Odysight.ai Reports Full Year 2025 Financial Results and Strategic Progress Across Aerospace, Defense, and Industrial Markets
Rhea-AI Summary
Odysight.ai (NASDAQ: ODYS) reported full year 2025 results on March 19, 2026, showing $3.0M total revenue and $17.0M net loss. Core vision-based PdM/CBM revenues grew ~23% YoY. Backlog stood at $13.8M and cash was approximately $26.0M with no debt. Operating expenses rose to $19.0M, reflecting investments in aerospace, defense, industrial commercialization, and Nasdaq uplisting costs.
The company highlighted major aerospace and defense milestones, expanded commercial footprints in the U.S. and EU, a large industrial PO for 200 systems, and continued backlog monetization beginning in 2026.
Positive
- Core platform revenue +23% year-over-year
- Backlog of $13.8M providing multi-year revenue visibility
- Cash balance approximately $26.0M and no debt
- Secured large industrial PO for 200 elevator monitoring systems
Negative
- Total revenue declined ~25% to $3.0M from $4.0M
- Operating expenses increased to $19.0M (up ~39%)
- Net loss widened to $17.0M from $11.8M
Key Figures
Market Reality Check
Peers on Argus
Before this report, ODYS was down 2.36% with light volume, while close peers showed mixed moves (e.g., ACFN up 4.5%, SOTK down 4.71%, GNSS down 2.4%, WRAP up 2.72%). Scanner momentum names (FCUV, ASTC) also moved in opposite directions, supporting a stock-specific read on this earnings update.
Previous Earnings,AI Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 13 | Nine-month 2025 results | Neutral | -0.6% | 9M 2025 results with higher backlog and cash but larger net loss. |
| Aug 13 | H1 2025 earnings | Neutral | +1.8% | H1 2025 revenue growth and strong backlog offset by wider net loss. |
| May 15 | Q1 2025 earnings | Positive | -8.0% | Q1 2025 revenue surge driven by major medical contract and backlog build. |
| Mar 26 | Full-year 2024 results | Neutral | +0.0% | FY 2024 results showing 31% revenue growth, higher backlog, and larger loss. |
| Nov 14 | Nine-month 2024 results | Neutral | +0.2% | 9M 2024 revenue and backlog growth alongside continued operating losses. |
Earnings/AI updates have generally produced modest share moves, with one notable selloff on a largely positive Q1 2025 report. The market has tended to react cautiously to widening losses and higher operating spend even when revenue and backlog trends improve.
Over the past five earnings/AI updates (Nov 2024–Nov 2025), Odysight.ai has reported steady revenue growth and a large backlog while absorbing higher losses tied to its pivot into aerospace, defense, and industrial AI. Revenue rose from $2.7M for 9M 2024 to $4.0M for full-year 2024, with backlog around $14–16M. Cash has been reinforced by a $10.3M private placement and a $23.7M public offering. Today’s full-year 2025 report continues that theme of investment-led expansion and backlog monetization.
Historical Comparison
Past earnings/AI reports for ODYS have averaged moves of about -1.33%, indicating generally cautious reactions rather than sharp re-ratings after results.
Across these earnings updates, Odysight.ai has progressed from early 2024 growth with a $16M backlog to later 2025 reports emphasizing backlog around $14–15M, higher operating expenses, and a completed pivot from medical into aerospace, defense, and industrial AI platforms.
Regulatory & Risk Context
An effective Form S-3 shelf filed on 2026-01-30 registers up to $200,000,000 of securities (equity, debt, warrants and units), giving the company flexibility to raise capital in multiple future offerings. As of the latest data, no sales have been made under this shelf.
Market Pulse Summary
This announcement details Odysight.ai’s 2025 transition year, with total revenue of $3.0M but approximately 23% growth in core PdM/CBM revenues and a $13.8M backlog. Operating expenses rose to $19.0M and net loss to $17.0M as the company invested in aerospace, defense and industrial markets following its Nasdaq uplisting and $23.7M raise. Investors may watch backlog conversion, cash usage against the $26.0M balance, and future use of the $200,000,000 mixed shelf.
