Odysight revenue fell 24%, operating loss widened 45%, backlog declined despite $20.9M IPO

Filed March 19, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 26, 2025 · ~1 min read

Key Changes

• high

  Revenue dropped 24% to $3.0M as Fortune 500 medical customer orders ceased; backlog fell 8% to $13.8M despite prior-year surge, signaling weaker demand or delayed commitments.

  MD&A: Revenue & Backlog verify on EDGAR →
• high

  Operating loss widened 45% to $18.1M on 40% R&D increase and 91% sales/marketing jump while revenue declined; loss-to-revenue ratio doubled to 6.0x from 3.2x.

  MD&A: Operating Loss verify on EDGAR →
• high

  February 2025 IPO raised $20.9M net proceeds, but accumulated deficit grew $17M to $63M; management now expects (vs. may need) additional capital before profitability.

  MD&A: Liquidity / Risk Factors verify on EDGAR →