Firefly Neuroscience, Inc. (AIFF) Financials

AIFF

Trailing 12 months to June 30, 2026

Revenue $1.8M +320.3% YoY

Net Income -$9.1M +60.1% YoY

Operating Cash Flow -$7.0M +19.1% YoY

Gross Profit $802K -50.5% YoY

Market Cap $19.1M as of Oct 7, 2026

Price / Sales 10.6x on $1.8M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 1.3x on $14.7M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 7, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 11, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AIFF SEC filings page.

Firefly Neuroscience, Inc. (AIFF) reported $1.8M in revenue over the twelve months to Jun 30, 2026, up 320.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AIFF FY2025 2026-10-03

Firefly remains a development-stage business: modest revenue and gross profit are outweighed by operating costs, cash use, and financing dependence.

The 2025 gross profit of $645K was dwarfed by an $8.9M operating loss, revealing that current sales contribute little toward the full cost base. R&D of $1.5M reinforces an expense structure built for development rather than present sales efficiency.

Operating cash flow remained negative through FY2023-FY2025, reaching -$8.2M in FY2025 from -$6.2M in FY2024; sales growth has not yet translated into cash. The reported liquidity comparison was 4 months of latest annual operating outflow, underscoring financing’s importance to the current operating model.

Liabilities fell from $5.0M in FY2024 to $2.8M in FY2025, showing balance-sheet pressure eased. The current ratio reached 1.4x alongside $11.6M of financing cash flow, indicating the improved position was tied more to external funding than operations.

Financial Health Signals

Financial Health Score 36/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Firefly Neuroscience, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway

Firefly Neuroscience, Inc. held $2.7M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $8.2M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Firefly Neuroscience, Inc. scores 16/100 among other emerging companies.

Dilution

Firefly Neuroscience, Inc. had 15M shares outstanding at the end of fiscal year 2025, against 12M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Firefly Neuroscience, Inc. scores 7/100 among other emerging companies.

R&D Intensity

Firefly Neuroscience, Inc. spent $1.5M on research and development in fiscal year 2025, which was 14.8% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Firefly Neuroscience, Inc. scores 45/100 among other emerging companies.

Revenue Progress

Firefly Neuroscience, Inc. reported revenue of $1.1M in fiscal year 2025, against $108K in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Firefly Neuroscience, Inc. scores 79/100 among other emerging companies.

Burn Trend

Firefly Neuroscience, Inc.'s operations used $8.2M of cash in fiscal year 2025, against $6.2M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Firefly Neuroscience, Inc. scores 8/100 among other emerging companies.

Balance Sheet

Firefly Neuroscience, Inc.'s cash, cash equivalents and investments came to $2.7M at the end of fiscal year 2025, against $2.8M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Firefly Neuroscience, Inc. scores 58/100 among other emerging companies.

Altman Z-Score Distress

-13.41

Firefly Neuroscience, Inc. scores -13.41, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($19.1M) relative to total liabilities ($2.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

4/8

Firefly Neuroscience, Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Firefly Neuroscience, Inc. reported a net loss of $19.9M while operations used $8.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue

$514K

YoY+71.9%

QoQ+6.0%

Firefly Neuroscience, Inc. generated $514K in revenue in Q2 2026. This represents an increase of 71.9% from the same quarter a year earlier. Against the prior quarter it is up 6.0%.

EBITDA

-$1.9M

YoY-18.7%

QoQ+1.9%

Firefly Neuroscience, Inc.'s EBITDA was -$1.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 18.7% from the same quarter a year earlier. Against the prior quarter it is up 1.9%.

Net Income

-$2.0M

YoY-8.2%

QoQ+1.0%

Firefly Neuroscience, Inc. reported -$2.0M in net income in Q2 2026. This represents a decrease of 8.2% from the same quarter a year earlier. Against the prior quarter it is up 1.0%.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$9.2M

YoY+55.9%

QoQ+195.0%

5Y CAGR+43.2%

10Y CAGR+14.6%

Firefly Neuroscience, Inc. held $9.2M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

16M

YoY+17.2%

QoQ+0.8%

5Y CAGR+5.4%

10Y CAGR+3.4%

Firefly Neuroscience, Inc. had 16M shares outstanding in Q2 2026. This represents an increase of 17.2% from the same quarter a year earlier. Against the prior quarter it is up 0.8%.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

49.2%

YoY-42.4pp

QoQ+3.7pp

Firefly Neuroscience, Inc.'s gross margin was 49.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 42.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.7 percentage points.

