2024 Q2 Form 10-Q Financial Statement
#000149315224019838 Filed on May 15, 2024
Income Statement
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
|---|---|---|---|
| Revenue | $1.181M | $187.0K | $303.0K |
| YoY Change | 75.22% | -38.28% | 15050.0% |
| Cost Of Revenue | $667.0K | $410.0K | $550.0K |
| YoY Change | -14.16% | -25.45% | 90.97% |
| Gross Profit | $514.0K | -$223.0K | -$247.0K |
| YoY Change | -599.03% | -9.72% | -13.64% |
| Gross Profit Margin | 43.52% | -119.25% | -81.52% |
| Selling, General & Admin | $1.470M | $1.574M | $1.134M |
| YoY Change | -11.5% | 38.8% | -25.83% |
| % of Gross Profit | 285.99% | ||
| Research & Development | $1.408M | $1.567M | $1.398M |
| YoY Change | 3.91% | 12.09% | 46.54% |
| % of Gross Profit | 273.93% | ||
| Depreciation & Amortization | $31.00K | $33.00K | $155.0K |
| YoY Change | -16.22% | -78.71% | 210.0% |
| % of Gross Profit | 6.03% | ||
| Operating Expenses | $2.878M | $3.141M | $2.532M |
| YoY Change | -4.58% | 24.05% | 2.3% |
| Operating Profit | -$2.364M | -$3.364M | -$2.779M |
| YoY Change | -24.21% | 21.05% | 0.65% |
| Interest Expense | $202.0K | $86.00K | |
| YoY Change | 134.88% | -418.52% | |
| % of Operating Profit | |||
| Other Income/Expense, Net | |||
| YoY Change | |||
| Pretax Income | -$3.162M | -$2.686M | |
| YoY Change | 17.72% | -3.66% | |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$2.182M | -$3.162M | -$2.686M |
| YoY Change | -24.13% | 17.72% | -3.66% |
| Net Earnings / Revenue | -184.76% | -1690.91% | -886.47% |
| Basic Earnings Per Share | -$0.21 | $0.30 | -$0.37 |
| Diluted Earnings Per Share | -$0.21 | $0.30 | -$0.37 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 10.45M shares | 10.45M shares | 10.43M shares |
| Diluted Shares Outstanding | 10.45M shares | 10.45K shares | 7.276K shares |
Balance Sheet
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $15.59M | $24.59M | |
| YoY Change | -36.6% | 27.28% | |
| Cash & Equivalents | $13.24M | $7.362M | $9.583M |
| Short-Term Investments | $8.228M | $15.01M | |
| Other Short-Term Assets | $657.0K | $562.0K | $564.0K |
| YoY Change | -1.65% | -0.35% | 35.58% |
| Inventory | $439.0K | $604.0K | $693.0K |
| Prepaid Expenses | |||
| Receivables | $758.0K | $123.0K | $61.00K |
| Other Receivables | $0.00 | $0.00 | |
| Total Short-Term Assets | $15.41M | $17.19M | $25.91M |
| YoY Change | -34.73% | -33.65% | 29.93% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $443.0K | $466.0K | $508.0K |
| YoY Change | -13.65% | -8.27% | -58.29% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $96.00K | $96.00K | $268.0K |
| YoY Change | -63.36% | -64.18% | -31.28% |
| Total Long-Term Assets | $3.168M | $3.352M | $2.557M |
| YoY Change | 12.98% | 31.09% | -22.11% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $15.41M | $17.19M | $25.91M |
| Total Long-Term Assets | $3.168M | $3.352M | $2.557M |
| Total Assets | $18.57M | $20.54M | $28.46M |
| YoY Change | -29.67% | -27.83% | 22.57% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $292.0K | $399.0K | $365.0K |
| YoY Change | -62.27% | 9.32% | 60.79% |
| Accrued Expenses | $1.371M | $943.0K | |
| YoY Change | 45.39% | 12.4% | |
| Deferred Revenue | $611.0K | $557.0K | $1.304M |
| YoY Change | -35.95% | -57.29% | |
| Short-Term Debt | $0.00 | $0.00 | |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $2.643M | $2.670M | $2.620M |
| YoY Change | -11.4% | 1.91% | 11.87% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | |
| YoY Change | |||
| Other Long-Term Liabilities | $2.468M | ||
| YoY Change | -24.73% | ||
| Total Long-Term Liabilities | $2.505M | $2.726M | $2.468M |
| YoY Change | -4.75% | 10.45% | -24.73% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $2.643M | $2.670M | $2.620M |
| Total Long-Term Liabilities | $2.505M | $2.726M | $2.468M |
| Total Liabilities | $5.148M | $5.396M | $5.088M |
| YoY Change | -8.28% | 6.05% | -9.48% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$39.55M | -$37.40M | -$27.45M |
| YoY Change | 30.53% | 36.26% | |
| Common Stock | $52.98M | $52.51M | $50.82M |
| YoY Change | 3.63% | 3.33% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $13.43M | $15.15M | $23.38M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $18.57M | $20.54M | $28.46M |
| YoY Change | -29.67% | -27.83% | 22.57% |
Cashflow Statement
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$2.182M | -$3.162M | -$2.686M |
| YoY Change | -24.13% | 17.72% | -3.66% |
| Depreciation, Depletion And Amortization | $31.00K | $33.00K | $155.0K |
| YoY Change | -16.22% | -78.71% | 210.0% |
| Cash From Operating Activities | -$2.093M | -$1.230M | -$2.474M |
| YoY Change | -19.78% | -50.28% | 1004.46% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $8.000K | $22.00K | $15.00K |
| YoY Change | -80.95% | 46.67% | -162.5% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | -$12.00M | |
| YoY Change | -100.0% | ||
| Cash From Investing Activities | $7.992M | -$22.00K | -$12.02M |
| YoY Change | -325.64% | -99.82% | 49962.5% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | $13.98M | ||
| YoY Change | |||
| NET CHANGE | |||
| Cash From Operating Activities | -$2.093M | -$1.230M | -$2.474M |
| Cash From Investing Activities | $7.992M | -$22.00K | -$12.02M |
| Cash From Financing Activities | $13.98M | ||
| Net Change In Cash | $5.899M | -$1.252M | -$512.0K |
| YoY Change | -194.92% | 144.53% | |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$2.093M | -$1.230M | -$2.474M |
| Capital Expenditures | $8.000K | $22.00K | $15.00K |
| Free Cash Flow | -$2.101M | -$1.252M | -$2.489M |
| YoY Change | -20.75% | -49.7% | 1144.5% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
usd | |
| CY2024Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
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| CY2024Q1 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
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| CY2024Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
usd | |
| CY2023Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
usd | |
| CY2024Q1 | ODYS |
Severance Pay Asset And Liability
SeverancePayAssetAndLiability
|
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| CY2024Q1 | ODYS |