Key Terms
predictive maintenance technical
condition-based maintenance technical
cbm technical
underwritten public offering financial
dual listing financial
backlog financial
AI-generated analysis. Not financial advice.
Ramat Gan, Israel, March 19, 2026 (GLOBE NEWSWIRE) -- Odysight.ai Inc. (NASDAQ: ODYS), a leader in AI-powered visual sensing and predictive maintenance (PdM) solutions for the aerospace, defense, and industrial markets, today announces its full year 2025 financial results and provides a business update.
Key Full Year 2025 Highlights:
| ● | Vision-based PdM/CBM platform revenues grew approximately | |
| ● | Backlog2 of approximately | |
| ● | Cash balance1 of approximately | |
| ● | Significant aerospace and defense milestones: Delivered our first systems for UAVs under a contract with a Top 25 global defense contractor; Delivered vision-based monitoring system for the Heron TP UAV (a strategic asset to the Israeli Ministry of Defense and Air Force); Delivered major milestones under the Israeli Air Force SH-60 program; Completed a successful technology demonstration on an AW139 Leonardo helicopter with the Italian Air Force Flight Test Unit; Demonstrated next generation of high-temperature optical sensors in aerospace OEM trials in South-East Asia; Received two new pilot orders from a major defense customer for combat helicopter and airborne weapons monitoring (January 2026); Partnered for its first U.S. flight testing of our system on UH-60 Helicopter (January 2026). | |
| ● | Expanded into high-volume industrial markets: Received first commercial purchase order for 200 industrial predictive monitoring systems for elevator belt monitoring from a leading European provider; Completed a successful proof-of-concept on heavy-duty mine trucks with a major international automotive OEM in South America; Successfully deployed several systems in operational railway, and advanced the Israel Railways AI-powered derailment prevention collaboration. | |
| ● | Strengthened international presence with new commercial team in the United States, new European Union subsidiary and the appointment of a Chief Business Officer, while showcasing our solutions with global players in the aerospace and defense sectors, as well as with global infrastructure technologies companies. | |
| ● | Uplisted to the Nasdaq Capital Market in February 2025 and completed a U.S. underwritten public offering with gross proceeds of approximately | |
| ● | Potential Dual Listing on TASE: Our Board of Directors is exploring a potential dual listing on the Tel Aviv Stock Exchange (“TASE”), which we believe would expand access to Israeli and international investors, supporting our long-term growth strategy. | |
Yehu Ofer, Chief Executive Officer of Odysight.ai commented: “2025 was a transformative year for Odysight.ai. We successfully transitioned from our legacy medical business and are now fully focused on the high-value aerospace, defense, and industrial sectors where our AI-powered visual sensing technology delivers the greatest impact.
Our technology is now deployed, or under evaluation, on combat helicopters, strategic UAV platforms, NASA space vehicles, railway infrastructure, elevator systems, and heavy-duty mining vehicles, demonstrating the versatility of our platform across some of the world’s most demanding environments. With our expanding U.S. and EU teams, we believe we are well positioned to accelerate commercialization and scale our global operations.”
Einav Brenner, Chief Financial Officer of Odysight.ai added: “Our full year 2025 results reflect a period of investment in our growth. While total revenues of
The increase in operating expenses to
We ended the year with approximately
1 Including cash, cash equivalents and restricted cash.
2 Backlog is measured and defined differently by companies within our industry. We refer to “backlog” as our booked orders based on purchase orders or hard commitments but not yet recognized as revenue. Backlog is not a comprehensive indicator of future revenue and is not a measure of profitability. Orders included in backlog may be cancelled or rescheduled by customers. A variety of conditions, both specific to the individual customer and generally affecting the customer’s industry, may cause customers to cancel, reduce or delay orders that were previously made or anticipated. Projects may remain in backlog for extended periods of time.
Financial highlights for full year ended December 31, 2025
Revenues for the year ended December 31, 2025 were
Revenues for the year ended December 31, 2025 were primarily comprised of
Backlog2 was approximately
Cost of Revenues was
Gross Profit was
Operating expenses were
The increase in operating expenses was primarily driven by the expansion of the Company’s operations, including the maturation of our aerospace product, development of new industrial products, enhanced global selling and marketing activities, including efforts to penetrate new markets and verticals and increase product visibility, as well as one-time expenses related to the Company’s uplisting to Nasdaq.
