Core Insights - SaverOne 2014 Ltd. has entered the Canadian market through a distribution agreement with MRF Geosystems, targeting sales of 1,000 units in the first six months [1][2][4] Group 1: Distribution Agreement - The agreement grants MRF Geosystems conditional exclusive rights to sell, install, and support the SaverOne System in Alberta [1][2] - MRF is expected to achieve sales of at least 1,000 units during the six-month exclusivity period [2] - MRF may also market SaverOne's solutions in other Canadian provinces on a non-exclusive basis [2] Group 2: Company Background - SaverOne develops advanced transportation safety solutions aimed at preventing driver distraction caused by mobile phone usage [5][10] - The technology specifically prevents access to distracting applications while allowing essential functions like navigation and calls [5] - The company targets commercial and private vehicle fleets, vehicle manufacturers, and insurance companies [6][10] Group 3: Market Context - Distracted driving is a significant issue, contributing to a substantial number of road accidents, with the annual cost of road accidents in the U.S. estimated at $870 billion [5] - The technology addresses the growing international demand for driver distraction prevention solutions [4] - Upcoming EU regulations are expected to increase demand for cellular distraction monitoring systems in vehicles [6]

[SaverOne 2024 Annual Report](index=1&type=section&id=SaverOne%20Reports%20Full%20Year%202024%20Results) [Management Commentary](index=1&type=section&id=Management%20Comment) The company acknowledges 2024 challenges but highlights significant international progress and future growth from its VRU sensor solution - Despite challenges in the local Israeli market, the company achieved **strong international progress in 2024** and expects a renewed growth trend in 2025[5](index=5&type=chunk) - The company is advancing its VRU sensor solution, with a market analysis projecting a **potential $1.5 billion annual market**[5](index=5&type=chunk) [2024 Highlights and Recent Developments](index=1&type=section&id=Recent%20Highlights) The company expanded globally through new distribution agreements and key customer wins while advancing its VRU sensor business - As of March 20, 2025, **5,400 systems have been ordered** by customers, with approximately 4,000 installed to date[6](index=6&type=chunk) - Expanded international presence by signing **new distribution agreements** in Germany, the UK, Spain/Portugal, and the United States[6](index=6&type=chunk)[8](index=8&type=chunk)[10](index=10&type=chunk) - Achieved a key milestone with the **first U.S. commercial agreement** with a FedEx Trucking Contractor, marking an important step in U.S. market expansion[6](index=6&type=chunk)[8](index=8&type=chunk) - An external market analysis for the company's VRU sensor technology projected an **annual $1.5 billion potential by 2035**, prompting a future spinoff[6](index=6&type=chunk)[16](index=16&type=chunk) - Strengthened its IP portfolio by being granted new patents, bringing its total to **13 granted patents** out of a portfolio of 23[8](index=8&type=chunk) [Financial Performance Analysis](index=4&type=section&id=Financial%20Summary%20for%202024) Financial results show a strategic shift to international markets, with improved gross margin despite lower revenue and a wider net loss [Financial Summary](index=4&type=section&id=Financial%20Summary%20for%202024) Revenues decreased due to local challenges, but gross margin improved and international revenue share grew significantly to 29% | Metric | 2024 | 2023 | | :--- | :--- | :--- | | **Revenues** | NIS 1.68M (~$461k) | NIS 2.72M (~$747k) | | **Gross Profit** | NIS 0.61M (~$169k) | NIS 0.75M (~$206k) | | **Gross Margin** | 36.5% | 27.6% | | **Operating Loss** | NIS 33.3M (~$9.1M) | NIS 34.2M (~$9.4M) | | **Net Loss** | NIS 34.9M (~$9.6M) | NIS 33.8M (~$9.3M) | - Revenue from outside Israel grew to **29% of total revenue** in 2024, a significant increase from 7% in 2023, highlighting progress in the international expansion strategy[6](index=6&type=chunk)[11](index=11&type=chunk) - Cash and cash equivalents **decreased to NIS 13.3 million** as of December 31, 2024, from NIS 17.1 million at the end of 2023[6](index=6&type=chunk)[17](index=17&type=chunk) [Statements of Financial Position](index=7&type=section&id=STATEMENTS%20OF%20FINANCIAL%20POSITION) The company's balance sheet reflects a decrease in total assets and liabilities, while shareholders' equity remained stable | Balance Sheet (NIS thousands) | As of Dec 31, 2024 | As of Dec 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | 23,818 | 26,990 | | Total Current Assets | 21,618 | 24,209 | | **Total Liabilities** | 13,188 | 16,418 | | Total Current Liabilities | 11,861 | 14,804 | | **Total Shareholders' Equity** | 10,630 | 10,572 | [Statements of Comprehensive Loss](index=8&type=section&id=STATEMENTS%20OF%20COMPREHENSIVE%20LOSS) The company reported a slightly increased net loss, though loss per share improved due to a higher number of outstanding shares | Income Statement (NIS thousands) | Year Ended Dec 31, 2024 | Year Ended Dec 31, 2023 | | :--- | :--- | :--- | | **Revenues** | 1,683 | 2,720 | | **Gross Profit** | 614 | 752 | | **Operating Loss** | (33,252) | (34,223) | | **Net Loss** | (34,938) | (33,835) | | Per Share Data | 2024 | 2023 | | :--- | :--- | :--- | | **Basic and diluted loss per share (NIS)** | (0.30) | (1.08) | | **Weighted average shares** | 117,908,475 | 31,380,359 | [Company and Product Overview](index=5&type=section&id=About%20the%20SaverOne%20System) The company designs solutions to prevent vehicle accidents, focusing on a driver distraction system and a new VRU detection sensor - SaverOne's core product prevents driver distraction by **recognizing the driver's area and blocking distracting mobile apps** while allowing essential functions[19](index=19&type=chunk) - The company is developing a sensor system to detect Vulnerable Road Users (VRUs) by **tracking their cellphone footprint** under all visibility conditions[23](index=23&type=chunk) - The go-to-market strategy includes both **aftermarket sales to fleets and OEM partnerships** for factory installation[21](index=21&type=chunk) - Primary target markets include commercial fleets, vehicle manufacturers, and insurance companies in **Israel, Europe, and the US**[20](index=20&type=chunk) [Forward-Looking Statements](index=6&type=section&id=Forward%20Looking%20Statements) This section cautions that projections are subject to significant risks, including capital needs and geopolitical instability - The report's forward-looking statements are subject to inherent risks, and **actual results may differ materially** from expectations[24](index=24&type=chunk) - Key risks identified include the ability to raise necessary capital, the **'going concern' qualification** in the 2024 financial statements, and political instability in the Middle East[24](index=24&type=chunk)