Return on Equity

-13.5%

YoY+1.6pp

QoQ+10.2pp

Firefly Neuroscience, Inc.'s ROE was -13.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 10.2 percentage points.

Operating Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

R&D Spending

$525K

YoY+56.3%

QoQ+23.8%

Firefly Neuroscience, Inc. invested $525K in research and development in Q2 2026. This represents an increase of 56.3% from the same quarter a year earlier. Against the prior quarter it is up 23.8%.

Share Buybacks

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

AIFF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AIFF quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$1.8M	$1.1M+957.4%	$108K-78.3%	$498K-95.9%	$12.0M-20.0%	$15.0M+8.1%	$13.9M+36.8%	$10.2M+13.8%	$8.9M-16.0%	$10.6M+58.1%	$6.7M+8.3%	$6.2M+7.5%	$5.8M-22.7%	$7.5M+6.0%	$7.1M-9.8%	$7.8M
Cost of Revenue	$997K	$497K	$0-100.0%	$5.4M-34.2%	$8.2M-28.5%	$11.4M-2.4%	$11.7M+33.4%	$8.8M+29.1%	$6.8M-17.4%	$8.2M+67.7%	$4.9M+27.7%	$3.8M+13.1%	$3.4M-34.9%	$5.2M+12.3%	$4.6M-13.6%	$5.4M
Gross Profit	$802K	$645K+497.2%	$108K+102.2%	-$4.9M-270.1%	$2.9M-20.8%	$3.6M+63.7%	$2.2M+57.8%	$1.4M-34.7%	$2.1M-11.3%	$2.4M+32.5%	$1.8M-23.2%	$2.4M-0.6%	$2.4M+5.7%	$2.3M-6.3%	$2.4M-1.3%	$2.4M
R&D Expenses	$1.8M	$1.5M-24.2%	$2.0M+163.7%	$741K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$7.2M	$7.0M+13.6%	$6.1M+5.0%	$5.8M-29.5%	$8.3M+32.7%	$6.2M+247.3%	$1.8M-4.1%	$1.9M+7.4%	$1.7M+4.3%	$1.7M-10.9%	$1.9M+7.5%	$1.7M+3.6%	$1.7M+2.0%	$1.7M-1.8%	$1.7M+7.7%	$1.6M
Operating Income	-$9.1M	-$8.9M+11.9%	-$10.1M-226.6%	-$3.1M+43.2%	-$5.4M-106.3%	-$2.6M-737.9%	$412K+156.6%	-$728K-1067.4%	-$62K-126.2%	$238K+142.2%	-$563K-927.1%	$68K+271.0%	-$40K+42.5%	-$69K-173.5%	$94K-36.7%	$149K
EBITDA	N/A	-$8.7M+13.0%	-$10.0M-224.5%	-$3.1M+40.8%	-$5.2M-117.5%	-$2.4M-663.9%	$424K+158.7%	-$722K-1272.8%	-$53K-120.6%	$255K+147.6%	-$535K-646.2%	$98K+1258.7%	-$8K+80.7%	-$44K-136.0%	$122K-27.7%	$168K
