Odyssey Health Reports Improved Net Loss of $251,743 for Q2 2025 Amid Financial Challenges

Odyssey Health, Inc. reported a net loss of $251,743 for the three months ended April 30, 2025, a significant improvement compared to a loss of $842,341 during the same period in 2024. For the nine months ending April 30, 2025, the company experienced a net loss of $1,490,775, contrasting sharply with a net income of $11,897,190 in the prior year, primarily due to a one-time gain from the sale of assets in 2024. The company did not generate any revenue during these periods, maintaining an accumulated deficit of $62,493,921 as of April 30, 2025.

In terms of operational expenses, Odyssey Health reported a 63% decrease in general and administrative expenses, totaling $117,274 for the three months ended April 30, 2025, down from $320,888 in the same quarter of 2024. Stock-based compensation also saw a significant reduction, dropping by 77% to $11,781 in the latest quarter. The company did not incur any research and development expenses during the three months ended April 30, 2025, compared to $65,766 in the previous year, reflecting a strategic shift in focus as the company awaits regulatory approvals for its products.

The company’s total assets decreased to $164,508 as of April 30, 2025, down from $586,146 as of July 31, 2024. This decline was primarily attributed to a reduction in the investment in Oragenics, Inc. common stock, which fell from $529,203 to $97,149. Current liabilities increased to $6,867,290, up from $5,919,895, driven by higher accrued wages and interest. The total stockholders' deficit also widened to $6,702,782 from $5,333,749, indicating ongoing financial challenges.

Odyssey Health continues to focus on its strategic goal of developing and acquiring medical technologies, including the CardioMap® heart monitoring device and the Save a Life choking rescue device. However, the company has suspended research and development activities until market conditions improve, citing the need for additional capital to meet operational expenses. The company’s ability to continue as a going concern is in question, as it reported only $3,186 in cash available at the end of the reporting period, which is insufficient to cover its operating expenses through mid-2026.

Looking ahead, Odyssey Health aims to raise additional capital through debt or equity financing to support its business plan. The company acknowledges the uncertainty surrounding its ability to secure necessary funding and the potential impact on its operations. As it stands, the company is not currently marketing any products, pending FDA clearance, and will continue to adjust its business strategy in response to its financial situation and market conditions.