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SaverOne Reports First Half 2025 Results
Globenewswire· 2025-08-29 12:30
Core Insights - SaverOne 2014 Ltd. reported a 57% year-over-year increase in revenues, reaching NIS 756 thousand (~$224 thousand) for the first half of 2025, compared to NIS 483 thousand (~$143 thousand) in the same period of 2024, driven by international expansion efforts [6][8][11] - The company is actively pursuing international growth, securing new deals with existing customers' international subsidiaries and expanding its presence in Europe and North America [4][6][13] - The management expressed optimism about the company's growth trajectory, highlighting the successful integration of their Vulnerable Road User (VRU) detection technology with a leading European automotive technology provider [4][6] Financial Highlights - Revenues increased by 57% to NIS 756 thousand (~$224 thousand) in the first half of 2025 from NIS 483 thousand (~$143 thousand) in the first half of 2024 [8][11] - Gross profit for the first half of 2025 was NIS 224 thousand (~$66 thousand), with a gross margin of 30%, compared to a gross profit of NIS 85 thousand (~$25 thousand) and a gross margin of 18% in the first half of 2024 [9][24] - Operating loss for the first half of 2025 was NIS 16.8 million (~$5.0 million), slightly higher than the NIS 15.7 million (~$4.6 million) loss in the first half of 2024 [11][24] - Net loss for the first half of 2025 was NIS 16.1 million (~$4.7 million), compared to a net loss of NIS 16.3 million (~$4.8 million) in the first half of 2024 [11][24] - Cash and cash equivalents increased to NIS 16.0 million (~$4.7 million) as of June 30, 2025, up from NIS 13.3 million (~$4.0 million) at the end of 2024 [12][24] Recent Developments - The company has signed new sales and marketing agreements in the United States and a distribution agreement in Canada, enhancing its North American strategy [6][13] - SaverOne has broadened its relationship with Cemex across several European countries, demonstrating the effectiveness of its international expansion strategy [7] - The company signed a preliminary agreement with a leading European ADAS technology provider to integrate its VRU detection solution into their sensor fusion platform [4][13]
SaverOne Signs Agreement with Sdot Dan Regional Council to Deploy SaverOne System in its School Bus Fleet
Globenewswire· 2025-08-08 12:30
Core Insights - SaverOne 2014 Ltd. has signed an agreement with Sdot Dan Regional Council to implement its driver distraction prevention system on school buses, enhancing safety for students [1][2] - The adoption of the SaverOne system by Sdot Dan is expected to serve as a model for other local authorities, promoting widespread adoption of vehicle safety technologies [3][4] Company Overview - SaverOne specializes in developing transportation safety solutions aimed at preventing driver distraction caused by mobile phone usage while driving [5][8] - The company's technology prevents access to distracting applications while allowing essential functions like navigation, thereby creating a safer driving environment [5] Market Strategy - SaverOne targets commercial and private vehicle fleets, vehicle manufacturers, and insurance companies, focusing on reducing costs associated with accidents [6] - The company aims to expand its presence in the Israeli, European, and US markets, anticipating increased demand driven by upcoming EU regulations on cellular distraction systems [6][7] Product Development - SaverOne's initial product line focuses on preventing accidents caused by mobile phone distractions, with ongoing development of a sensor system for detecting vulnerable road users [9]