FIREFLY NEUROSCIENCE, INC. AIFF
Firefly Neuroscience, Inc. is an artificial intelligence company advancing precision neuroscience, applying AI and large-scale electrophysiological data to give clinicians a more complete, objective picture of how an individual patient's brain is functioning.
Firefly Neuroscience, Inc. is rebuilding the foundation of how electrophysiological data flows into clinical decision-making for brain health. We believe the brain is the most under-measured organ in medicine, and that the tools to change this have, until now, been inaccessible to the clinicians who need them most.
We have built the Firefly Platform: a vertically integrated hardware, software, and data infrastructure that captures standardized electroencephalographic (EEG) and event-related potential (ERP) assessments at the point of care, analyzes that data through our proprietary analytics engine, and delivers structured, clinician-ready reports back to the provider, all within a single seamless workflow. Every scan expands and enriches our database. Every clinic that joins our network increases the depth and diversity of our data. We describe this compounding relationship between clinical deployment, data acquisition, and report quality as the Firefly Flywheel.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1M | $108.0K | $498.0K | $11.0M | $15.0M | $13.9M | $10.2M | $8.9M | $10.6M | $6.7M |
| Cost of revenue | $497.0K | $0 | — | — | $11.4M | $11.7M | $8.8M | $6.8M | $8.2M | $4.9M |
| Gross profit | $645.0K | $108.0K | $2.6M | $2.9M | $3.6M | $2.2M | $1.4M | $2.1M | $2.4M | $1.8M |
| R&D | $1.5M | $2.0M | $741.0K | — | — | — | — | — | — | — |
| SG&A | $7.0M | $6.1M | $2.2M | $8.3M | $6.2M | $1.8M | $1.9M | $1.7M | $1.7M | $1.9M |
| Total operating expenses | $9.5M | $10.2M | $3.6M | — | — | — | — | — | — | — |
| Operating income | -$8.9M | -$10.1M | -$3.1M | -$5.4M | -$2.6M | $411.8K | -$727.8K | -$62.3K | $237.8K | -$563.5K |
| Interest expense | — | — | $103.3K | $81.6K | $37.3K | $3.1K | — | — | — | — |
| Pre-tax income | -$19.9M | -$10.5M | -$2.6M | -$5.5M | -$2.2M | $413.4K | -$717.2K | -$51.0K | $246.5K | -$553.7K |
| Income tax | $5.0K | $2.0K | $1.0K | $812.5K | $1.1M | $0 | — | — | — | — |
| Net income | -$19.9M | -$10.5M | -$2.6M | -$17.8M | -$1.1M | $413.4K | -$717.2K | -$51.0K | $246.5K | -$553.7K |
| EPS, basic | -1.97 | -1.60 | -0.81 | -10.03 | -0.09 | 0.04 | -0.06 | 0.00 | 0.02 | -0.05 |
| EPS, diluted | — | — | — | — | -0.09 | 0.03 | -0.06 | 0.00 | 0.02 | -0.05 |
| Shares, diluted (wtd. avg.) | 12.4M | 6.5M | 3.2M | 1.8M | 12.6M | 12.0M | 11.2M | 11.2M | 11.6M | 11.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | — | — | $682.0K | $731.1K | $4.9M | $1.9M | $1.0M | $2.0M | $2.7M | $1.9M |
| Receivables | $194.0K | $121.0K | $84.0K | $1.6M | $1.7M | $1.4M | $668.7K | $652.8K | $610.2K | $1.2M |
| Inventory | $108.0K | $0 | — | — | — | — | — | — | — | — |
| Total current assets | $4.0M | $2.6M | $2.3M | $2.8M | $6.9M | $3.4M | $2.2M | $3.0M | $3.7M | $3.7M |
| Property, plant and equipment | $146.0K | $136.0K | $0 | $99.0K | $105.3K | $62.2K | $9.7K | $7.1K | $11.1K | $27.2K |
| Goodwill | $5.2M | $0 | $1.1M | $1.1M | $7.6M | $0 | — | — | — | — |
| Other intangibles | $861.0K | $180.0K | $386.0K | $1.2M | $8.0M | $0 | — | — | — | — |
| Total assets | $10.5M | $4.6M | $2.6M | $8.0M | $23.4M | $3.8M | $2.4M | $3.0M | $3.7M | $3.8M |
| Accounts payable | $1.3M | $1.8M | $630.0K | $573.8K | $650.5K | $103.6K | $216.2K | $25.3K | $47.7K | $49.0K |
| Short-term debt | — | — | — | — | — | $93.0K | — | — | — | — |
| Total current liabilities | $2.8M | $5.0M | $2.5M | $3.9M | $2.0M | $1.8M | $1.2M | $1.2M | — | — |
| Long-term debt | — | — | — | — | — | $357.0K | — | — | — | — |
| Total liabilities | $2.8M | $5.0M | $2.5M | $4.3M | $5.9M | $2.2M | $1.2M | $1.2M | $1.8M | $2.1M |
| Retained earnings | -$111.6M | -$87.1M | -$76.6M | -$31.2M | -$13.4M | -$12.3M | -$12.7M | -$12.0M | -$12.0M | -$12.2M |
| Total equity | $7.6M | -$375.0K | $109.0K | -$2.2M | $17.4M | $1.6M | $1.2M | $1.9M | $1.9M | $1.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$8.2M | -$6.2M | -$2.2M | -$6.0M | -$735.0K | $423.3K | -$917.1K | -$763.5K | $836.1K | -$256.5K |
| Depreciation and amortisation | $172.0K | $67.0K | $0 | $220.0K | $236.6K | $12.1K | $5.8K | $9.8K | $16.9K | $28.3K |
| Stock-based compensation | $749.0K | $2.6M | $295.0K | $1.3M | $1.9M | $27.6K | $6.0K | $29.6K | $15.0K | $9.0K |
| Capital expenditure | — | — | $0 | $535.9K | $69.8K | $64.5K | $8.4K | $5.8K | $840 | $13.4K |
| Investing cash flow | -$2.5M | -$477.0K | -$386.0K | -$535.9K | -$9.6M | -$64.5K | -$8.4K | -$4.1K | $71 | -$16.0K |
| Financing cash flow | $11.6M | $6.3M | $4.6M | $2.3M | $13.4M | $460.0K | $1.0K | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-028044.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.7M | $10.6M | $8.9M | $10.2M | $13.9M | $15.0M | $11.0M | $498.0K | $108.0K | $1.1M |
| Gross profit | $1.8M | $2.4M | $2.1M | $1.4M | $2.2M | $3.6M | $2.9M | $2.6M | $108.0K | $645.0K |
| Net income | -$553.7K | $246.5K | -$51.0K | -$717.2K | $413.4K | -$1.1M | -$17.8M | -$2.6M | -$10.5M | -$19.9M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Officer or director change Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Material agreement signed Item 1.01
- Unregistered share sale Item 3.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Material agreement signed Item 1.01
- Unregistered share sale Item 3.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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