Rail Vision(RVSN) - 2025 Q2 - Quarterly Report

Financial Performance - Revenues for the six months ended June 30, 2025, were $237,000, a decline of 68.8% compared to $761,000 for the same period in 2024[7] - The net loss for the period was $5,679,000, significantly reduced from a net loss of $24,324,000 in the prior year, representing a 76.6% improvement[7] - Basic and diluted loss per share improved to $(0.11) from $(1.99) in the same period last year[7] Assets and Equity - As of June 30, 2025, Rail Vision Ltd. reported total assets of $25,370,000, an increase of 23.5% from $20,597,000 as of December 31, 2024[5] - Cash and cash equivalents at the end of the period were $22,431,000, up from $17,238,000 at the end of 2024, reflecting a 30.5% increase[5] - Total shareholders' equity increased to $22,694,000 as of June 30, 2025, compared to $17,702,000 at the end of 2024, marking a 28.3% increase[5] Research and Development - Research and development expenses increased to $3,241,000, up 31.7% from $2,458,000 in the same period last year[7] - Rail Vision Ltd. continues to focus on the development of railway detection systems aimed at enhancing operational safety and efficiency[15] Fundraising and Share Issuance - The company raised approximately $11.3 million during the reported period through share issuances and warrant exercises[19] - The Company entered into a Standby Equity Purchase Agreement allowing Yorkville to purchase up to $30 million of ordinary shares, with 22,210,892 shares issued under the SEPA for total gross proceeds of approximately $18,308[28][29] - During the six-month period ended June 30, 2025, the Company sold 308,987 ordinary shares under the ATM Sales Agreement, generating gross proceeds of approximately $130 thousand[32] - As of June 30, 2025, a total of 17,170,000 Facility Warrants had been exercised, generating gross proceeds of approximately $7,005, of which $2,428 was received during the six-month period ended June 30, 2025[27] Management Changes - Mr. David BenDavid was appointed as Chief Executive Officer on April 24, 2025, succeeding Mr. Shahar Hania[34] Strategic Partnerships - The Company signed a Memorandum of Understanding with Sujan Ventures to introduce advanced safety systems to the Indian market, with an initial trial planned[24] Operational Outlook - The company anticipates that its cash and cash equivalents will be sufficient for more than 12 months of operations based on the current burn rate[19] - In April 2025, the Company granted 2,934,000 restricted share units to employees, with an expense of $273 recorded for the six months ended June 30, 2025[33]