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Odysight.ai Reports Financial Results for The Nine Months Ended September 30, 2025 and Provides Business Update
Globenewswire· 2025-11-13 13:10
Core Insights - Odysight.ai Inc. has reported financial results for the nine months ending September 30, 2025, indicating a transformative phase with a focus on growth and market adoption of its visual sensing and AI analytics technologies [1][3]. Financial Performance - Revenues for the first nine months of 2025 were approximately $2.6 million, a slight decrease from $2.7 million in the same period of 2024 [7][8]. - The cash balance as of September 30, 2025, was approximately $29.8 million, significantly up from $13.6 million a year earlier [12]. - The backlog stood at approximately $14.2 million as of September 30, 2025, with monetization expected to continue through 2026 and beyond [2][9]. Business Developments - The company has successfully transitioned from the medical device market to aerospace, transportation, and industrial sectors, with commercial aerospace revenues booked in 2025 [4]. - Key achievements include the first operational footprint in Europe with the Italian Air Force and the delivery of a vision-based monitoring system for the Heron TP UAV [4]. - Odysight.ai has signed a strategic partnership to integrate its predictive health monitoring system across various sectors, including defense and heavy vehicles [4]. Operational Highlights - The gross profit for the nine months ended September 30, 2025, was $0.7 million, reflecting a gross margin of approximately 27%, compared to a gross margin of 26% in the previous year [10]. - Operating expenses increased to $14.4 million, up from $9.4 million in the same period of 2024, primarily due to expansion efforts and marketing activities [11]. - The net loss for the nine months was $12.8 million, compared to a net loss of $8.2 million in the prior year [12].
ODYSIGHT.AI® REPORTS SUCCESSFUL TECHNOLOGY DEMONSTRATION ON AW139 LEONARDO HELICOPTER OPERATED BY ITALIAN AIR FORCE FLIGHT TEST UNIT
Globenewswire· 2025-10-20 12:30
Core Insights - Odysight.ai Inc. has successfully completed its first European flight test of the Odysight.ai TruVision® technology on an AW139 Leonardo helicopter operated by the Italian Air Force, marking a significant milestone in the company's expansion into Europe [1][2][4] Company Overview - Odysight.ai is a leading provider of visual-based Predictive Maintenance (PdM) and Condition-Based Monitoring (CBM) solutions, with a focus on transforming critical systems across various sectors including Aviation & Aerospace, Transportation, Energy, and Industry [5] - The company leverages advanced visual sensing, real-time analytics, and AI-driven insights to enhance operational safety, efficiency, and reliability [5] Market Potential - The AW139 helicopter, a best-selling twin-engine platform, has a market potential of over 1,000 units in service worldwide, indicating significant opportunities for Odysight.ai's technology in both civil and defense applications [3] Strategic Partnerships - The flight test was conducted in collaboration with SIPAL, a prominent Italian engineering company, and the Italian Air Force Flight Test Unit, showcasing the company's ability to integrate its technology within established aerospace ecosystems [2][4] Future Outlook - The successful demonstration of Odysight.ai's technology on a European platform is expected to reinforce the company's transition towards predictive, data-driven maintenance solutions, further solidifying its presence in the European helicopter market [4]
ODYSIGHT.AI to Present at the LD Micro Main Event XIX on Monday, October 20, 2025
Globenewswire· 2025-10-15 12:30
Core Insights - Odysight.AI Inc. is a developer of AI systems focused on Predictive Maintenance (PdM) and Condition-Based Monitoring (CBM) [1][3] - The CEO, Yehu Ofer, will present at the LD Micro Main Event XIX on October 20, 2025, in San Diego, CA [1] - The company offers video sensor-based solutions for critical systems in aviation, transportation, and energy industries [3] Company Overview - Odysight.AI leverages visual technologies and products from the medical industry to enhance its PdM and CBM offerings [3] - The company's unique video-based sensors and AI algorithms are designed for deployment in challenging environments and hard-to-reach locations [3] - The platform provides maintenance and operations teams with visibility into areas that are typically inaccessible or unsuitable for continuous monitoring [3] Investor Engagement - Yehu Ofer will be available for one-on-one investor meetings on October 20 and 21, 2025 [2] - Interested parties can schedule meetings through LD Micro or contact Miri Segal for arrangements [2]