Interest Expense	N/A	N/A	N/A	$103K+26.5%	$82K+118.7%	$37K+1094.4%	$3K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	$5K+350.0%	-$2K-300.0%	$1K-99.9%	$812K+175.9%	-$1.1M	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$9.1M	-$19.9M-90.1%	-$10.5M-301.8%	-$2.6M+85.3%	-$17.8M-1469.1%	-$1.1M-373.7%	$413K+157.6%	-$717K-1305.4%	-$51K-120.7%	$246K+144.5%	-$554K-806.9%	$78K+363.0%	-$30K+50.6%	-$60K-160.0%	$100K-34.5%	$153K
EPS (Basic)	N/A	-$1.97-23.1%	-$1.60-97.5%	-$0.81+91.9%	-$10.03-11044.4%	-$0.09-325.0%	$0.04+166.7%	-$0.06	$0.00-100.0%	$0.02+140.0%	-$0.05-600.0%	$0.01	$0.00+100.0%	-$0.01-200.0%	$0.010.0%	$0.01
EPS (Diluted)	—	N/A	N/A	N/A	N/A	-$0.09-400.0%	$0.03+150.0%	-$0.06	$0.00-100.0%	$0.02+140.0%	-$0.05-600.0%	$0.01	$0.00+100.0%	-$0.01	$0.01	$0.01
Diluted Shares (Avg)	N/A	N/A	N/A	N/A	N/A	13M+4.4%	12M+7.5%	11M+0.1%	11M-3.3%	12M+3.4%	11M-1.0%	11M+1.0%	11M0.0%	11M	11M	11M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$514K+71.9%	$485K+1027.9%	$412K+677.4%	$388K+1075.8%	$299K+2890.0%	$43K+258.3%	$53K	$33K+43.5%
Cost of Revenue	$261K+944.0%	$264K	$230K	$242K	$25K	$0-100.0%	N/A	N/A
Gross Profit	$253K-7.7%	$221K+414.0%	$182K-85.7%	$146K+342.4%	$274K+2640.0%	$43K+103.6%	$1.3M	$33K+102.5%
R&D Expenses	$525K+56.3%	$424K+35.9%	$456K+4.3%	$378K-56.9%	$336K-4.0%	$312K+8.0%	$437K	$878K+124.0%
SG&A Expenses	$1.5M+10.9%	$1.7M+4.9%	$2.0M+184.5%	$2.0M-32.9%	$1.4M+28.9%	$1.6M+15.6%	$703K	$3.0M+156.5%
Operating Income	-$2.0M-20.8%	-$2.0M+2.7%	-$2.5M+27.2%	-$2.7M+37.8%	-$1.6M-29.8%	-$2.1M-89.3%	-$3.4M	-$4.3M-559.7%
EBITDA	-$1.9M-18.7%	-$2.0M+4.0%	-$2.4M+29.9%	-$2.6M+37.9%	-$1.6M-29.4%	-$2.0M-87.5%	-$3.4M	-$4.3M
Income Tax	$0-100.0%	$0	N/A	N/A	$4K	$0	-$2K	$0
Net Income	-$2.0M-8.2%	-$2.0M+84.5%	-$2.5M+34.5%	-$2.6M+38.5%	-$1.8M-45.0%	-$12.9M-1052.4%	-$3.8M	-$4.3M-559.8%
EPS (Basic)	-$0.10+28.6%	-$0.13+92.5%	-$0.16+64.4%	-$0.20+67.2%	-$0.14+41.7%	-$1.74-690.9%	-$0.45-15.4%	-$0.61-238.9%
EPS (Diluted)	N/A	N/A	N/A	-$0.20	N/A	N/A	N/A	-$0.61
Diluted Shares (Avg)	N/A	N/A	N/A	13M	N/A	N/A	N/A	7M