Withdrawal Short Term Deposits
WithdrawalShortTermDeposits
|
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| CY2024Q1 | ODYS |
Payments Investment To Short Term Deposits
PaymentsInvestmentToShortTermDeposits
|
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| CY2024Q1 | ODYS |
Proceeds From Issuance Of Shares And Warrants
ProceedsFromIssuanceOfSharesAndWarrants
|
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| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
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| CY2023Q1 | ODYS |
Termination Of Rightofuse Assets In Exchange For Cancellation Of Operating Lease Obligations
TerminationOfRightofuseAssetsInExchangeForCancellationOfOperatingLeaseObligations
|
usd | |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
shares | |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
||
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
shares | |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
||
| CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
7362000 | usd |
| CY2024Q1 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
310000 | usd |
| CY2024Q1 | us-gaap |
Deposits Assets Current
DepositsAssetsCurrent
|
8228000 | usd |
| CY2023Q4 | us-gaap |
Deposits Assets Current
DepositsAssetsCurrent
|
8096000 | usd |
| CY2024Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
123000 | usd |
| CY2024Q1 | us-gaap |
Inventory Gross
InventoryGross
|
604000 | usd |
| CY2024Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
562000 | usd |
| CY2024Q1 | us-gaap |
Assets Current
AssetsCurrent
|
17189000 | usd |
| CY2024Q1 | us-gaap |
Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
|
1196000 | usd |
| CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
466000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
1327000 | usd |
| CY2024Q1 | ODYS |
Severance Pay Asset
SeverancePayAsset
|
267000 | usd |
| CY2024Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
96000 | usd |
| CY2024Q1 | us-gaap |
Assets Noncurrent
AssetsNoncurrent
|
3352000 | usd |
| CY2024Q1 | us-gaap |
Assets
Assets
|
20541000 | usd |
| CY2024Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
399000 | usd |
| CY2024Q1 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
557000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
472000 | usd |
| CY2024Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
899000 | usd |
| CY2024Q1 | ODYS |
Account Payable Other Current
AccountPayableOtherCurrent
|
304000 | usd |
| CY2023Q4 | ODYS |
Account Payable Other Current
AccountPayableOtherCurrent
|
211000 | usd |
| CY2024Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
2670000 | usd |
| CY2024Q1 | us-gaap |
Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
|
1690000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
779000 | usd |
| CY2024Q1 | ODYS |
Liability For Severance Pay
LiabilityForSeverancePay
|
257000 | usd |
| CY2023Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
28000 | usd |
| CY2024Q1 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
2726000 | usd |
| CY2024Q1 | us-gaap |
Liabilities
Liabilities
|
5396000 | usd |
| CY2024Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2024Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | shares |
| CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | shares |
| CY2024Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
10446685 | shares |
| CY2024Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
10446685 | shares |
| CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
10443768 | shares |
| CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
10443768 | shares |
| CY2024Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
10000 | usd |
| CY2024Q1 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
52504000 | usd |
| CY2024Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-37369000 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
15145000 | usd |
| CY2024Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
20541000 | usd |
| CY2024Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
187000 | usd |
| CY2024Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
410000 | usd |
| CY2023Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
550000 | usd |
| CY2024Q1 | us-gaap |
Gross Profit
GrossProfit
|
-223000 | usd |
| CY2023Q1 | us-gaap |
Gross Profit
GrossProfit
|
-247000 | usd |
| CY2024Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1567000 | usd |
| CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1398000 | usd |
| CY2024Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
234000 | usd |
| CY2023Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
176000 | usd |
| CY2024Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1340000 | usd |
| CY2023Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
958000 | usd |
| CY2024Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3364000 | usd |
| CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2779000 | usd |
| CY2023Q1 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
7000 | usd |
| CY2024Q1 | ODYS |
Financing Income Expenses Net
FinancingIncomeExpensesNet
|
202000 | usd |
| CY2023Q1 | ODYS |
Financing Income Expenses Net
FinancingIncomeExpensesNet
|
86000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3162000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2686000 | usd |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.30 | |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.30 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.37 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.37 | |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10445 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10445 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7276 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
7276 | shares |
| CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
17807000 | usd |
| CY2024Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
500000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3162000 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
15145000 | usd |
| CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
