200 SaverOne systems to be installed in the subsidiary in Spain Petah Tikvah, Israel, Nov. 19, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company that develops and sells advanced transportation safety solutions, today announced that following the press release issued on September 6, 2023, and following the successful completion of a pilot, a commercial agreement was signed with the Spanish subsidiary of a multinational company in the construction sector. Under the a ...

SaverOne accelerates its European expansion as part of its global growth strategy Petah Tikvah, Israel, Oct. 09, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company that develops and sells advanced transportation safety solutions, announced today the signing of a new distribution agreement in Spain and Portugal with Sistemas ADAS, a leading distributor in transportation safety solutions, advanced driver assistance systems (ADAS) and telematics. This new distribution ...

Core Insights - SaverOne 2014 Ltd. has announced an extension of its agreement with Froneri to update and equip SaverOne systems across Froneri's entire fleet in Israel, highlighting the effectiveness of SaverOne's technology in enhancing transportation safety [1][3] Company Overview - SaverOne is a technology company focused on developing and selling advanced transportation safety solutions, particularly aimed at reducing driver distraction caused by mobile phone usage [4][8] - The company targets commercial and private vehicle fleets, including public transportation, vehicle manufacturers, and insurance companies, with a focus on markets in Israel, Europe, and the US [5] Technology and Solutions - SaverOne's system addresses driver distraction by preventing access to distracting applications while allowing essential functions like navigation and calls, thereby creating a safer driving environment [4] - The company has developed a Vulnerable Road User (VRU) solution that enhances Advanced Driver Assistance System (ADAS) sensors, improving detection of pedestrians and cyclists in various conditions [7] Market Potential - The annual cost of road accidents in the US is approximately $870 billion, with a significant portion attributed to mobile phone usage while driving, indicating a substantial market opportunity for SaverOne's solutions [4] - Upcoming EU regulations are expected to increase demand for cellular distraction monitoring systems, which could positively impact SaverOne's sales [5]

Expands SaverOne's product line with potential for future revenue growth Petah Tikvah, Israel, Aug. 27, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company specializing in transportation safety solutions, today announced a strategic asset purchase agreement for Micronet Ltd.'s (TASE: MCRNT) Generation-3 camera products and intellectual property (IP). Micronet is a developer of advanced telematics systems, cameras, and Driver Monitoring Systems (DMS). This acquisition ...

PETAH TIKVAH, Israel, Aug. 27, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a company developing and deploying transportation safety and advanced driver-assistance systems (ADAS) technologies and solutions, today presented its results for the first half ended June 30, 2024 and shared recent business updates. Recent Highlights Significant reduction in first half operating expenses of NIS 2.3 million ($612 thousand), reducing operating loss and cash burn; 4,800 systems have been ord ...

Petah Tikvah, Israel, July 31, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (NASDAQ:SVRE, TASE: SVRE))), a technology company engaged in disruptive transportation safety solutions, today announced the successful completion of a pilot of SaverOne Systems' on the customer's trucks, an integral part of their supply chain in Israel. The customer subsequently ordered the SaverOne System, which will be installed on 46 trucks. Mr. Ori Gilboa, CEO of SaverOne commented, "We are pleased that our pilot installation in ...

Petah Tikvah, Israel, July 02, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (NASDAQ:SVRE, TASE: SVRE))), a technology company engaged in disruptive transportation safety solutions, today announced a new order of 50 SaverOne Systems from the Israeli subsidiary of one of the world's top food manufacturers, for installation in their employee vehicles. Mr. Ori Gilboa, CEO of SaverOne commented, "We are very pleased with this follow-on order, especially from such a valued and strategic customer. This order unders ...

Announces Spinoff Company Dedicated to Further Developing its VRU Sensor Solution Leveraging this Technology An investor presentation detailing the VRU solution and the market analysis have been made publicly available on SaverOne's website at the link: http://ir.saver.one and has been filed with the SEC. Ori Gilboa, CEO of SaverOne, commented, "We are thrilled to take this significant step forward with the establishment of a company to house our VRU project. The consultancy firm's findings, showing an annu ...

Announces Spinoff Company Dedicated to Further Developing its VRU Sensor Solution Leveraging this Technology Petah Tikvah, Israel, June 03, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, is pleased to announce that it will establish a new company dedicated to its Vulnerable Road User (VRU) solution which leverages its RF Advanced Driver Assistance System (ADAS) sensor technology. This strategic move follows ...

Revenue and Profitability - Revenue for 2023 increased by 128% year-over-year to NIS 2.7 million (~$0.75 million) compared to NIS 1.193 million (~$0.329 million) in 2022[4] - Gross profit in 2023 was NIS 0.752 million (~$0.207 million), representing a gross margin of 27.6%, up from NIS 0.364 million (~$0.1 million) and a gross margin of 30.5% in 2022[9] - Total revenues for 2023 reached $2,720 million, a significant increase of 128% compared to $1,193 million in 2022[26] - Gross profit for the year was $752 million, up from $364 million in 2022, reflecting a gross margin improvement[26] - The company reported a comprehensive loss of $33,835 million for 2023, compared to a loss of $24,962 million in 2022[26] - Basic and diluted loss per share improved slightly to $(1.08) in 2023 from $(1.44) in 2022, reflecting a reduction in loss per share despite overall losses[26] Expenses and Financial Position - Net loss for 2023 was NIS 33.8 million (~$9.3 million), compared to NIS 25.0 million (~$6.9 million) in 2022, attributed to increased expenses from expanded business activities[4] - Research and development expenses for 2023 were NIS 22.9 million (~$6.3 million), compared to NIS 21.5 million (~$5.9 million) in 2022[9] - Operating loss widened to $34,223 million in 2023 from $29,209 million in 2022, indicating increased operational challenges[26] - Cash and cash equivalents decreased to $17,112 million at the end of 2023 from $19,240 million at the end of 2022[27] - Total current liabilities surged to $14,804 million in 2023, compared to $6,781 million in 2022, highlighting increased financial obligations[26] - Net cash used in operating activities was $35,020 million in 2023, an increase from $28,370 million in 2022, indicating higher cash outflows[27] - Total assets decreased to $26,990 million in 2023 from $34,435 million in 2022, reflecting a decline in the company's asset base[26] Business Development and Market Presence - 4,600 systems have been ordered by customers as of March 12, 2024, with approximately 3,200 already installed[4] - The company signed its first OEM agreement with Volvo Bus Corporation, allowing for the installation of its safety solution in new and existing buses in Mexico[12] - In 2023, 93% of revenues were generated from Israel, while 7% came from Europe, marking the company's first international revenue[8] - The company launched several pilot projects in Europe and North America, including a significant pilot with Cemex in Spain covering ten trucks[7] - SaverOne's patent portfolio now includes 23 patents, with 10 granted and 13 pending, reflecting its strategic focus on global expansion[7]