Not reported in any period shown, so not listed: Interest Expense.

AIFF Balance Sheet

AIFF quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$10.5M+127.7%	$4.6M+74.2%	$2.6M-66.9%	$8.0M-65.8%	$23.4M+519.1%	$3.8M+59.0%	$2.4M-21.5%	$3.0M-19.0%	$3.7M-0.5%	$3.8M-8.9%	$4.1M-3.1%	$4.2M-3.6%	$4.4M+22.3%	$3.6M-28.1%	$5.0M
Current Assets	$4.0M+53.2%	$2.6M+16.5%	$2.3M-19.6%	$2.8M-59.2%	$6.9M+99.6%	$3.4M+55.9%	$2.2M-26.6%	$3.0M-19.0%	$3.7M0.0%	$3.7M-8.6%	$4.1M-2.8%	$4.2M-3.6%	$4.3M+22.0%	$3.6M-28.4%	$5.0M
Cash & Equivalents	$2.7M+51.8%	$1.8M+165.4%	$682K-6.7%	$731K-85.2%	$4.9M+165.4%	$1.9M+78.8%	$1.0M-47.1%	$2.0M-28.1%	$2.7M+44.1%	$1.9M-12.6%	$2.2M-11.5%	$2.5M+3.8%	$2.4M-10.0%	$2.6M+104.8%	$1.3M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$108K	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$194K+60.3%	$121K+44.0%	$84K-94.8%	$1.6M-2.1%	$1.7M+15.4%	$1.4M+115.7%	$669K+2.4%	$653K+7.0%	$610K-47.3%	$1.2M-10.8%	$1.3M+33.7%	$971K-32.5%	$1.4M+94.8%	$738K-74.5%	$2.9M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$5.2M	$0	$0-100.0%	$1.1M-85.2%	$7.6M	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.8M-42.9%	$5.0M+96.5%	$2.5M-75.2%	$10.2M+72.4%	$5.9M+174.1%	$2.2M+78.3%	$1.2M+5.3%	$1.2M-37.5%	$1.8M-13.2%	$2.1M+9.2%	$1.9M-10.1%	$2.2M-6.1%	$2.3M+58.0%	$1.5M-51.1%	$3.0M
Current Liabilities	$2.8M-43.3%	$5.0M+96.5%	$2.5M-34.9%	$3.9M+96.2%	$2.0M+9.9%	$1.8M+54.6%	$1.2M+1.3%	$1.2M-37.5%	$1.8M-13.2%	$2.1M+9.2%	$1.9M-10.1%	$2.2M-6.1%	$2.3M+58.0%	$1.5M-51.1%	$3.0M
Non-Current Liabilities	$21K	$0	$0-100.0%	$6.3M+60.4%	$3.9M+1003.6%	$357K+683.0%	$46K	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$357K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$7.6M+2136.5%	-$375K-444.0%	$109K+104.9%	-$2.2M-112.8%	$17.4M+981.0%	$1.6M+38.8%	$1.2M-37.9%	$1.9M-1.1%	$1.9M+16.0%	$1.6M-25.0%	$2.2M+4.2%	$2.1M-0.7%	$2.1M-2.0%	$2.1M+5.3%	$2.0M
Retained Earnings	-$111.6M-28.2%	-$87.1M-13.7%	-$76.6M-145.7%	-$31.2M-132.1%	-$13.4M-9.2%	-$12.3M+3.3%	-$12.7M-6.0%	-$12.0M-0.4%	-$12.0M+2.0%	-$12.2M-4.8%	-$11.6M+0.7%	-$11.7M-0.3%	-$11.7M-0.5%	-$11.6M+0.9%	-$11.7M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$16.8M+12.3%	$10.9M-11.8%	$10.5M+127.7%	$12.4M+133.6%	$14.9M+351.3%	$12.4M+228.4%	$4.6M+74.2%	$5.3M+0.9%
Current Assets	$10.2M+35.8%	$4.5M-57.0%	$4.0M+53.2%	$5.4M+103.8%	$7.5M+544.4%	$10.4M+565.2%	$2.6M+16.5%	$2.7M-2.0%
Cash & Equivalents	$9.2M+55.9%	$3.1M-67.2%	$2.7M+51.8%	$4.3M+251.6%	$5.9M+2324.0%	$9.5M+1594.4%	$1.8M+165.4%	$1.2M+40.2%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$44K-66.9%	$103K	$108K	$80K	$133K	N/A	$0	N/A
Accounts Receivable	$188K-4.6%	$193K+93.0%	$194K+60.3%	$184K	$197K-75.1%	$100K-87.1%	$121K+44.0%	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$5.2M0.0%	$5.2M	$5.2M	$5.2M	$5.2M+360.0%	N/A	$0	N/A
Total Liabilities	$2.1M-25.8%	$2.5M-65.6%	$2.8M-42.9%	$2.8M-66.0%	$2.8M-37.3%	$7.2M+90.2%	$5.0M+96.5%	$8.1M+28.6%
Current Liabilities	$2.1M-24.9%	$2.5M-65.8%	$2.8M-43.3%	$2.7M+7.3%	$2.8M+46.0%	$7.2M+251.9%	$5.0M+96.5%	$2.5M+16.1%
Non-Current Liabilities	$7K-83.7%	$14K	$21K	$31K-99.4%	$43K-98.4%	$0-100.0%	$0	$5.6M+35.2%
Total Equity	$14.7M+21.2%	$8.4M+62.8%	$7.6M+2136.5%	$9.7M+448.0%	$12.1M+1095.9%	$5.2M+57711.1%	-$375K-444.0%	-$2.8M-169.9%
Retained Earnings	-$115.6M-8.8%	-$113.6M-8.8%	-$111.6M-28.2%	-$108.9M-30.7%	-$106.3M-209.9%	-$104.4M-208.0%	-$87.1M-13.7%	-$83.3M-156.7%

Not reported in any period shown, so not listed: Long-Term Debt.