11786000 | usd |
| CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
11786000 | usd |
| CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
348000 | usd |
| CY2023Q1 | ODYS |
Stock Issued During Period Value Of Shares And Warrants
StockIssuedDuringPeriodValueOfSharesAndWarrants
|
13927000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2686000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23375000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23375000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3162000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2686000 | usd |
| CY2024Q1 | us-gaap |
Depreciation
Depreciation
|
33000 | usd |
| CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
155000 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
500000 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
348000 | usd |
| CY2023Q1 | ODYS |
Severance Pay Asset And Liability
SeverancePayAssetAndLiability
|
-54000 | usd |
| CY2024Q1 | ODYS |
Interest And Exchange Differences From Operating Lease Liability
InterestAndExchangeDifferencesFromOperatingLeaseLiability
|
17000 | usd |
| CY2023Q1 | ODYS |
Interest And Exchange Differences From Operating Lease Liability
InterestAndExchangeDifferencesFromOperatingLeaseLiability
|
9000 | usd |
| CY2024Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-21000 | usd |
| CY2023Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-4000 | usd |
| CY2024Q1 | ODYS |
Interest Income In Respect Of Deposits
InterestIncomeInRespectOfDeposits
|
132000 | usd |
| CY2023Q1 | ODYS |
Interest Income In Respect Of Deposits
InterestIncomeInRespectOfDeposits
|
-42000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-1249000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
1000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
100000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
63000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-114000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-48000 | usd |
| CY2024Q1 | ODYS |
Increase Decrease In Right Of Use Asset
IncreaseDecreaseInRightOfUseAsset
|
109000 | usd |
| CY2023Q1 | ODYS |
Increase Decrease In Right Of Use Asset
IncreaseDecreaseInRightOfUseAsset
|
44000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
130000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
283000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
112000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
68000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
2000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
50000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
|
-60000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
|
-60000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-75000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-228000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
353000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-63000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
65000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
182000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1230000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2474000 | usd |
| CY2024Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
22000 | usd |
| CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
15000 | usd |
| CY2023Q1 | ODYS |
Withdrawal Short Term Deposits
WithdrawalShortTermDeposits
|
3000000 | usd |
| CY2023Q1 | ODYS |
Payments Investment To Short Term Deposits
PaymentsInvestmentToShortTermDeposits
|
15000000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-22000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-12015000 | usd |
| CY2023Q1 | ODYS |
Proceeds From Issuance Of Shares And Warrants
ProceedsFromIssuanceOfSharesAndWarrants
|
13977000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
13977000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-1252000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-512000 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
8945000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
10099000 | usd |
| CY2024Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-21000 | usd |
| CY2023Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-4000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
7672000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
9583000 | usd |
| CY2024Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
87000 | usd |
| CY2023Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
83000 | usd |
| CY2024Q1 | ODYS |
Termination Of Rightofuse Assets In Exchange For Cancellation Of Operating Lease Obligations
TerminationOfRightofuseAssetsInExchangeForCancellationOfOperatingLeaseObligations
|
-31000 | usd |
| CY2024Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_804_eus-gaap--NatureOfOperations_zCmq2h8G4qmb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_82B_zQdzhnEf0Iid">GENERAL</span>:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>a</b>.</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Odysight.ai Inc (the “Company”), formerly known as ScoutCam Inc., was incorporated under the laws of the State of Nevada on March 22, 2013.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s wholly owned subsidiary, Odysight.ai Ltd (“Odysight.ai”), formerly known as ScoutCam Ltd., was incorporated in the State of Israel on January 3, 2019, and was merged into the Company on December 31, 2019 in a share exchange transaction, following which the surviving operations of the merged entity were the operations of Odysight.ai. On February 28, 2024, D. VIEW Ltd., a wholly owned subsidiary of the Company, was incorporated in the state of the Israel to act as a local agent for the defense market in Israel.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company, through its subsidiaries, provides image-based platforms. Through the use of its proprietary visualization technology, the Company offers solutions across predictive maintenance and condition-based monitoring markets, in sectors such as energy, automotive and aviation. The Company’s solutions are based on small and highly resilient cameras, specialized AI analysis and supplementary technologies. Some of the Company’s products utilize micro visualization technology in medical devices for minimally invasive medical procedures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ODYSIGHT.AI INC. (Formerly known as ScoutCam Inc.)