Quarterly ResultAug 13, 2026, 09:33 AM
Odysight.ai H1 2026 Revenue $0.5M, Net Loss $9.5M; Backlog $16.45M
AI Summary
Odysight.ai Inc. reported financial results for the first half of 2026, with revenues of $0.5 million, a significant decrease from $2.4 million in the prior year, and a net loss of $9.5 million, up from $8.3 million. Despite the H1 financial performance, the company announced a substantial increase in backlog to $16.45 million and highlighted several key strategic wins. These include a first direct purchase order from Boeing, a proof-of-concept order from Honeywell Aerospace, a purchase order from Elbit Systems for the Israeli Ministry of Defense, and a CRADA with the U.S. Navy's NAWCAD, indicating strong business development and future revenue potential.
Key Highlights
- Backlog increased to $16.45 million as of the release date, up from $14.1 million on June 30, 2026.
- Cash balance was approximately $17.6 million as of June 30, 2026, with no debt.
- Revenues for the first half of 2026 were $0.5 million, down from $2.4 million in H1 2025.
- Net loss for the first half of 2026 was approximately $9.5 million, compared to $8.3 million in H1 2025.
- Received first direct purchase order from Boeing for AI-powered predictive maintenance solution.
- Secured a purchase order from Elbit Systems for deployment with the Israeli Ministry of Defense.
- Received a proof-of-concept purchase order from Honeywell Aerospace APU Division.
- Signed a Cooperative Research and Development Agreement (CRADA) with the U.S. Navy's NAWCAD.
Price Impact
More from ODYS