AIFF Cash Flow Statement

AIFF quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$7.0M	-$8.2M-33.1%	-$6.2M-183.4%	-$2.2M+63.9%	-$6.0M-718.2%	-$735K-273.7%	$423K+146.2%	-$917K-20.1%	-$764K-191.3%	$836K+425.9%	-$257K+3.2%	-$265K-327.1%	$117K+154.1%	-$216K-115.8%	$1.4M+303.7%	-$669K
Depreciation & Amortization	N/A	$172K+156.7%	$67K	$0-100.0%	$220K-7.0%	$237K+1861.5%	$12K+106.8%	$6K-40.2%	$10K-42.3%	$17K-40.2%	$28K-5.4%	$30K-4.8%	$31K+23.0%	$26K-7.2%	$27K+41.1%	$19K
Stock-Based Compensation	N/A	$749K-71.1%	$2.6M+779.3%	$295K-76.9%	$1.3M-31.7%	$1.9M+6664.5%	$28K+358.1%	$6K-79.6%	$30K+96.8%	$15K+67.0%	$9K+6.4%	$8K-40.3%	$14K-22.1%	$18K+158.6%	$7K+5.1%	$7K
Capital Expenditures	N/A	N/A	N/A	$0-100.0%	$536K+668.3%	$70K+8.1%	$65K+671.4%	$8K+45.0%	$6K+587.0%	$840-93.7%	$13K-26.4%	$18K-43.3%	$32K-17.9%	$39K+49.2%	$26K+8.5%	$24K
Free Cash Flow	N/A	N/A	N/A	-$2.2M+66.8%	-$6.5M-713.9%	-$805K-324.3%	$359K+138.8%	-$926K-20.3%	-$769K-192.1%	$835K+409.4%	-$270K+4.7%	-$283K-435.1%	$85K+133.2%	-$255K-119.1%	$1.3M+292.8%	-$694K
Investing Cash Flow	-$209K	-$2.5M-421.6%	-$477K-23.6%	-$386K+28.0%	-$536K+94.4%	-$9.6M-14745.3%	-$65K-671.4%	-$8K-106.5%	-$4K-5807.0%	$71+100.4%	-$16K+6.1%	-$17K+34.8%	-$26K+45.2%	-$48K-121.5%	-$22K-21.6%	-$18K
Financing Cash Flow	$10.5M	$11.6M+84.5%	$6.3M+35.7%	$4.6M+97.6%	$2.3M-82.5%	$13.4M+2810.9%	$460K+45900.0%	$1K	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$350-94.6%	$6K

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$1.8M+26.8%	-$1.9M+22.4%	-$1.8M-48.2%	-$1.5M+40.9%	-$2.4M-117.5%	-$2.5M-90.4%	-$1.2M-138.8%	-$2.5M-612.5%
Depreciation & Amortization	$47K+370.0%	$45K+136.8%	$52K-11.9%	$10K+150.0%	$10K+150.0%	$19K	$59K	$4K
Stock-Based Compensation	N/A	$423K+71.3%	N/A	N/A	N/A	$247K+318.6%	N/A	$2.3M+2869.2%
Investing Cash Flow	-$42K+98.2%	-$58K-728.6%	-$23K+69.7%	-$86K+3.4%	-$2.4M-1210.5%	-$7K+94.7%	-$76K+80.3%	-$89K+90.5%
Financing Cash Flow	$7.9M+595.2%	$2.4M-76.7%	$250K-86.7%	-$19K-100.5%	$1.1M	$10.3M+985.0%	$1.9M-12.7%	$3.5M+108.1%