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – GENERAL </b>(continued):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>b</b>.</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since incorporation of Odysight.ai and through March 31, 2024, the Company accumulated a deficit of approximately $<span id="xdx_90F_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20240331_z76N5gmLAaj1" title="Accumulated deficit">37.4</span> million and its activities have been funded mainly by its shareholders. The Company’s management believes the Company’ cash and cash resources will allow the Company to fund its operating plan through at least the next 12 months from the filing date of these Consolidated Financial Statements. However, the Company expects to continue to incur significant research and development and other costs related to its ongoing operations, requiring the Company to obtain additional funding in order to continue its future operations until becoming profitable.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
| CY2024Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-37400000 | usd |
| CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_847_eus-gaap--UseOfEstimates_zI1v8sEvgrXf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>c. <span id="xdx_863_zFOCrs1noAn4">Use of estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. The Company evaluates on an ongoing basis its assumptions, including those related to contingencies, deferred taxes, inventory impairment, stock-based compensation, as well as in estimates used in applying the revenue recognition policy. Actual results may differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
| CY2023Q2 | us-gaap |
Sublease Income
SubleaseIncome
|
7000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
151000 | usd |
| CY2023Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
57000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P0Y10M20D | |
| CY2024Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.06 | pure |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
433000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
539000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
421000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
154000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
1547000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
296000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1251000 | usd |
| CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2455069 | shares |
| CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
3.46 | |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2455069 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
3.46 | |
| CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
1245669 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
|
3.46 | |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
500000 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
348000 | usd |
| CY2024Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
187000 | usd |
| CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
303000 | usd |
| CY2024Q1 | us-gaap |
Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
|
P7Y | |
| CY2024Q1 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
1196000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
1256000 | usd |
| CY2024Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2247000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2322000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
1256000 | usd |
| CY2022Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
1495000 | usd |
| CY2024Q1 | ODYS |
Contract With Customer Asset Contract Costs
ContractWithCustomerAssetContractCosts
|
-60000 | usd |
| CY2023 | ODYS |
Contract With Customer Asset Contract Costs
ContractWithCustomerAssetContractCosts
|
-239000 | usd |
| CY2024Q1 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
1196000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
1256000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2322000 | usd |
| CY2022Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
3644000 | usd |
| CY2024Q1 | ODYS |
Contract With Customer Liability Revenue Recognized Development Services
ContractWithCustomerLiabilityRevenueRecognizedDevelopmentServices
|
-75000 | usd |
| CY2023 | ODYS |
Contract With Customer Liability Revenue Recognized Development Services
ContractWithCustomerLiabilityRevenueRecognizedDevelopmentServices
|
-1322000 | usd |
| CY2024Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2247000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2322000 | usd |
| CY2024Q1 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
2200000 | usd |
| CY2024Q1 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
441000 | usd |
| CY2023Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
445000 | usd |
| CY2024Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
50000 | usd |
| CY2023Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
34000 | usd |
| CY2024Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
113000 | usd |
| CY2023Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
25000 | usd |
| CY2024Q1 | us-gaap |
Inventory Net
InventoryNet
|
604000 | usd |
| CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
504000 | usd |
| CY2024Q1 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
0 | usd |
| CY2023Q1 | us-gaap |
Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
|
29000 | usd |
| CY2024Q1 | ODYS |
Royalties Agreement Description
RoyaltiesAgreementDescription
|
Pursuant to the agreement with the IIA relating to the program, the Company has to pay royalties of 3% to the IIA up to the amount IIA funding received and the accrued interest repayment of the grant is contingent upon the Company successfully completing its enhancement plans and generating sales from the enhancements preformed. |
