Movano Inc. reported its financial results for the third quarter and the first nine months of 2025, revealing a significant decline in revenue and an increase in net losses compared to the same period in 2024. For the three months ended September 30, 2025, the company generated revenue of $80,000, a 60% increase from $50,000 in the same quarter last year. However, for the nine months ended September 30, 2025, revenue fell to $389,000, down 57% from $902,000 in 2024. The company attributed this decline to reduced marketing efforts, which led to lower sales volume.
Movano's total operating expenses for the third quarter decreased by 64% to $2.67 million from $7.43 million in the prior year, primarily due to significant reductions in research and development (R&D) and sales, general, and administrative (SG&A) expenses. R&D expenses dropped to $1.17 million from $3.40 million, while SG&A expenses fell to $1.23 million from $3.18 million. The company reported a loss from operations of $2.59 million for the third quarter, a 65% improvement compared to a loss of $7.38 million in the same quarter of 2024. For the nine-month period, the loss from operations was $11.09 million, down from $19.53 million in the previous year.
In terms of strategic developments, Movano announced a merger agreement with Corvex, Inc. on November 6, 2025, which is expected to close in the first quarter of 2026, subject to shareholder approval. The merger is part of the company's strategy to enhance shareholder value and secure additional capital. Movano also raised $3 million through a Series A Preferred Stock Subscription Agreement and entered into a $1 billion equity facility with Chardan Capital Markets LLC, which will allow the company to sell newly issued shares of common stock.
Operationally, Movano's cash and cash equivalents decreased to $2 million as of September 30, 2025, down from $7.9 million at the end of 2024. The company used $9 million in cash for operating activities during the first nine months of 2025, compared to $18 million in the same period of 2024. The company has faced challenges in maintaining liquidity, raising concerns about its ability to continue as a going concern beyond the first quarter of 2026 without additional financing. Movano's accumulated deficit reached $160.5 million as of September 30, 2025, reflecting ongoing operational losses since its inception.
Looking ahead, Movano's management indicated that the company expects to continue incurring losses until it can generate significant revenue from its products, particularly the Evie Ring and the newly FDA-cleared EvieMED Ring. The company is focused on completing the merger with Corvex and securing additional capital to support its operations and product development initiatives. However, the ability to raise funds and successfully execute its strategic plans remains uncertain, contingent on market conditions and the successful closing of the merger.
About Movano Inc.
Movano Inc. develops wearable health devices focused on women’s wellness and chronic disease management. Its products, including the Evie Ring and EvieMED Ring, provide medical-grade data on vital signs, blood oxygen, and menstrual health. The company aims to deliver non-invasive, continuous monitoring solutions for conditions like diabetes and hypertension, combining proprietary RF technology with consumer-friendly design to enhance preventative care and clinical applications.
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