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

AIFF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AIFF quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	56.5%-43.5pp	100.0%	-977.8%	23.8%-0.2pp	24.1%+8.2pp	15.9%+2.1pp	13.8%-10.2pp	24.0%+1.3pp	22.7%-4.4pp	27.1%-11.1pp	38.2%-3.1pp	41.3%+11.1pp	30.2%-4.0pp	34.2%+2.9pp	31.2%
Operating Margin	-775.5%	-9309.3%	-618.1%	-45.1%-27.6pp	-17.5%-20.4pp	3.0%+10.1pp	-7.2%-6.5pp	-0.7%-2.9pp	2.2%+10.6pp	-8.4%-9.5pp	1.1%+1.8pp	-0.7%+0.2pp	-0.9%-2.3pp	1.3%-0.6pp	1.9%
Net Margin	-1741.0%	-9685.2%	-522.7%	-147.7%	-7.5%-10.5pp	3.0%+10.0pp	-7.1%-6.5pp	-0.6%-2.9pp	2.3%+10.5pp	-8.2%-9.5pp	1.3%+1.8pp	-0.5%+0.3pp	-0.8%-2.2pp	1.4%-0.5pp	2.0%
Return on Equity	-260.3%	N/A	-2388.1%	N/A	-6.5%-32.1pp	25.6%+87.3pp	-61.7%-59.0pp	-2.7%-15.7pp	13.0%+46.9pp	-33.9%-37.5pp	3.6%+5.0pp	-1.4%+1.4pp	-2.9%-7.5pp	4.7%-2.8pp	7.5%
Return on Assets	-189.8%+37.6pp	-227.3%-128.8pp	-98.6%+123.9pp	-222.4%-217.6pp	-4.8%-15.8pp	10.9%+41.2pp	-30.2%-28.5pp	-1.7%-8.3pp	6.6%+21.4pp	-14.8%-16.7pp	1.9%+2.6pp	-0.7%+0.7pp	-1.4%-4.2pp	2.8%-0.3pp	3.1%
Current Ratio	1.43+0.9x	0.53-0.4x	0.89+0.2x	0.72-2.7x	3.47+1.6x	1.910.0x	1.89-0.7x	2.62+0.6x	2.02+0.3x	1.75-0.3x	2.10+0.2x	1.94+0.1x	1.89-0.6x	2.44+0.8x	1.67
Debt-to-Equity	0.37	N/A	23.23	N/A	0.34+0.1x	0.22-0.8x	1.04+0.4x	0.61-0.4x	0.97-0.3x	1.30+0.4x	0.89-0.1x	1.03-0.1x	1.09+0.4x	0.68-0.8x	1.46
Asset Turnover	0.11+0.1x	0.02-0.2x	0.19-1.3x	1.51+0.9x	0.64-3.0x	3.68-0.6x	4.28+1.3x	2.95+0.1x	2.85+1.1x	1.79+0.3x	1.51+0.1x	1.36-0.3x	1.70-0.3x	1.96+0.4x	1.56
FCF Margin	N/A	N/A	-436.1%	-54.5%-49.1pp	-5.3%-7.9pp	2.6%+11.7pp	-9.1%-0.5pp	-8.6%-16.5pp	7.8%+11.9pp	-4.0%+0.6pp	-4.6%-6.0pp	1.5%+4.9pp	-3.4%-22.4pp	18.9%+27.8pp	-8.9%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	49.2%-42.4pp	45.6%-54.4pp	44.2%	37.6%-62.4pp	91.6%-8.4pp	100.0%	2394.6%	100.0%
Operating Margin	-384.1%	-414.4%	-607.0%	-684.5%	-546.5%	-4802.3%	-6483.0%	-12933.3%
Net Margin	-386.0%	-413.2%	-601.9%	-680.1%	-613.0%	-30069.8%	-7141.5%	-12997.0%
Return on Equity	-13.5%+1.6pp	-23.7%+225.6pp	-32.5%	-27.3%	-15.2%	-249.4%	N/A	N/A
Return on Assets	-11.8%+0.4pp	-18.4%+86.2pp	-23.7%+58.6pp	-21.3%+59.5pp	-12.3%+25.9pp	-104.6%-74.8pp	-82.3%	-80.8%-68.4pp
Current Ratio	4.87+2.2x	1.82+0.4x	1.43+0.9x	2.00+0.9x	2.69+2.1x	1.45+0.7x	0.53-0.4x	1.05-0.2x
Debt-to-Equity	0.14-0.1x	0.29-1.1x	0.37	0.28	0.23	1.38	N/A	N/A
Asset Turnover	0.030.0x	0.040.0x	0.040.0x	0.030.0x	0.020.0x	0.000.0x	0.01	0.010.0x

