Wed, May 14, 10:10 AM (38 days ago)
**Firefly Neuroscience, Inc. (AIFF) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $43,000 (up 258% from $12,000 in Q1 2024). - **Operating Expenses:** $2,108,000 (up 91% from $1,103,000 in Q1 2024). - **Research & Development:** $312,000 (up 8%). - **Selling & Marketing:** $208,000 (down 16%). - **General & Administration:** $1,588,000 (up 181%). - **Net Loss:** $12,930,000 (up 1,063% from $1,122,000 in Q1 2024). - **Cash Flow:** Negative $2,511,000 from operations (up 90% from negative $1,319,000 in Q1 2024). **Profit Margins:** - **Gross Margin:** Not explicitly stated, but implied to be negative due to operating loss. - **Operating Margin:** -484% (Operating Loss of $2,065,000 / Revenue of $43,000). **Cash Flow:** - **Operating Cash Flow:** Negative $2,511,000 (up 90% from negative $1,319,000 in Q1 2024). - **Investing Cash Flow:** Negative $7,000 (down 95% from negative $131,000 in Q1 2024). - **Financing Cash Flow:** Positive $10,253,000 (up 985% from $945,000 in Q1 2024). **Earnings Changes:** - **Earnings per Share (EPS):** Negative $1.74 (down 682% from negative $0.22 in Q1 2024). **Quarterly Performance Discussion:** - **Revenue Growth:** Driven by increased customers, BNA scans per customer, and revenue from clinical studies. - **Expense Increases:** Primarily due to management options vesting, insurance, audit fees, and investor relations costs. - **Cash Flow:** Negative operating cash flow due to increased operating costs and a reduction in trade payables. **Trends and Uncertainties:** - **Going Concern:** Substantial doubt about the company's ability to continue as a going concern due to recurring losses and negative cash flow. - **Funding:** Plans to raise additional capital to support operations and commercialization efforts. - **Acquisitions:** Completed acquisition of Evoke Neuroscience, Inc. for $6,000,000 (cash and stock). - **Market Risks:** Dependence on successful commercialization of the BNA Platform and potential impacts from geopolitical events. **Future Operations Impact:** - **Commercialization:** Focus on targeted outreach and client engagement to commercialize the BNA Platform. - **Expenses:** Expect to incur significant costs for at least two to four years to commercialize and distribute products. - **Funding:** Will require substantial capital to support ongoing operations and drive business strategy.