Core Insights - SaverOne 2014 Ltd. faced challenges in 2024 due to long sales cycles in Israel but achieved significant international success, particularly in Europe and the United States, marking 2024 as an inflection point for global expansion [4][6] - The company is developing a VRU sensor solution with an estimated market potential of $1.5 billion annually by 2035, indicating strong long-term growth prospects [4][6] Financial Highlights for 2024 - Revenues decreased to NIS 1.68 million (~$461 thousand) from NIS 2.72 million (~$747 thousand) in 2023, primarily due to reduced sales in Israel amid ongoing regional conflict [9][10] - 29% of revenues were generated from non-home market sources, a significant increase from 7% in the previous year [6][10] - Gross profit was NIS 614 thousand (~$169 thousand), with a gross margin improvement to 36.5% from 27.6% in 2023 [6][10] - Net loss increased slightly to NIS 34.9 million (~$9.6 million) from NIS 33.8 million (~$9.3 million) in 2023 [6][12] Recent Developments - As of March 20, 2025, 5,400 systems have been ordered, with approximately 4,000 installed [6] - New distribution agreements were signed in Germany, the UK, and Spain/Portugal, expanding the company's international reach [6][8] - The company announced a spinoff dedicated to the development of its VRU sensor solution, reflecting its commitment to innovation and market potential [6][14] Market Expansion and Partnerships - SaverOne's U.S. distribution partner secured its first customer, FedEx Trucking Contractor MDM Express, marking a significant milestone in U.S. market expansion [7][8] - The company is also deploying its driver distraction prevention system across various fleets, including Teva Pharmaceutical's and Oz Group's vehicles [8][9] - New pilot projects have been launched with major logistics and transportation companies in Italy and Mexico, showcasing the technology's adaptability and growth potential [8][9]

