operational expansion and one-time uplisting expenses, resulting in a net loss of $8.3 million compared to $5.3 million in the prior year [9]. - As of June 30, 2025, the company had a net cash position of approximately $33.2 million, significantly up from $13.6 million a year earlier [10]. Strategic Developments - The company deepened partnerships with tier-one customers and advanced its predictive maintenance system, particularly in the aerospace and defense sectors [3]. - Notable achievements include the deployment of its system on the Heron TP UAV for the Israeli Ministry of Defense and a strategic partnership with a multinational technology group [7]. - The backlog as of June 30, 2025, was approximately $14.4 million, indicating strong future revenue potential [4][8]. Market Position and Future Outlook - Odysight.ai is positioned as a leader in the predictive maintenance and condition-based monitoring markets, leveraging its unique video sensor-based solutions across various industries [13]. - The company aims to expand its technology applications beyond aviation, with ongoing collaborations in defense, mining, agriculture, and transportation sectors [3][7].
Odysight.ai Inc(ODYS) - 2025 Q2 - Quarterly Report
2025-08-13 20:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-42497 ODYSIGHT.AI INC. (Exact name of registrant as specified in its charter) Nevada 47-4257143 (State or other jurisdiction (I.R.S. Em ...
ODYSIGHT.AI DELIVERS ADVANCED VISION-BASED MONITORING SYSTEM FOR HERON TP UAV IN STRATEGIC PROGRAM WITH ISRAELI MOD AND AIR FORCE
Globenewswire· 2025-07-24 12:30
Core Viewpoint - Odysight.ai Inc. has successfully delivered a vision-based monitoring system for the Heron TP UAV, enhancing remote monitoring capabilities for Israel's Ministry of Defense [1][3] Group 1: Product Development and Features - The vision-based monitoring system utilizes unique algorithms and a miniature sensor-based optical system to provide advanced remote monitoring [1] - The integration supports improved engine health monitoring and mission assurance specifically for the PT6A-67 engine by Pratt & Whitney, aimed at enhancing airworthiness and operational safety in the Israeli Air Force [2] - The system allows for remote visual monitoring of hard-to-access engine areas, even during flight, showcasing significant technological advancements [3] Group 2: Strategic Collaborations - The initiative was developed in collaboration with the Directorate of Defense Research and Development (MAFAT), which integrates civilian startup capabilities into advanced defense applications [3] Group 3: Company Overview - Odysight.ai is focused on Predictive Maintenance (PdM) and Condition Based Monitoring (CBM) markets, providing video sensor-based solutions across aviation, transportation, and energy sectors [4] - The company leverages visual technologies and products from the medical industry to enhance its offerings in PdM and CBM use cases [4]
ODYSIGHT.AI AND A MULTINATIONAL TECHNOLOGY GROUP SIGN STRATEGIC COLLABORATION AGREEMENT AIMED TO DEPLOY PREDICTIVE MAINTENANCE CAPABILITIES ACROSS MULTIPLE PLATFORMS
GlobeNewswire News Room· 2025-07-22 12:30
Core Viewpoint - Odysight.AI Inc. has entered a commercial collaboration agreement with a multinational technology group to deploy proof-of-concepts for predictive maintenance technology in heavy vehicles across various sectors, marking a significant expansion beyond aviation [1][4]. Group 1: Collaboration Details - The initial deployment will focus on heavy vehicles in defense, mining, agriculture, and heavy autonomous vehicle sectors [1]. - The collaboration follows successful trials of Odysight.AI's system on a critical aviation component, validating its performance under extreme conditions [2]. - Both parties are exploring expanded deployments in aviation and other sectors, aiming for broader collaborative opportunities [3]. Group 2: Technology and Benefits - The integration of Odysight.AI's solution is expected to enhance platform safety, reduce maintenance demands, lower costs, and improve operational efficiency [3]. - Odysight.AI specializes in Predictive Maintenance (PdM) and Condition Based Monitoring (CBM) markets, utilizing video sensor-based solutions for critical systems in aviation, transportation, and energy [5]. - The company's technology allows visibility into hard-to-reach locations and harsh environments, providing real-time monitoring capabilities [5]. Group 3: Strategic Importance - The partnership reflects a shared commitment to driving smarter, safer, and more sustainable operations across various industries [4]. - The global partner is recognized for innovation and quality in engineered materials and smart solutions, aligning with Odysight.AI's focus on safety and operational efficiency [4].
