OMER, Israel, Jan. 28, 2026 (GLOBE NEWSWIRE) -- Odysight.ai Inc. (NASDAQ: ODYS), a developer of AI-based monitoring and Predictive Maintenance solutions, announced today that it has received two pilot orders from a major defense customer for monitoring applications on aerial platforms. The first order relates to the integration and evaluation of a computer-vision-based monitoring system on an operational combat helicopter. The pilot program is intended to demonstrate system performance in an operational env ...

Core Viewpoint - Odysight.ai Inc. is set to present at the Sidoti Micro-Cap Conference on January 21, 2026, highlighting its leadership in AI-powered visual sensing and Predictive Maintenance technologies [1] Group 1: Company Overview - Odysight.ai, incorporated in Nevada, operates with European and Israeli subsidiaries, focusing on Predictive Maintenance (PdM) and Condition-Based Monitoring (CBM) markets [2] - The company utilizes an innovative AI platform that enhances critical systems in sectors such as Aviation & Aerospace, Transportation, and Industry [2] - Odysight.ai's technology has been implemented in projects with notable organizations including NASA and the U.S. Department of Defense, resulting in significant improvements in system reliability and maintenance efficiency [2] Group 2: Upcoming Events - The CEO Yehu Ofer and CFO Einav Brenner will present virtually at the Sidoti Micro-Cap Conference on January 21, 2026, at 1:00 p.m. ET [1] - Company management will be available for virtual one-on-one meetings on January 21 and 22, 2026, for interested investors [1]

Core Insights - Odysight.ai Inc. is positioned at the intersection of deep tech, aerospace, defense, and industrial AI, with significant advancements made in the past year due to rising global defense investments and accelerating AI adoption [1][3] Company Strategy and Achievements - The company has a clear strategy focused on enhancing its leadership in aerospace through AI-driven sensors, software, and data analytics, while also expanding into adjacent markets [3][4] - In February 2025, Odysight.ai successfully uplisted to NASDAQ, raising $23.7 million, which strengthened its balance sheet and provided resources for growth initiatives [6] - The company has secured over $14 million in signed contracts, indicating strong demand for its solutions and a robust backlog of business processes nearing contract finalization [6][19] Market Expansion - Odysight.ai is expanding its international presence, particularly in the U.S. and the European Union, by establishing local subsidiaries to enhance customer engagement [9] - The company is pursuing measured expansion into specialized trucks, armored personnel carriers, and industrial applications, driven by regulatory mandates for predictive maintenance [8][19] Technology and Product Development - The company’s technology has been validated through contracts with major defense organizations, including a $10 million contract for UAV systems and ongoing collaboration with NASA [12][14] - Odysight.ai's solutions are operational across various sectors, including military UAVs, railways, and elevator safety, showcasing the versatility and scalability of its technology [13][14] Industry Trends - The global increase in defense budgets and the aging of aviation fleets are driving demand for predictive maintenance solutions, positioning Odysight.ai favorably in the market [19] - The rise of autonomous vehicles necessitates sophisticated monitoring and analytics, aligning with the company's core competencies in AI-driven insights [19]

Financial Performance - Odysight.ai successfully uplisted to NASDAQ in February 2025, raising $23.7 million, resulting in a cash balance of approximately $26 million[4] - The company secured over $14 million in signed contracts with strategic customers, indicating strong demand for its solutions[4] - Odysight.ai's backlog as of December 31, 2025, reflects booked orders based on purchase orders or hard commitments not yet recognized as revenue[22] Technology and Innovation - Odysight.ai's technology is now embedded in multiple UAV platforms, with a contract exceeding $10 million from a top 25 global defense company[7] - The company has received repeat orders from NASA for its systems to be installed on new space vehicles, validating its technology[11] - The global shift towards predictive maintenance and AI-driven analytics aligns with Odysight.ai's core competencies, creating significant market opportunities[4] - The company plans to continue investing in R&D and partnerships to drive innovation and expand its market presence[12] Market Expansion - Odysight.ai is expanding into specialized trucks and armored personnel carriers, driven by regulatory mandates for predictive maintenance in industrial markets[8] - Odysight.ai has established a subsidiary in the European Union and deployed teams in key growth markets, enhancing local presence and customer engagement[9] - Odysight.ai's solutions are operational across various sectors, including aerospace, industrial, and transportation, demonstrating versatility and scalability[11]