Net loss was
Cash Balance1 as of December 31, 2025 was approximately
About Odysight.ai
Odysight.ai, incorporated in Nevada U.S., with European and Israeli subsidiaries, is pioneering the Predictive Maintenance (PdM) and Condition Based Monitoring (CBM) markets with its visualization and AI-powered visual sensing. Providing video sensor-based solutions for critical systems in the aviation, transportation, and energy industries, Odysight.ai leverages proven visual technologies and products from the medical industry. Odysight.ai’s unique video-based sensors, embedded software, and AI algorithms are being deployed in hard-to-reach locations and harsh environments across a variety of PdM and CBM use cases. Odysight.ai’s platform allows maintenance and operations teams visibility into areas that are otherwise inaccessible during normal operation, or where the operating ambience is not suitable for continuous real-time monitoring.
We routinely post information that may be important to investors in the Investors section of our website. For more information, please visit: http://www.odysight.ai or follow us on X (formerly Twitter) , LinkedIn and YouTube.
Backlog
We present our results of operations in a way that we believe will be the most meaningful and useful to investors, analysts, rating agencies and others who use our financial information to evaluate our performance. Backlog is presented for supplemental informational purposes only, and is not intended to be a substitute for any GAAP financial measures, including revenue or net income (loss), and, as calculated, may not be comparable to companies in other industries or within the same industry with similarly titled measures of performance. In addition, backlog should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Therefore, backlog should be considered in addition to, not as a substitute for, or in isolation from, measures prepared in accordance with GAAP.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, expectations regarding monetization of backlog, the potential for the expansion of the backlog and statements regarding long-term growth prospects. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. Those statements are based on information we have when those statements are made or our management’s current expectation and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward- looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to the following: (i) our ability to scale up our operations, including market acceptance and large-scale adoption of our vision-based sensor products, (ii) the amount and timing of future sales and our long and unpredictable sales cycles, (iii) our ability to maintain product quality and performance at an acceptable cost and meet technical and quality specifications, (iv) our ability to accurately estimate the future supply and demand for our solutions and changes to various factors in our supply chain, (v) the market for adoption of vision-based sensor technologies, (vi) compliance with existing laws and regulations and regulatory developments in the United States, Israel, and other jurisdictions, including trade control laws, export authorizations and safety regulations, (vii) our plans and ability to obtain, maintain, and protect intellectual property rights, including extensions of patent terms, and our ability to avoid infringing the intellectual property rights of others, (viii) the need to hire additional personnel and our ability to attract and retain such personnel, including key members of our senior management, (ix) our estimates regarding expenses, backlog, future revenue, capital requirements and need for additional financing, (x) our dependence on third parties, including suppliers and strategic partners, (xi) our dependence on a limited number of customers for a substantial portion of our revenues, and the impact if order volumes from existing or anticipated customers do not meet expectations (xii) our financial performance and history of operating losses, (xiii) the growth of regulatory requirements and incentives, (xiv) the incorporation of artificial intelligence, or AI, and machine learning, or ML, into our products, (xv) risks related to product liability claims or product recalls, (xvi) cybersecurity risks and potential data security breaches, (xvii) the overall global economic environment and trade tensions, including the adoption or expansion of economic sanctions, tariffs or trade restrictions, (xviii) challenges and risks related to sales to government entities and highly regulated organizations, (xix) the impact of competition and new technologies, (xx) limitations and exclusivity provisions in our customer agreements and restrictions on the use of intellectual property, (xxi) our ability to ensure that our solutions interoperate with a variety of hardware and software platforms, (xxii) our plans to continue to invest in research and develop technology for new products, (xxiii) our plans to potentially acquire complementary businesses, (xxiv) the impact of future pandemics on our business and on the business of our customers, (xxv) fluctuations in foreign currency exchange rates, (xxvi) security, political and economic instability in the Middle East that could harm our business, including due to the security situation in Israel; and military conflicts with Iran and terrorist organizations and (xxvii) the increased expenses and requirements associated with being a listed public company on the Nasdaq Capital Market, or Nasdaq. These and other important factors discussed in Odysight.ai’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 19, 2026, and our other reports filed with the SEC, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Except as required under applicable securities legislation, Odysight.ai undertakes no obligation to publicly update or revise forward-looking information.
