Rafael(US:RFL)2025-12-12 02:46Revenue Performance - Rafael Holdings reported a 100% increase in product revenue for the Healthcare segment, reaching approximately $0.2 million for the three months ended October 31, 2025, compared to $0 for the same period in 2024[268]. - The Infusion Technology segment reported a 100% decrease in revenue, falling to $0 for the three months ended October 31, 2025, compared to $51,000 in the same period in 2024[271]. - The Real Estate segment generated rental income of $56,000 from third parties, reflecting a 12% increase compared to $50,000 in the prior year[273]. - Revenue from tenants located in Israel represented 36% of consolidated revenues for the three months ended October 31, 2025, down from 60% in 2024[293]. Expenses - Research and development expenses surged by 545% to $7.5 million for the Healthcare segment in the three months ended October 31, 2025, primarily due to the consolidation of Cyclo's expenses[267]. - General and administrative expenses for the Healthcare segment increased by 20% to $2.8 million, largely due to the inclusion of Cyclo's expenses[269]. - General and administrative expenses in the Real Estate segment decreased by 53% to $57,000, primarily due to reduced real estate taxes[273]. - Consolidated net loss for the three months ended October 31, 2025, was $9.8 million, a 6% increase from the net loss of $9.2 million in the same period of 2024[274]. - Loss from operations increased by 164% to $10.1 million for the three months ended October 31, 2025, compared to a loss of $3.8 million in 2024[274]. - Interest income decreased by 30% to $0.4 million for the three months ended October 31, 2025, compared to $0.6 million in 2024[274]. Cash Flow and Working Capital - Cash and cash equivalents decreased by 14% to $45.5 million as of October 31, 2025, down from $52.8 million on July 31, 2025[282]. - Working capital decreased by 20% to $36.2 million as of October 31, 2025, compared to $45.1 million on July 31, 2025[282]. - Cash used in operating activities was $6.8 million for the three months ended October 31, 2025, a 124% increase from $3.0 million used in the same period of 2024[284]. - Cash flows from investing activities for the three months ended October 31, 2025, included a purchase of preferred shares for $0.5 million[286]. Assets and Holdings - Total assets decreased by 8% to $105.4 million as of October 31, 2025, from $114.1 million on July 31, 2025[282]. - Rafael Holdings holds a 95% interest in LipoMedix and a 67% interest in Cornerstone, with ongoing evaluations of these holdings to focus resources on core assets[260][262]. Strategic Developments - The FDA granted substantial equivalence determination for the VECTR System, which is designed for minimally invasive surgeries, marking a significant milestone for Rafael Medical Devices[263]. - The merger with Cyclo was completed on March 25, 2025, making Cyclo a wholly-owned subsidiary and enhancing the company's product pipeline[259]. - The company is strategically focusing on the development of Trappsol® Cyclo™ for Niemann-Pick Disease Type C1, with ongoing Phase 3 clinical trials[257].