---
title: "Firefly Neuroscience | 10-K: FY2025 Revenue: USD 1.142 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281180015.md"
datetime: "2026-03-31T11:45:30.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281180015.md)
  - [en](https://longbridge.com/en/news/281180015.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281180015.md)
---

# Firefly Neuroscience | 10-K: FY2025 Revenue: USD 1.142 M

Revenue: As of FY2025, the actual value is USD 1.142 M.

EPS: As of FY2025, the actual value is USD -1.97.

EBIT: As of FY2025, the actual value is USD -8.786 M.

#### Segment Revenue

-   **Total Revenue**: Firefly Neuroscience, Inc. reported total revenue of $1,142 thousand for the year ended December 31, 2025, a significant increase from $108 thousand in the prior year, representing a 957% increase, primarily attributed to revenue from the acquisition of Evoke Neuroscience.

#### Operational Metrics

-   **Cost of Goods Sold**: Cost of goods sold for the year ended December 31, 2025, was $497 thousand, compared to $0 in 2024, mainly due to manufacturing and inventory costs (43%) and labor costs (33%).
-   **Gross Profit**: Gross profit was $645 thousand for the year ended December 31, 2025, up from $108 thousand in the previous year.
-   **Research and Development Expenses**: Research and development expenses decreased by $472 thousand, or 24%, from $1,954 thousand in 2024 to $1,482 thousand in 2025, primarily due to equity vesting related to the August 2024 merger.
-   **Selling and Marketing Expenses**: Selling and marketing expenses decreased by $401 thousand, or 33%, from $1,201 thousand in 2024 to $800 thousand in 2025, mainly due to a reduction in consultant use following a rebranding in 2024.
-   **General and Administration Expenses**: General and administration expenses increased by $835 thousand, or 13%, from $6,133 thousand in 2024 to $6,968 thousand in 2025, primarily reflecting additional costs for directors and officers (D&O) insurance (39% of the increase) and accrued fees from the cancellation of the Equity Line of Credit (51% of the increase).
-   **Impairment of Assets**: Impairment expenses were $251 thousand in 2025, down from $874 thousand in 2024, due to a strategic decision to discontinue the BNA software platform and Zeto headsets following the Evoke acquisition.
-   **Total Operating Expenses**: Total operating expenses were $9,501 thousand in 2025, a decrease from $10,162 thousand in 2024.
-   **Operating Loss**: The company reported an operating loss of - $8,856 thousand in 2025, an improvement from an operating loss of - $10,054 thousand in 2024.
-   **Other (Income) Expense**: Other (income) expense was - $11,021 thousand in 2025, a significant increase from - $404 thousand in 2024, primarily due to changes in derivative fair value and loss on settlement of a promissory note.
-   **Loss Before Income Tax**: Loss before income tax increased to - $19,877 thousand in 2025 from - $10,458 thousand in 2024.
-   **Accumulated Deficit**: As of December 31, 2025, Firefly Neuroscience, Inc. had an accumulated deficit of $111,615 thousand.

#### Cash Flow

-   **Operating Activities**: Cash used in operating activities increased by $2,039 thousand, or 33%, from - $6,155 thousand in 2024 to - $8,194 thousand in 2025, mainly due to increased day-to-day operating costs, reduced liabilities, and R&D costs for platform integrations.
-   **Investing Activities**: Net cash used in investing activities increased by $2,011 thousand, or 422%, from - $477 thousand in 2024 to - $2,488 thousand in 2025, primarily due to the acquisition of Evoke Neuroscience.
-   **Financing Activities**: Net cash provided from financing activities increased by $5,320 thousand, or 84%, from $6,299 thousand in 2024 to $11,619 thousand in 2025, driven by warrant exercises and unit offerings.

#### Outlook / Guidance

Firefly Neuroscience, Inc. anticipates continued negative cash flows from operations for the next 12 months due to product integration and sales organization expansion. Future profitability depends on the successful commercialization of its combined product portfolio, which requires substantial additional capital. Management plans to pursue additional capital through equity or debt financings, manage operating expenses, and expand commercially to drive recurring revenue.

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