Core Insights - Odysight.ai Inc. has successfully developed high-temperature sustainable optical sensors that have passed rigorous trials with a major Southeast Asian Aerospace OEM, marking a significant advancement in visual sensing technology [1][5]. Technology and Performance - The sensor-based solution provided high-resolution imagery in challenging conditions, specifically within oil-filled environments, demonstrating the sensors' ability to operate at temperatures exceeding 100°C and maintain stable performance above 70°C [2][3]. - The miniature optical sensors and algorithms have been validated for their effectiveness in delivering precise visual data despite thermal stress and limited visibility, expanding their applicability to high-power industrial machinery and aerospace systems [3][4]. Market Applications - The technology is poised to enhance real-time visual monitoring and AI-driven predictive maintenance across various sectors, including aerospace, heavy industry, defense, and transportation, by enabling insights from previously inaccessible environments [5][6]. - Odysight.ai's innovations are expected to improve maintenance workflows in mission-critical sectors, contributing to safer and more efficient operations [5][6]. Company Overview - Odysight.ai, incorporated in Nevada with subsidiaries in Europe and Israel, specializes in Predictive Maintenance (PdM) and Condition-Based Monitoring (CBM) markets, leveraging advanced visual sensing and AI-driven analytics [6]. - The company's technology has been deployed in projects with notable organizations such as NASA and the U.S. Department of Defense, showcasing its impact on system reliability and maintenance efficiency [6].

Core Insights - Odysight.ai Inc. has successfully completed a Proof of Concept (POC) project in the global mine truck segment with a major international automotive OEM, showcasing its AI-powered visual sensing and Predictive Maintenance (PdM) solutions [1][4] Group 1: Project Details - The POC involved the installation of Odysight.ai's solution on an 8x4 heavy-duty mine truck chassis, enabling continuous monitoring for structural and mechanical anomalies in harsh operational conditions [2] - The project was conducted over several months at an active mining site in South America, capturing and analyzing real-world visual data [2][3] Group 2: System Performance - The POC demonstrated high-accuracy, real-time detection of structural and mechanical anomalies, indicating the potential for predictive, data-driven maintenance workflows in heavy-industrial trucking fleets [3] - Such capabilities can help fleet operators reduce unplanned downtime, improve safety, and extend the lifecycle of critical assets [3] Group 3: Company Expansion and Strategy - The CEO of Odysight.ai highlighted that this achievement marks a significant step in the company's expansion into heavy-duty vehicle and industrial sectors, emphasizing the versatility and impact of its visual-AI maintenance technologies [4] - The POC strengthens Odysight.ai's presence in automotive and industrial segments, complementing its activities in aerospace and Industry 4.0 [4] Group 4: Company Overview - Odysight.ai, incorporated in Nevada with subsidiaries in Europe and Israel, is a pioneer in the Predictive Maintenance and Condition-Based Monitoring markets, utilizing advanced visual sensing and AI-driven insights [5] - The company's technology has been deployed in projects with notable organizations such as NASA and the U.S. Department of Defense, demonstrating measurable improvements in system reliability and maintenance efficiency [5]