Core Insights - SaverOne 2014 Ltd. faced challenges in 2024 due to long sales cycles in Israel but achieved significant international success, particularly in Europe and the United States, marking 2024 as an inflection point for global expansion [4][6] - The company is developing a VRU sensor solution with a projected annual market potential of $1.5 billion by 2035, indicating strong long-term growth prospects [4][6][10] Financial Highlights for 2024 - Revenues decreased to NIS 1.68 million (~$461 thousand) from NIS 2.72 million (~$747 thousand) in 2023, primarily due to reduced sales in Israel amid ongoing regional conflict [10][11] - Gross profit improved to NIS 614 thousand (~$169 thousand) with a gross margin of 36.5%, up from 27.6% in the previous year [11][12] - Net loss increased slightly to NIS 34.9 million (~$9.6 million) compared to NIS 33.8 million (~$9.3 million) in 2023 [13][14] Recent Developments - As of March 20, 2025, SaverOne has received orders for 5,400 systems, with approximately 4,000 already installed [6] - The company signed new distribution agreements in Germany, the UK, and Spain/Portugal, expanding its international presence [6][8] - Notable partnerships include a commercial agreement with FedEx Trucking Contractor MDM Express and installations in Teva Pharmaceutical's truck fleet [7][8] Market Potential and Strategy - The VRU sensor technology is expected to address the critical issue of detecting vulnerable road users, with significant interest from OEMs and tier-one suppliers [4][6] - SaverOne's strategy includes expanding its global footprint through partnerships and pilot projects, particularly in Europe and the US [6][8][10] - The company plans to spin off a dedicated entity for further development of its VRU sensor solution, indicating a focused approach to capitalize on market opportunities [6][10]

Financial Performance - Total revenue decreased by NIS 1,037 thousand (~ $284 thousand), or 38%, to NIS 1,683 thousand (~ $461 thousand) for the year ended December 31, 2024, compared to NIS 2,720 thousand (~ $746 thousand) for the year ended December 31, 2023[299]. - Cost of revenues decreased by NIS 899 thousand (~ $247 thousand), or 46%, to NIS 1,069 thousand (~ $293 thousand) for the year ended December 31, 2024, compared to NIS 1,968 thousand (~ $540 thousand) for the year ended December 31, 2023[300]. - Research and development expenses, net decreased by NIS 3,464 thousand (~ $950 thousand), or 15%, to NIS 19,397 thousand (~ $5,319 thousand) for the year ended December 31, 2024, compared to NIS 22,861 thousand (~ $6,268 thousand) for the year ended December 31, 2023[301]. - Selling and marketing expenses increased by NIS 1,009 thousand (~ $277 thousand), or 27%, to NIS 4,796 thousand (~ $1,315 thousand) for the year ended December 31, 2024, compared to NIS 3,787 thousand (~ $1,038 thousand) for the year ended December 31, 2023[302]. - General and administrative expenses increased by NIS 1,346 thousand (~ $369 thousand), or 16%, to NIS 9,673 thousand (~ $2,652 thousand) for the year ended December 31, 2024, compared to NIS 8,327 thousand (~ $2,283 thousand) for the year ended December 31, 2023[303]. - Net loss increased by NIS 1,103 thousand (~ $302 thousand), or 3%, to NIS 34,938 thousand (~ $9,580 thousand) for the year ended December 31, 2024, compared to NIS 33,835 thousand (~ $9,277 thousand) for the year ended December 31, 2023[305]. - For the year ended December 31, 2024, the company reported a comprehensive loss of approximately $9.4 million (NIS 34.4 million) and negative cash flow from operating activities of approximately $9.4 million (NIS 34.9 million)[314]. Cash and Financing Activities - As of December 31, 2024, the company had cash and cash equivalents of approximately $3.64 million (NIS 13.3 million) and an accumulated deficit of approximately $46.1 million (NIS 170.5 million)[312][314]. - Net cash used in operating activities decreased by approximately $168 thousand (NIS 614 thousand), or 2%, to approximately $9.43 million (NIS 34.406 million) for the year ended December 31, 2024[326]. - Net cash provided by financing activities increased by approximately $2.21 million (NIS 8.045 million), or 36%, to approximately $8.37 million (NIS 30.535 million) for the year ended December 31, 2024[328]. - On June 25, 2024, the company raised approximately $1.13 million through the issuance of 12,555,555 ordinary shares[319]. - The company entered into a SEPA with Yorkville, committing to purchase up to $15 million of ADSs over a three-year period[320]. - As of the date of the annual report, the company had issued an aggregate of approximately $5.84 million in ordinary shares to YA as Advance Shares[321]. - On January 31, 2025, the company sold an aggregate of 195,428,970 ordinary shares at an offering price of $9.331 per ADS, raising approximately $1.5 million[324]. Market and Product Development - The global automotive RF-sensor market for VRU detection is projected to potentially reach $1.5 billion annually by 2035[284]. - Approximately 5,400 systems have been ordered as of March 19, 2025, with about 4,000 systems installed[280]. - The second-generation DDPS product was released in Q4 2022 and is intended for the global automobile market, with significant improvements over the first generation[281]. Risks and Challenges - The company anticipates continuing to incur net losses for the foreseeable future as it develops and commercializes its products[317]. - The company has identified material weaknesses in its internal control over financial reporting and is taking steps to address these issues[310]. - A 5% change in the U.S. dollar/NIS exchange rate would increase/decrease operating expenses by approximately 1% for the year ended December 31, 2024[500]. - The exchange rate between the U.S. dollar and the NIS increased by 0.5% during the year ended December 31, 2024, and by 3% during the year ended December 31, 2023[501]. - The company does not hedge foreign currency exchange risk currently but may consider formal currency hedging transactions in the future[500]. - The company assesses credit risk primarily through the quality of customers and recognizes provisions for credit losses based on specific customers not meeting payment terms[495]. - The company believes minimal credit risk exists with cash and cash equivalents held at a major financial institution in Israel[494]. - The company does not believe that changes in equity prices pose a material risk to its holdings, but a decrease in market price could affect future fundraising[496]. - The company is exposed to risks from changes in the quoted price of warrants issued during its IPO, which are treated as a derivative financial liability[497]. - The company does not expect inflation to materially affect its business or financial condition in the reporting period[499]. - The company may face challenges in offsetting higher costs due to inflationary pressures through hedging transactions[499].

