Odysight.ai Inc. reported its financial results for the nine months ending September 30, 2025, revealing a revenue of $2.576 million, a decrease of 3% from $2.660 million in the same period of 2024. The decline in revenue was primarily attributed to the full derecognition of a contract liability associated with a Fortune 500 medical company customer, amounting to $1.7 million. The company’s gross profit for the period was $694,000, slightly down from $696,000 year-over-year. The operating loss increased significantly to $13.705 million, compared to $8.744 million in the prior year, reflecting higher research and development, sales and marketing, and general administrative expenses.
In terms of operational metrics, Odysight.ai's research and development expenses surged by 56% to $7.322 million, driven by increased payroll and stock-based compensation as the company focused on new product development. Sales and marketing expenses nearly doubled to $1.604 million, reflecting intensified efforts to penetrate new markets and enhance product visibility. General and administrative expenses also rose by 39% to $5.473 million, largely due to increased staffing and costs associated with the company's public offering and Nasdaq listing.
The company’s cash and cash equivalents, along with restricted cash, increased to $29.482 million as of September 30, 2025, compared to $18.164 million at the end of 2024. This increase was bolstered by a public offering completed in February 2025, which generated approximately $20.9 million in net proceeds. The company’s backlog, which represents contracted revenue not yet recognized, stood at approximately $14.2 million, down from $15.0 million at the end of 2024.
Odysight.ai has been actively expanding its operations, including the establishment of new subsidiaries in Italy and Israel to enhance its market presence. The company continues to focus on its vision-based platform solutions for predictive maintenance and condition-based monitoring, with applications in various sectors including aerospace and medical. Despite the ongoing geopolitical tensions in Israel, which have led to some operational disruptions, the company has not experienced a material adverse effect on its business thus far. Looking ahead, Odysight.ai anticipates continued investment in research and development, with expectations of increased expenses as it scales its operations and seeks to achieve profitability.
About Odysight.ai Inc.
Odysight.ai Inc. develops AI-driven vision-based sensor solutions for real-time health and condition monitoring across aerospace, medical, industrial, transportation, and energy markets. Its products utilize miniature cameras, machine learning, and cloud analytics to enable predictive maintenance, enhance safety, reduce downtime, and lower costs. Serving government agencies, defense contractors, and industrial clients, the company leverages proprietary technology and strategic partnerships to lead in predictive and condition-based monitoring.
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