Odysight.AI (Nasdaq: ODYS) Added to the Russell Microcap® Index
GlobeNewswire· 2025-07-01 12:30
Company Overview - Odysight.AI Inc. is a developer of AI systems for Predictive Maintenance (PdM) and Condition-Based Monitoring (CBM) [1][4] - The company provides video sensor-based solutions for critical systems in aviation, transportation, and energy industries [4] - Odysight.AI leverages visual technologies and products from the medical industry to enhance its offerings [4] Market Position - Odysight.AI was added to the Russell Microcap Index effective June 30, 2025, which enhances its visibility with institutional investors [1][3] - Membership in the Russell Microcap Index is based on market capitalization rankings and remains for one year [2] - Russell indexes serve as benchmarks for approximately $10.6 trillion in assets as of June 2024 [3] Strategic Insights - The CFO of Odysight.AI, Einav Brenner, emphasized that inclusion in the Russell Microcap Index reflects the company's momentum since its Nasdaq listing in February [3] - The recognition is expected to underscore confidence in the company's long-term growth strategy [3] - The company aims to deliver innovation, value, and sustained performance for its stakeholders as it scales [3] Industry Context - FTSE Russell, the global index provider, calculates thousands of indexes that benchmark markets and asset classes globally [6] - Approximately $18.1 trillion is benchmarked to FTSE Russell indexes, indicating the significance of these indexes in the investment landscape [6]
ODYSIGHT.AI is strengthening its European Presence to Accelerate Industry 4.0: received Initial Order from Leading EU Player for AI-Driven industrial predictive health monitoring solutions"
Globenewswire· 2025-06-16 12:30
Core Insights - Odysight.AI Inc. has received an initial order for its Predictive Health Monitoring system aimed at monitoring belts and cables in cranes and elevators across key industrial sectors [1][4] - The AI-driven solution is expected to enhance infrastructure maintenance by improving performance, reliability, and safety while significantly reducing maintenance costs [2][5] - The system utilizes high-resolution cameras and machine learning algorithms for real-time monitoring, enabling early detection of faults and prediction of failures [3][6] Company Overview - Odysight.AI is a pioneer in the Predictive Maintenance and Condition-Based Monitoring markets, leveraging video sensor-based solutions for critical systems in aviation, transportation, and energy industries [7] - The company’s platform allows visibility into hard-to-reach locations and harsh environments, enhancing maintenance and operational capabilities [7] Strategic Collaboration - The partnership with a European industry leader marks a significant step for Odysight.AI, reflecting trust in its ability to deliver advanced solutions [4][6] - The collaboration aims to support smarter, safer, and more efficient infrastructure through real-time intelligence and operational resilience [4][6] Anticipated Benefits - Predictive maintenance and fault prevention through real-time monitoring and AI analytics are expected to extend asset lifespan and prevent critical failures [5][6] - Enhanced safety is anticipated due to continuous oversight of mechanical components, reducing risks for operators and end-users [5][6] - Operational efficiency improvements are expected from predictive insights that support streamlined scheduling and fewer unplanned outages [6]
Odysight.ai to Participate in the 15th Annual ROTH London Conference on June 25 and 26
GlobeNewswire News Room· 2025-06-12 12:30
Company Overview - Odysight.ai Inc. is a leading provider of visual-based predictive maintenance (PdM) and condition-based monitoring (CBM) solutions [1][4] - The company utilizes video sensor-based solutions for critical systems in aviation, transportation, and energy industries, leveraging technologies from the medical field [4] Conference Participation - Odysight.ai will participate in the 15th Annual ROTH London Conference on June 25–26, 2025, in London, U.K. [1] - Einav Brenner, the Chief Financial Officer, will be available for one-on-one investor meetings during the conference [1] ROTH London Conference Insights - The ROTH London Conference serves as a platform for institutional investors to connect with executive leadership from around 70 growth-oriented companies across various sectors [2] - The event is designed to facilitate insightful dialogue through one-on-one and small group meetings, allowing investors to gain deeper insights into business strategies and sector trends [2] ROTH Investment Bank Overview - ROTH is a relationship-driven investment bank that supports growth companies and their investors, offering services such as capital raising, equity research, macroeconomic insights, and M&A advisory [3] - The bank aims to provide innovative and actionable content while supporting clients throughout their growth journey [3]
Odysight.ai Inc(ODYS) - 2025 Q1 - Quarterly Results
2025-05-15 12:10
Exhibit 99.1 Odysight.ai Reports Financial Results for The First Quarter of 2025 and Provides Business Update OMER, Israel, May 15, 2025 – Odysight.ai Inc. (NASDAQ: ODYS), a leading provider of visual based predictive maintenance (PdM) and condition-based monitoring (CBM) solutions, announces its financial results for the three months ended March 31, 2025 and provides a business update. Key highlights Net cash position of approximately $37.2 million as of March 31, 2025. Einav Brenner, Chief Financial Offic ...
Odysight.ai Reports Financial Results for The First Quarter of 2025 and Provides Business Update
Globenewswire· 2025-05-15 12:05
Core Insights - Odysight.ai Inc. reported significant growth in revenues and a strong cash position, indicating progress in its business strategy and operational foundations [4][8][3] Financial Performance - Revenues for the three months ended March 31, 2025, were approximately $2.1 million, a substantial increase from $0.2 million in the same period in 2024, primarily due to a contract with a Fortune 500 medical company [4] - Cost of revenues increased to $1.5 million from $0.4 million year-over-year, driven by contract fulfillment costs and inventory impairment [5] - Gross profit was $0.6 million, reflecting a gross margin of 26%, compared to a gross loss of $0.2 million in the prior year [6] - Operating expenses rose to $5.1 million from $3.1 million, largely due to operational expansion and one-time uplisting expenses [7] - The net loss for the quarter was $4.3 million, compared to a net loss of $3.2 million in the same quarter of 2024 [7] Cash Position and Capital Raise - The company had a net cash position of approximately $37.2 million as of March 31, 2025, up from about $17.0 million a year earlier [2][8] - In February 2025, Odysight.ai uplisted to the Nasdaq Capital Market and raised gross proceeds of approximately $23.7 million through a public offering [8][9] Business Developments - The company has established partnerships, including one with Israel Railways to develop an AI-powered visualization system aimed at enhancing railway safety [9] - An initial purchase order was received from a European partner for a combined industrial solution utilizing Odysight.ai's technology [9] Backlog - The backlog as of March 31, 2025, was approximately $14.8 million, indicating future revenue potential [4][16]