Core Insights - SaverOne 2014 Ltd. has been granted a new patent by the USPTO, which is the 13th patent out of a total of 23 in its portfolio, aimed at limiting mobile phone use while driving [1][2][3] - The newly issued patent enhances SaverOne's in-vehicle safety solution by restricting driver access to certain mobile applications, thereby promoting road safety [1][4] - The company targets commercial and private vehicle fleets, vehicle manufacturers, and insurance companies, with a focus on markets in Israel, Europe, and the US [5][6] Patent and Intellectual Property - The new patent, numbered 12,231,899, was issued on February 18, 2025, and is part of SaverOne's strategy to strengthen its intellectual property portfolio [1][2] - SaverOne's patent portfolio now consists of 23 patents, with 13 granted and 10 pending, filed in key markets including Europe, the US, China, Israel, and the UK [2][3] Market Context and Strategy - The technology addresses the significant issue of driver distraction due to mobile phone use, which is a leading cause of road accidents, with the annual cost of road accidents in the US estimated at $870 billion [4] - The company anticipates that upcoming EU regulations will positively impact the demand for its distraction prevention systems [5] - SaverOne's strategy includes providing technology to aftermarket customers and collaborating with OEM vehicle manufacturers for integration during the manufacturing process [6]

Core Points - SaverOne 2014 Ltd. is facing potential delisting from Nasdaq due to non-compliance with the minimum bid price requirement of $1.00 per share, following a reverse stock split within the past year [1] - The company plans to appeal this determination by requesting a hearing before the Nasdaq Hearings Panel, which will temporarily stay the suspension of its securities [2] - As of February 21, 2025, SaverOne implemented a change in the ratio of its American Depositary Shares (ADS) to ordinary shares, resulting in a closing bid price of over $1.00 [3] Company Compliance and Listing Status - The company is not eligible for the standard 180-day compliance period due to the recent reverse stock split, which complicates its ability to regain compliance with Nasdaq listing rules [1][4] - SaverOne intends to present a compliance plan to the Nasdaq Hearings Panel, although there is no guarantee that the plan will be accepted or that the company will meet continued listing requirements [4] Business Overview - SaverOne's technology aims to reduce driver distraction caused by mobile phone usage, which is a significant contributor to road accidents, with the annual cost of such accidents in the U.S. estimated at $870 billion [5] - The primary target markets for SaverOne include commercial and private vehicle fleets, vehicle manufacturers, and insurance and leasing companies, with a focus on the Israeli, European, and U.S. markets [6] - The company is also developing a sensor system for detecting vulnerable road users through their cellphone footprint, enhancing vehicle safety [8]

