Quarterly ResultMay 13, 2026, 06:07 AM
Firefly Neuroscience Q1 Revenue $485K, Net Loss $(2.0M) vs $(12.9M)
AI Summary
Firefly Neuroscience, Inc. reported a significant improvement in its financial performance for the first quarter ended March 31, 2026. Revenue surged to $485,000 from $43,000 in the prior year, while net loss narrowed substantially to $(2.0) million from $(12.9) million. Despite these improvements, the company continues to face a going concern risk due to an accumulated deficit and negative operating cash flow, necessitating ongoing capital raises. The company successfully raised $2.39 million in Q1 2026 and an additional $8.0 million post-quarter through private placements and warrant exercises.
Key Highlights
- Q1 2026 Revenue: $485,000, up from $43,000 in Q1 2025.
- Q1 2026 Net Loss: $(2.00) million, significantly reduced from $(12.93) million in Q1 2025.
- Q1 2026 Basic & Diluted Loss Per Share: $(0.13), improved from $(1.74) in Q1 2025.
- Cash and cash equivalents: $3.13 million as of March 31, 2026, up from $2.75 million at Dec 31, 2025.
- Net cash used in operating activities: $(1.95) million in Q1 2026, an improvement from $(2.51) million in Q1 2025.
- Raised $2.39 million in gross proceeds in Q1 2026 from private placement and warrant exercises.
- Subsequent to quarter-end, raised an additional $8.0 million in gross proceeds.
- Accumulated deficit: $(113.62) million as of March 31, 2026, indicating going concern risk.