Not reported in any period shown, so not listed: FCF Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Firefly Neuroscience, Inc. AIFF	FY2025	$1.1M	-$19.9M	N/A	$19.1M	36/100
Cyngn Inc. CYN	FY2025	$219K	-$23.5M	N/A	$9.4M	—
Beamr Imaging Ltd. BMR	FY2025	$3.1M	-$6.0M	N/A	$24.1M	55/100
NETCLASS TECHNOLOGY INC NTCL	FY2025	$9.8M	-$10.8M	N/A	$4.2M	19/100
Nukkleus Inc. NUKK	FY2025	N/A	$78.5M	N/A	$52.0M	—
Wetour Robotics Limited WETO	FY2025	$5.0M	-$1.7M	-35.1%	$1.1M	26/100

Where Firefly Neuroscience, Inc. Ranks

Frequently Asked Questions

What is Firefly Neuroscience, Inc.'s annual revenue?

Firefly Neuroscience, Inc. (AIFF) reported $1.1M in total revenue for fiscal year 2025. This represents a 957.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Firefly Neuroscience, Inc.'s revenue growing?

Firefly Neuroscience, Inc. (AIFF) revenue grew by 957.4% year-over-year, from $108K to $1.1M in fiscal year 2025.

Is Firefly Neuroscience, Inc. profitable?

No, Firefly Neuroscience, Inc. (AIFF) reported a net income of -$19.9M in fiscal year 2025.

What is Firefly Neuroscience, Inc.'s EBITDA?

Firefly Neuroscience, Inc. (AIFF) had EBITDA of -$8.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Firefly Neuroscience, Inc.'s gross margin?

Firefly Neuroscience, Inc. (AIFF) had a gross margin of 56.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Firefly Neuroscience, Inc.'s return on equity (ROE)?

Firefly Neuroscience, Inc. (AIFF) has a return on equity of -260.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Firefly Neuroscience, Inc.'s operating cash flow?

Firefly Neuroscience, Inc. (AIFF) recorded an outflow of $8.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Firefly Neuroscience, Inc.'s total assets?

Firefly Neuroscience, Inc. (AIFF) had $10.5M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Firefly Neuroscience, Inc. spend on research and development?

Firefly Neuroscience, Inc. (AIFF) invested $1.5M in research and development during fiscal year 2025.

How many shares does Firefly Neuroscience, Inc. have outstanding?

Firefly Neuroscience, Inc. (AIFF) had 15M shares outstanding as of fiscal year 2025.

What is Firefly Neuroscience, Inc.'s current ratio?

Firefly Neuroscience, Inc. (AIFF) had a current ratio of 1.43 as of fiscal year 2025, which is considered adequate.

What is Firefly Neuroscience, Inc.'s debt-to-equity ratio?

Firefly Neuroscience, Inc. (AIFF) had a debt-to-equity ratio of 0.37 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Firefly Neuroscience, Inc.'s return on assets (ROA)?

Firefly Neuroscience, Inc. (AIFF) had a return on assets of -189.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Firefly Neuroscience, Inc.'s P/E ratio?

Firefly Neuroscience, Inc. (AIFF) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $19.1M as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Firefly Neuroscience, Inc.'s price-to-sales ratio?

Firefly Neuroscience, Inc. (AIFF) trades at 10.6x sales, its market capitalization divided by revenue of $1.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $19.1M as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Firefly Neuroscience, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Firefly Neuroscience, Inc. (AIFF) held $2.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $8.2M over that year. Dividing the one by the other, the reported balance equals about 4 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Firefly Neuroscience, Inc.'s Altman Z-Score?

Firefly Neuroscience, Inc. (AIFF) has an Altman Z-Score of -13.41, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Firefly Neuroscience, Inc.'s Piotroski F-Score?

Firefly Neuroscience, Inc. (AIFF) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Firefly Neuroscience, Inc.'s earnings high quality?

Firefly Neuroscience, Inc. (AIFF) reported a net loss of $19.9M while operations used $8.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Firefly Neuroscience, Inc.?

Firefly Neuroscience, Inc. (AIFF) scores 36 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.