Odysight.ai reported financial results for the nine months ended September 30, 2025, showing revenue of $2.6 million, a 4 % year‑over‑year decline from $2.7 million, and a net loss of $12.8 million, compared with a $8.2 million loss in the same period a year earlier.
The revenue dip reflects the company’s ongoing transition from a single medical customer to a diversified industrial and defense portfolio. Revenue from the vision‑based platform fell to $0.7 million, while revenue generated from released contract liability was $1.7 million. The shift has reduced the high‑margin medical segment, but the company is beginning to capture revenue from its growing backlog of government and defense contracts.
Operating expenses rose to $14.4 million, driven by a $9.2 million increase in research and development, a $3.1 million rise in marketing and sales, and a $2.1 million increase in general and administrative costs. These investments support the company’s expansion into aerospace, transportation, and energy markets and the development of new AI‑powered predictive‑maintenance solutions.
Odysight.ai’s backlog reached $14.2 million, largely composed of government and defense contracts, and its cash balance stood at $29.8 million as of September 30, 2025. The backlog monetization is beginning to translate into revenue, and the cash runway of at least 12 months provides a cushion for continued investment in the new markets.
Chief Executive Officer Yehu Ofer said the first nine months of 2025 marked a transformative phase, noting that backlog monetization has started to drive revenue growth and that the pivot from medical to industrial markets is delivering results. Chief Financial Officer Einav Brenner highlighted the company’s disciplined execution, emphasizing that the strong cash position enables continued expansion while maintaining financial discipline.
The company did not provide forward‑looking guidance in the release, but the combination of a growing backlog, robust cash reserves, and strategic investments suggests a focus on scaling the new industrial and defense business lines while managing the higher operating costs associated with that transition.
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