Ra'anana, Israel, May 21, 2024 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) (the "Company"), a technology company at the forefront of revolutionizing railway safety and the data-related market, today announced that it has received a notice of allowance from the United States Patent and Trademark Office for its innovative AI-based railway obstacle detection system. This patent outlines an advanced method for enhancing rail safety through the use of electro-optical imaging technologies combined with ar ...

Financial Performance - Revenues for the year ended December 31, 2023, amounted to $142,000, representing a decrease of $279,000 or 66% compared to $421,000 for the year ended December 31, 2022[262]. - Operating loss for the year ended December 31, 2023, was $11,403,000, compared to an operating loss of $10,735,000 for the year ended December 31, 2022, an increase of $668,000 or 6%[265]. - Net loss for the year ended December 31, 2023, was $11,148,000 compared to $10,475,000 for the year ended December 31, 2022, an increase of $673,000 or 6%[267]. - The company has not generated significant revenues and expects to continue incurring substantial operating losses, funding operations primarily through current financial resources and capital raises[289]. Expenses - Research and development expenses for the year ended December 31, 2023, amounted to $7,145,000, representing an increase of $915,000 or 15% compared to $6,230,000 for the year ended December 31, 2022[263]. - General and administrative expenses totaled $4,339,000 for the year ended December 31, 2023, representing an increase of $74,000 or 2% compared to $4,265,000 for the year ended December 31, 2022[264]. - Net cash used in operating activities for the year ended December 31, 2023, was $10,448,000, primarily for salaries and related personnel expenses totaling approximately $7,487,000[270]. Cash Position and Funding - Cash and cash equivalents as of December 31, 2023, were approximately $3.1 million[268]. - As of December 31, 2023, the company's cash and cash equivalents were $3.1 million, indicating a need for substantial additional capital for future operations[288]. - The company has funded operations with approximately $68.7 million from the issuance of shares and warrants since inception[268]. - In January 2024, the company completed a PIPE resulting in aggregate gross proceeds of approximately $3.5 million, including $0.5 million from the partial conversion of a Credit Facility[290]. - The company has exercised 920,000 January 2024 Facility Warrants, resulting in gross proceeds of approximately $0.375 million[281]. - The company issued 493,424 Concurrent Warrants in May 2023, which were exercised on a cashless basis, resulting in the issuance of 181,002 ordinary shares[282]. - The company expects cash and cash equivalents and future cash flow from sales to be sufficient for 12 months of operations, but may seek additional funds in 2024[291]. Contracts and Orders - The company signed a supply contract valued at up to $5,000,000 for AI-based Switch Yard Systems with a US-based rail and leasing services company in January 2024[254]. - A purchase order for a single Main Line System valued at $500,000 was received from a leading Latin American mining company in October 2023[254]. Market and Exchange Rate Impact - Changes of 5% and 10% in the U.S. dollar/NIS exchange rate would increase/decrease operating expenses for the year ended December 31, 2023 by approximately -4.23% and -8.07%, respectively[528]. Initial Public Offering and Obligations - The company completed its initial public offering in April 2022, raising approximately $15.6 million in gross proceeds[285]. - The company has contractual obligations totaling $849,000, with $313,000 due within one year[293].

Exhibit 99.1 Rail Vision Announces Third Quarter 2023 Financial Results RA'ANANA, Israel, Nov. 24, 2023 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) ("Rail Vision" or the "Company"), a development stage technology company seeking to revolutionize railway safety and the data-related market, today reported financial results for the third quarter ended September 30, 2023. Shahar Hania, CEO of Rail Vision, stated, "I would like to begin by expressing our heartfelt sympathies and condolences to all those ...

Rail Vision Ltd. INTERIM CONDENSED FINANCIAL STATEMENTS As of June 30, 2023 Exhibit 99.2 U.S. DOLLARS IN THOUSANDS (Except share and per share data) (UNAUDITED) Rail Vision Ltd. INTERIM CONDENSED FINANCIAL STATEMENTS As of June 30, 2023 U.S. DOLLARS IN THOUSANDS (Except share and per share data) (UNAUDITED) INDEX | | Page | | --- | --- | | INTERIM CONDENSED BALANCE SHEETS | 2 | | UNAUDITED INTERIM CONDENSED STATEMENTS OF COMPREHENSIVE LOSS | 3 | | UNAUDITED INTERIM CONDENSED STATEMENTS OF CHANGES IN TEMPORA ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission ...

Exhibit 99.1 Rail Vision Announces Third Quarter 2022 Financial Results RA'ANANA, Israel, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) ("Rail Vision" or the "Company"), a development stage technology company seeking to revolutionize railway safety and the data-related market, today reported financial results for the third quarter ended September 30, 2022. Third Quarter 2022 & Recent Highlights Third Quarter 2022 Financial Results ● Successfully completed initial testing under long-term ...

Exhibit 99.2 Rail Vision Ltd. INTERIM CONDENSED FINANCIAL STATEMENTS As of June 30, 2022 U.S. DOLLARS IN THOUSANDS (Except share and per share data and exercise prices) (UNAUDITED) Rail Vision Ltd. INTERIM CONDENSED FINANCIAL STATEMENTS As of June 30, 2022 U.S. DOLLARS IN THOUSANDS (Except share and per share data and exercise prices) (UNAUDITED) INDEX | | Page | | --- | --- | | INTERIM CONDENSED BALANCE SHEETS | 1 | | UNAUDITED INTERIM CONDENSED STATEMENTS OF COMPREHENSIVE LOSS | 2 | | UNAUDITED INTERIM CO ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 15 Ha'Tidhar St Ra'anana, 4366517 Israel Tel: +972-9-957-7706 FORM 20-F (Jurisdiction of incorporation or organization) (Address of principal executive of ices) Commission File No.: 001-41334 Shahar Hania Chief Executive Officer 15 Ha'Tidhar St Ra'anana, 4366517 Israel Tel: +972-9-957-7706 Email: marketing@railvision.io RAIL VISION LTD. (Exact name of registrant as specified in its charter) Translation of registrant's name into English: N ...