Core Insights - Odysight.ai Inc. has appointed Mr. Eilam Sagi as the Chief Business Officer, bringing over 30 years of experience in various sectors [1][2][6] Company Overview - Odysight.ai specializes in AI-powered visual sensing and Predictive Maintenance (PdM) solutions, targeting industries such as Aviation, Transportation, Energy, and Industry [7] - The company has developed an innovative AI platform that enhances operational efficiency and system reliability, with applications in projects for NASA and the U.S. Department of Defense [7] Leadership Background - Mr. Sagi previously served as VP Asset Management at Enlight Renewable Energy, managing hundreds of millions in annual revenues from renewable energy facilities [3] - He has held significant roles in the Israeli government, including Deputy General Manager at the Ministry of Transportation, overseeing multi-billion dollar infrastructure programs [3][4] - Mr. Sagi has experience in founding a technology start-up focused on AI-driven sensor technologies and has a military background managing substantial defense budgets [4][5] Strategic Vision - The CEO of Odysight.ai emphasized that Mr. Sagi's unique blend of business acumen and operational leadership will be crucial for the company's global growth and strategic collaborations [6] - Mr. Sagi expressed enthusiasm about contributing to the company's mission of transforming maintenance through AI-based visual intelligence, highlighting its potential across various industries [6]

Financial Performance - Revenues for the nine months ended September 30, 2025, were approximately $2.6 million, a slight decrease from $2.7 million for the same period in 2024[6] - Gross profit for the nine months ended September 30, 2025, was $0.7 million, reflecting a gross margin of approximately 27%, compared to a gross margin of approximately 26% in 2024[9] - Net loss for the nine months ended September 30, 2025, was $12.8 million, compared to a net loss of $8.2 million for the same period in 2024[11] - Revenues included $0.7 million from vision-based platform solutions and $1.7 million from released contract liability associated with a former medical customer[7] Cash and Assets - Cash balance as of September 30, 2025, was approximately $29.8 million, up from $13.6 million as of September 30, 2024[11] - Total current assets increased to $31,340,000 as of September 30, 2025, up from $20,787,000 on December 31, 2024, representing a growth of 50.5%[22] - Cash and cash equivalents increased significantly to $29,482,000 as of September 30, 2025, from $18,164,000 on December 31, 2024, marking a growth of 62.2%[22] - Accounts receivable decreased to $354,000 as of September 30, 2025, down from $1,510,000 on December 31, 2024, a decline of 76.6%[22] - Total non-current assets decreased to $1,575,000 as of September 30, 2025, from $2,892,000 on December 31, 2024, a decline of 45.5%[22] Liabilities and Equity - Total liabilities decreased to $3,801,000 as of September 30, 2025, down from $5,435,000 on December 31, 2024, a reduction of 30.1%[22] - Total current liabilities slightly decreased to $3,206,000 as of September 30, 2025, from $3,295,000 on December 31, 2024, a reduction of 2.7%[22] - Shareholders' equity rose to $29,114,000 as of September 30, 2025, compared to $18,244,000 on December 31, 2024, reflecting an increase of 59.8%[22] - Additional paid-in capital increased to $87,827,000 as of September 30, 2025, up from $64,205,000 on December 31, 2024, an increase of 36.7%[22] - The accumulated deficit increased to $(58,730,000) as of September 30, 2025, compared to $(45,974,000) on December 31, 2024, reflecting a worsening of 27.6%[22] - Operating lease liabilities - long term decreased to $309,000 as of September 30, 2025, down from $508,000 on December 31, 2024, a reduction of 39.2%[22] Business Development - Backlog as of September 30, 2025, was approximately $14.2 million, with monetization expected to continue through 2026 and beyond[2] - The company has successfully transitioned to aerospace, transportation, and industrial sectors, marking its first operational footprint in Europe with the Italian Air Force[4] - A strategic partnership was signed to integrate predictive health monitoring systems across various sectors, including defense and agriculture[4] - The company is engaged in advanced negotiations to increase its backlog in the coming months, enhancing its growth outlook[5] Operating Expenses - Operating expenses increased to $14.4 million for the nine months ended September 30, 2025, compared to $9.4 million for the same period in 2024, driven by expansion and new product development[10]

