OMER, Israel, Dec. 15, 2025 (GLOBE NEWSWIRE) -- Odysight.ai Inc. (NASDAQ: ODYS), a leader in AI-powered visual sensing and Predictive Maintenance (PdM) technologies, today announced that its next generation of high-temperature sustainable optical sensors has successfully passed a series of demanding trials with a major Southeast Asian Aerospace OEM. During the evaluation, the sensor-based solution delivered high-resolution imagery of a critical component, fully immersed in oil, a notoriously challenging env ...

OMER, Israel, Dec. 04, 2025 (GLOBE NEWSWIRE) -- Odysight.ai Inc. (NASDAQ: ODYS), a leader in AI-powered visual sensing and Predictive Maintenance (PdM) solutions, announces the successful completion of a Proof of Concept (POC) project in the global mine truck segment conducted with a major international automotive OEM. As part of the evaluation, Odysight.ai’s solution was installed on an 8x4 heavy-duty mine truck chassis. The system was fully integrated into the vehicle’s structural framework to enable cont ...

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]

Core Insights - Odysight.ai Inc. has received a purchase order for 200 Industrial Predictive Monitoring Systems, marking its entry into the commercial market for industrial sensing solutions [1][2][4] - The company’s technology has successfully transitioned from pilot testing to commercial rollout, indicating strong market potential and scalability [2][5] - The global market for predictive maintenance in industrial applications is projected to grow from approximately $87 billion in 2025 to about $126 billion by 2034, driven by advancements in smart cities and industrial infrastructure [2] Company Overview - Odysight.ai specializes in AI-powered visual sensing and Predictive Maintenance (PdM) solutions, with applications across various sectors including aviation, transportation, and energy [6] - The company has established a strong presence in the Industry 4.0 ecosystem, enhancing operational safety and efficiency through real-time monitoring and data-driven maintenance [3][5] - Odysight.ai has previously collaborated with notable organizations such as NASA and the U.S. Department of Defense, demonstrating its technology's reliability and effectiveness [6] Market Potential - The successful order signifies a positive outlook for broader market adoption of Odysight.ai's technology, with potential applications extending beyond elevator systems to various industrial sectors [4][5] - The company is well-positioned to capture a significant share of the expanding predictive maintenance market, with opportunities for both initial deployments and ongoing service agreements [4][5]

Core Insights - Odysight.ai Inc. is actively participating in upcoming investor conferences to engage with potential investors and stakeholders [1][2] Company Overview - Odysight.ai is a leading provider of visual-based Predictive Maintenance (PdM) and Condition-Based Monitoring (CBM) solutions, with a focus on transforming critical systems across various industries including Aviation & Aerospace, Transportation, Energy, and Industry [3] - The company utilizes advanced visual sensing, real-time analytics, and AI-driven insights to enhance operational safety, intelligence, and efficiency [3] - Odysight.ai has collaborated with notable organizations such as NASA and the U.S. Department of Defense, demonstrating its technology's effectiveness in improving system reliability and maintenance efficiency [3] Upcoming Events - The company will participate in the 14th Annual ROTH Technology Conference on November 19, 2025, with CFO Einav Brenner attending for in-person one-on-one meetings in New York City [1] - Additionally, Odysight.ai will be present at the Benchmark 14th Annual Discovery One-on-One Investor Conference on December 4, 2025, with both CEO Yehu Ofer and CFO Einav Brenner participating [2]

Core Insights - Odysight.ai Inc. has successfully completed its first European flight test of the Odysight.ai TruVision® technology on an AW139 Leonardo helicopter operated by the Italian Air Force, marking a significant milestone in the company's expansion into Europe [1][2][4] Company Overview - Odysight.ai is a leading provider of visual-based Predictive Maintenance (PdM) and Condition-Based Monitoring (CBM) solutions, with a focus on transforming critical systems across various sectors including Aviation & Aerospace, Transportation, Energy, and Industry [5] - The company leverages advanced visual sensing, real-time analytics, and AI-driven insights to enhance operational safety, efficiency, and reliability [5] Market Potential - The AW139 helicopter, a best-selling twin-engine platform, has a market potential of over 1,000 units in service worldwide, indicating significant opportunities for Odysight.ai's technology in both civil and defense applications [3] Strategic Partnerships - The flight test was conducted in collaboration with SIPAL, a prominent Italian engineering company, and the Italian Air Force Flight Test Unit, showcasing the company's ability to integrate its technology within established aerospace ecosystems [2][4] Future Outlook - The successful demonstration of Odysight.ai's technology on a European platform is expected to reinforce the company's transition towards predictive, data-driven maintenance solutions, further solidifying its presence in the European helicopter market [4]

Core Insights - Odysight.AI Inc. is a developer of AI systems focused on Predictive Maintenance (PdM) and Condition-Based Monitoring (CBM) [1][3] - The CEO, Yehu Ofer, will present at the LD Micro Main Event XIX on October 20, 2025, in San Diego, CA [1] - The company offers video sensor-based solutions for critical systems in aviation, transportation, and energy industries [3] Company Overview - Odysight.AI leverages visual technologies and products from the medical industry to enhance its PdM and CBM offerings [3] - The company's unique video-based sensors and AI algorithms are designed for deployment in challenging environments and hard-to-reach locations [3] - The platform provides maintenance and operations teams with visibility into areas that are typically inaccessible or unsuitable for continuous monitoring [3] Investor Engagement - Yehu Ofer will be available for one-on-one investor meetings on October 20 and 21, 2025 [2] - Interested parties can schedule meetings through LD Micro or contact Miri Segal for arrangements [2]