Company Contact:
Einav Brenner, CFO
info@odysight.ai
Investor Relations Contact:
Miri Segal
MS-IR LLC
msegal@ms-ir.com
Tel: +1-917-607-8654
(Tables to follow)
ODYSIGHT.AI INC.
CONSOLIDATED BALANCE SHEETS
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| USD in thousands | ||||||||
| Assets | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | 25,677 | 18,164 | ||||||
| Restricted cash | 333 | - | ||||||
| Restricted deposit | - | 322 | ||||||
| Accounts receivable | 278 | 1,510 | ||||||
| Inventory | 50 | 203 | ||||||
| Other current assets | 1,164 | 588 | ||||||
| Total current assets | 27,502 | 20,787 | ||||||
| NON-CURRENT ASSETS: | ||||||||
| Contract fulfillment assets | - | 1,017 | ||||||
| Property and equipment, net | 346 | 407 | ||||||
| Operating lease right-of-use assets | 739 | 1,113 | ||||||
| Severance pay asset | 296 | 259 | ||||||
| Other non-current assets | 96 | 96 | ||||||
| Total non-current assets | 1,477 | 2,892 | ||||||
| TOTAL ASSETS | 28,979 | 23,679 | ||||||
| Liabilities and shareholders’ equity | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Accounts payable | 480 | 442 | ||||||
| Contract liabilities - short term | 165 | 702 | ||||||
| Operating lease liabilities - short term | 511 | 539 | ||||||
| Accrued compensation expenses | 1,400 | 1,124 | ||||||
| Related parties | 115 | 120 | ||||||
| Other current liabilities | 327 | 368 | ||||||
| Total current liabilities | 2,998 | 3,295 | ||||||
| NON-CURRENT LIABILITIES: | ||||||||
| Contract liabilities - long term | - | 1,373 | ||||||
| Operating lease liabilities - long term | 259 | 508 | ||||||
| Liability for severance pay | 296 | 259 | ||||||
| Total non-current liabilities | 555 | 2,140 | ||||||
| TOTAL LIABILITIES | 3,553 | 5,435 | ||||||
| SHAREHOLDERS’ EQUITY: | ||||||||
| Common stock, | 17 | 13 | ||||||
| Additional paid-in capital | 88,418 | 64,205 | ||||||
| Accumulated deficit | (63,009 | ) | (45,974 | ) | ||||
| TOTAL SHAREHOLDERS’ EQUITY | 25,426 | 18,244 | ||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 28,979 | 23,679 | ||||||
ODYSIGHT.AI INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
| Year ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| USD in thousands (except per share data) | ||||||||
| REVENUES | 3,015 | 3,964 | ||||||
| COST OF REVENUES | 2,144 | 2,807 | ||||||
| GROSS PROFIT | 871 | 1,157 | ||||||
| RESEARCH AND DEVELOPMENT EXPENSES | 9,639 | 6,884 | ||||||
| SALES AND MARKETING EXPENSES | 2,327 | 1,218 | ||||||
| GENERAL AND ADMINISTRATIVE EXPENSES | 7,040 | 5,562 | ||||||
| OPERATING LOSS | (18,135 | ) | (12,507 | ) | ||||
| FINANCING INCOME, NET | 1,100 | 740 | ||||||
| NET LOSS | (17,035 | ) | (11,767 | ) | ||||
| Net loss per share (basic and diluted, in USD) | (1.07 | ) | (1.03 | ) | ||||
| Weighted average common shares (basic and diluted, in thousands) | 15,900 | 11,445 | ||||||
FAQ
How did Odysight.ai (ODYS) perform financially in full year 2025?
What is Odysight.ai's reported backlog and what does it mean for 2026 (ODYS)?
How strong is Odysight.ai's liquidity position after the 2025 results (ODYS)?
Why did Odysight.ai's operating expenses increase in 2025 and how material was the rise (ODYS)?
What commercial milestones did Odysight.ai announce in aerospace, defense, and industrial markets (ODYS)?
