IR-Med Reports Increased Losses and Ongoing Financial Challenges for Six-Month Period Ending June 30, 2025

IR-Med, Inc. has reported its financial results for the six-month period ending June 30, 2025, revealing a total loss of $1.474 million, an increase from a loss of $1.023 million during the same period in 2024. The company did not generate any revenue in either period. Research and development expenses decreased to $114,000 from $289,000, attributed to reduced use of third-party contractors following the completion of the PressureSafe™ device's development. Marketing expenses also saw a significant decline, dropping to $3,000 from $196,000, primarily due to reduced stock-based compensation expenses.

The company’s total assets as of June 30, 2025, amounted to $175.251 million, with current assets of $90.205 million, including cash and cash equivalents of $63.129 million. Total liabilities stood at $800.545 million, with current liabilities comprising $774.545 million. The stockholders’ deficit increased to $625,000 from $294,000 at the end of the previous fiscal year, reflecting ongoing financial challenges. The accumulated deficit reached $18.212 million, indicating the company’s ongoing struggle to achieve profitability.

Strategically, IR-Med has made significant progress with its PressureSafe™ device, which received FDA listing certification in April 2024. The company is preparing for the commercial launch of this device, which is designed to assess pressure injuries. Additionally, IR-Med is developing a second product, DiaSafe™, aimed at early assessment of diabetic foot ulcers. The Israeli Innovation Authority has approved funding for the development of DiaSafe™, with a total project budget of approximately $1.223 million, including a grant of about $489,000.

Operationally, the company has been focusing on cost-cutting measures, including salary reductions for its executives and a decrease in employee headcount. As of June 30, 2025, the company had 77.239 million shares outstanding, an increase from 71.008 million shares at the end of 2024. The company has also entered into various financing agreements, including a recent private placement that raised approximately $88,678. However, it faces challenges in collecting payments from investors, notably from Williamsburg Venture Holdings, which has failed to remit $500,000 owed for shares issued under an equity purchase agreement.

Looking ahead, IR-Med anticipates that its existing cash resources will be sufficient to fund operations through August 2025. However, the company has expressed substantial doubt about its ability to continue as a going concern without additional financing. Management plans to seek further capital to support ongoing product development and operational needs, while also exploring avenues to increase revenues and reduce expenditures. The company’s future performance will depend on its ability to successfully commercialize its products and navigate the financial challenges it currently faces.