Financial and Operating Results Summary for the three months and year ended December 31, 2025
The Company is currently in the clinical trial and regulatory stage of its software as a medical device (SaMD) technology offering with anticipated commercialization initiatives commencing in Q3-Q4 2026 pending successful regulatory approvals. During the three months ended December 31, 2025, the Company had total operating expenses, inclusive of interest, depreciation and non-cash-based share compensation expense, of $2.3 million compared to $5.6 million for the three months ended September 30, 2025 and $2.4 million for the three months ended December 31, 2024. The decline in total operating expense for the three months ended December 31, 2025 over the prior period is primarily attributable to lower marketing expenses, product development expenses and non-share-based compensation. The Company had total operating expenses, inclusive of depreciation and non-cash-based share compensation expense of $4.3 million, of $16.1 million for the year ended December 31, 2025 which increased from $8.1 million in the prior year due primarily to increased marketing and investor relations expenses as a result of becoming a public company during 2025 in addition to increased product development costs.
The Company had cash of $6.5 million with total assets of $6.9 million as at December 31, 2025 compared to cash of $15.2 million with total assets of $17.1 million as at December 31, 2024. On January 8, 2025, the Company closed the second of two tranches of the Offering by issuing 2,757,000 units of the Company at $0.55 per unit for aggregate gross proceeds of $1,516,350. The Company had Adjusted Working Capital of $5.4 million as at December 31, 2025 compared to $14.6 million as at December 31, 2024.
"Light AI has reached a key inflection point with the completion of its first commercially ready QuickScan™ Strep A application," said John R. Luna, CEO. "We are executing on a dual-track strategy both advancing clinical trials while advancing regulatory approvals to be ready to pursue multiple commercialization opportunities to accelerate market entry. With a large and underserved global market, we believe Light AI is well positioned to establish early leadership, supported by our patented technology and first-mover advantage. Our focus is on disciplined execution to drive near-term revenue opportunities and deliver long-term shareholder value."
Financial Statements and ...
