N2OFF, Inc. Reports Q3 2025 Financial Results with Revenue of $68,000 and Acquisition of MitoCareX

N2OFF, Inc. reported its financial results for the third quarter of 2025, revealing a total revenue of $68,000 for the nine months ended September 30, 2025, a slight decrease of 1% from $69,000 in the same period of the previous year. The company experienced a gross profit of $49,000, a significant improvement from a gross loss of $41,000 in the prior year, primarily due to a substantial reduction in cost of sales, which fell to $19,000 from $110,000. The operating loss for the nine-month period was $4.78 million, compared to a loss of $3.06 million in the same period last year, reflecting increased general and administrative expenses.

The company’s financial position showed notable changes, with total assets increasing to $11.03 million as of September 30, 2025, up from $5.47 million at the end of 2024. This growth was driven by a rise in cash and cash equivalents, which reached $6.04 million, compared to $2.15 million at the end of the previous fiscal year. The increase in cash was largely attributed to financing activities, which generated $8.1 million, a significant rise from $2.6 million in the same period last year. However, the company reported a net loss of $5.39 million for the nine months ended September 30, 2025, compared to a loss of $3.94 million in the prior year.

Strategically, N2OFF completed the acquisition of MitoCareX on October 20, 2025, which is expected to enhance its oncology biotechnology capabilities. The acquisition involved a cash payment of $700,000 and the issuance of shares representing approximately 40% of the company’s fully diluted share capital. This move aligns with N2OFF's focus on expanding its portfolio in the oncology sector, particularly targeting non-small cell lung cancer through innovative therapeutics.

Operationally, the company has been expanding its presence in the renewable energy sector, particularly through its joint venture with Solterra Renewable Energy Ltd. The partnership is focused on developing solar energy projects across Italy, Poland, and Germany, with plans for further geographic expansion. As of September 30, 2025, N2OFF had a working capital of $6.6 million, indicating a solid liquidity position to support ongoing and future projects.

Looking ahead, N2OFF's management expressed concerns regarding its ability to continue as a going concern, citing an accumulated deficit of $39.83 million and the expectation of continued losses. The company plans to secure additional financing through equity sales or strategic partnerships to support its operations and growth initiatives. The ongoing geopolitical situation in Israel, where much of the company's operations are based, also poses risks that could impact its business activities and financial performance.