Core Insights - Odysight.ai Inc. has reported financial results for the nine months ending September 30, 2025, indicating a transformative phase with a focus on growth and market adoption of its visual sensing and AI analytics technologies [1][3]. Financial Performance - Revenues for the first nine months of 2025 were approximately $2.6 million, a slight decrease from $2.7 million in the same period of 2024 [7][8]. - The cash balance as of September 30, 2025, was approximately $29.8 million, significantly up from $13.6 million a year earlier [12]. - The backlog stood at approximately $14.2 million as of September 30, 2025, with monetization expected to continue through 2026 and beyond [2][9]. Business Developments - The company has successfully transitioned from the medical device market to aerospace, transportation, and industrial sectors, with commercial aerospace revenues booked in 2025 [4]. - Key achievements include the first operational footprint in Europe with the Italian Air Force and the delivery of a vision-based monitoring system for the Heron TP UAV [4]. - Odysight.ai has signed a strategic partnership to integrate its predictive health monitoring system across various sectors, including defense and heavy vehicles [4]. Operational Highlights - The gross profit for the nine months ended September 30, 2025, was $0.7 million, reflecting a gross margin of approximately 27%, compared to a gross margin of 26% in the previous year [10]. - Operating expenses increased to $14.4 million, up from $9.4 million in the same period of 2024, primarily due to expansion efforts and marketing activities [11]. - The net loss for the nine months was $12.8 million, compared to a net loss of $8.2 million in the prior year [12].

Financial Performance - Revenues for the nine months ended September 30, 2025, amounted to $2,576 thousand, a decrease of 3% compared to $2,660 thousand for the same period in 2024[104] - Revenues for the three months ended September 30, 2025, were $149 thousand, a decrease of 88% from $1.3 million in the same period of 2024[128] - Operating loss for the nine months ended September 30, 2025, was $13.7 million, an increase of 57% from $8.7 million in the same period of 2024[120] - Cash used in operating activities for the nine months ended September 30, 2025, was $9.8 million, compared to $5.5 million for the same period in 2024[123] Expenses - Cost of revenues for the nine months ended September 30, 2025, was $1,882 thousand, a decrease of 4% from $1,964 thousand in 2024[108] - Research and development expenses increased by 56% to $7,322 thousand for the nine months ended September 30, 2025, compared to $4,705 thousand in 2024[112] - Sales and marketing expenses rose by 99% to $1,604 thousand for the nine months ended September 30, 2025, up from $806 thousand in 2024[116] - General and administrative expenses increased by 39% to $5,473 thousand for the nine months ended September 30, 2025, compared to $3,929 thousand in 2024[119] - Research and development expenses for the three months ended September 30, 2025, were $2.5 million, an increase of 43% from $1.7 million in the same period of 2024[135] - General and administrative expenses for the three months ended September 30, 2025, were $1.7 million, an increase of 24% from $1.3 million in the same period of 2024[140] Cash Flow - Cash provided by financing activities for the nine months ended September 30, 2025, was $21.1 million, compared to $9.9 million in the same period of 2024[127] - Cash and cash equivalents as of September 30, 2025, were $29.8 million, an increase from $18.5 million as of December 31, 2024[150] Backlog and Contracts - The backlog as of September 30, 2025, was approximately $14.2 million, primarily reflecting contracts with government clients and defense and aviation companies[98] - Backlog as of September 30, 2025, was approximately $14.2 million, down from $15.0 million as of December 31, 2024[149] - The company fully derecognized a contract liability of $1.7 million associated with a Fortune 500 medical company customer due to the lack of a purchase order for 2025[99] Future Outlook - The company expects an increase in research and development expenses as it continues to focus on new product development and recruitment in the Industry 4.0 domain[114] - The company expects to incur significant commercialization expenses related to product sales, marketing, manufacturing, and distribution[153] - Future operating lease obligations as of September 30, 2025, were approximately $0.9 million[155] External Factors - The ongoing conflict in Israel has not had a material adverse effect on the company's business operations, although some minor disruptions were experienced[102] Product Development - The Odysight TruVision solution has been successfully utilized by NASA, indicating strong interest in the technology across various sectors[97]