ODYSIGHT.AI TO PARTICIPATE IN THE H.C. WAINWRIGHT 27TH ANNUAL GLOBAL INVESTMENT CONFERENCE
Globenewswire· 2025-08-27 12:30
Company Overview - Odysight.AI Inc. is a leading developer of AI systems for Predictive Maintenance (PdM) and Condition-Based Monitoring (CBM) [3] - The company specializes in video sensor-based solutions for critical systems in the aviation, transportation, and energy industries [3] - Odysight.AI leverages technologies from the medical industry to enhance its offerings [3] Upcoming Events - Einav Brenner, the Chief Financial Officer, will participate in the H.C. Wainwright 27th Annual Global Investment Conference from September 8–10, 2025, in New York City [1] - An on-demand company presentation will be available to registered attendees starting September 5, 2025, at 7:00 a.m. ET [2] - Attendees can submit questions directly to management through the conference platform [2] Investor Engagement - Investors can schedule one-on-one meetings through their H.C. Wainwright representative or by contacting Miri Segal [2]
Odysight.ai to Participate in the 15th Annual ROTH London Conference on June 25 and 26
GlobeNewswire News Room· 2025-06-12 12:30
Company Overview - Odysight.ai Inc. is a leading provider of visual-based predictive maintenance (PdM) and condition-based monitoring (CBM) solutions [1][4] - The company utilizes video sensor-based solutions for critical systems in aviation, transportation, and energy industries, leveraging technologies from the medical field [4] Conference Participation - Odysight.ai will participate in the 15th Annual ROTH London Conference on June 25–26, 2025, in London, U.K. [1] - Einav Brenner, the Chief Financial Officer, will be available for one-on-one investor meetings during the conference [1] ROTH London Conference Insights - The ROTH London Conference serves as a platform for institutional investors to connect with executive leadership from around 70 growth-oriented companies across various sectors [2] - The event is designed to facilitate insightful dialogue through one-on-one and small group meetings, allowing investors to gain deeper insights into business strategies and sector trends [2] ROTH Investment Bank Overview - ROTH is a relationship-driven investment bank that supports growth companies and their investors, offering services such as capital raising, equity research, macroeconomic insights, and M&A advisory [3] - The bank aims to provide innovative and actionable content while supporting clients throughout their growth journey [3]
Odysight.ai Reports Financial Results for The First Quarter of 2025 and Provides Business Update
Globenewswire· 2025-05-15 12:05
Core Insights - Odysight.ai Inc. reported significant growth in revenues and a strong cash position, indicating progress in its business strategy and operational foundations [4][8][3] Financial Performance - Revenues for the three months ended March 31, 2025, were approximately $2.1 million, a substantial increase from $0.2 million in the same period in 2024, primarily due to a contract with a Fortune 500 medical company [4] - Cost of revenues increased to $1.5 million from $0.4 million year-over-year, driven by contract fulfillment costs and inventory impairment [5] - Gross profit was $0.6 million, reflecting a gross margin of 26%, compared to a gross loss of $0.2 million in the prior year [6] - Operating expenses rose to $5.1 million from $3.1 million, largely due to operational expansion and one-time uplisting expenses [7] - The net loss for the quarter was $4.3 million, compared to a net loss of $3.2 million in the same quarter of 2024 [7] Cash Position and Capital Raise - The company had a net cash position of approximately $37.2 million as of March 31, 2025, up from about $17.0 million a year earlier [2][8] - In February 2025, Odysight.ai uplisted to the Nasdaq Capital Market and raised gross proceeds of approximately $23.7 million through a public offering [8][9] Business Developments - The company has established partnerships, including one with Israel Railways to develop an AI-powered visualization system aimed at enhancing railway safety [9] - An initial purchase order was received from a European partner for a combined industrial solution utilizing Odysight.ai's technology [9] Backlog - The backlog as of March 31, 2025, was approximately $14.8 million, indicating future revenue potential [4][16]