Core Insights - Teva Pharmaceutical Industries Ltd. has awarded a contract to SaverOne 2014 Ltd. to install the SaverOne System across its fleet of 50 delivery trucks in Israel, following a successful initial deployment in 14 trucks [1][3] Company Overview - Teva is a multinational pharmaceutical company and one of the largest generic drug manufacturers globally, operating a supply chain across more than 60 countries [2] - SaverOne is a technology company focused on developing solutions to reduce vehicle accidents caused by driver distraction, particularly from mobile phone use [7][8] Technology and Market Potential - The SaverOne System addresses driver distraction by preventing access to distracting applications while allowing essential functions like navigation, thereby enhancing road safety [4] - The annual cost of road accidents in the U.S. is approximately $870 billion, with a significant portion attributed to mobile phone use while driving [4] - SaverOne targets commercial and private vehicle fleets, vehicle manufacturers, and insurance companies, with a focus on markets in Israel, Europe, and the U.S. [5] Strategic Goals - The company aims to provide its technology to both aftermarket customers and original equipment manufacturers (OEMs) to integrate safety solutions during vehicle manufacturing [6] - There is an anticipated increase in demand for SaverOne's systems due to expected EU regulations focusing on monitoring and preventing cellular distraction in vehicles [5]

Group 1 - Teva Pharmaceutical Industries Ltd. has awarded a contract to SaverOne 2014 Ltd. to install the SaverOne System across its fleet of 50 delivery trucks in Israel, following a successful initial deployment in 14 trucks [1][3] - Teva is a multinational pharmaceutical company and one of the largest generic drug manufacturers globally, operating a supply chain across more than 60 countries [2] - The SaverOne System aims to prevent driver distractions caused by mobile phone usage, which is a leading cause of road accidents, with the US National Highway Traffic Safety Administration estimating the annual cost of road accidents in the US at approximately $870 billion [4] Group 2 - SaverOne's technology specifically targets commercial and private vehicle fleets, vehicle manufacturers, and insurance companies, with a focus on reducing costs associated with accidents and damages [5] - The company plans to expand its market presence in Israel, Europe, and the US, anticipating increased demand for its systems due to upcoming EU regulations on cellular distraction monitoring [5] - SaverOne's strategy includes providing technology to aftermarket customers and collaborating with OEM vehicle manufacturers to integrate safety solutions during the manufacturing process [6]

Core Viewpoint - SaverOne 2014 Ltd. has announced a registered direct offering of 2,171,433 American Depositary Shares (ADSs) at a price of $0.70 per ADS, along with a concurrent private placement of short-term warrants to purchase up to 4,342,866 ADSs at an exercise price of $0.80 per ADS [1][2] Group 1: Offering Details - The total gross proceeds from the offering are expected to be $1.5 million before deducting fees and expenses [2] - The closing of the offering is anticipated to occur on or about January 31, 2025, subject to customary closing conditions [1] - The ADSs are being offered under a "shelf" registration statement that became effective on September 27, 2023 [3] Group 2: Use of Proceeds - The net proceeds from the offering are intended for working capital and other general corporate purposes [2] Group 3: Warrant Information - The short-term warrants will become exercisable upon shareholder approval to increase the number of authorized ordinary shares and will expire twenty-four months after issuance [1] - The short-term warrants and the underlying ADSs have not been registered under the Securities Act, and a registration statement will be filed within 45 days of the offering's closing [4] Group 4: Company Overview - SaverOne is a technology company focused on developing solutions to reduce vehicle accidents, particularly those caused by mobile phone distractions while driving [6][7] - The company is also working on a sensor system for detecting vulnerable road users through their cellphone footprint [7]