New Risk • Jun 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (27% average weekly change). Earnings have declined by 48% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Revenue is less than US$5m (US$1.6m revenue). Market cap is less than US$100m (US$18.5m market cap). 공시 • Jun 24
Firefly Neuroscience, Inc. Announces Redesignation of Gil Issachar from Chief Technology Officer to Head of AI and Neuroscience, Effective June 18, 2026 Firefly Neuroscience, Inc. reported that on June 18, 2026, Deel Innovation Ltd., which provides consulting services to Firefly Neuroscience, Inc., entered into an employment agreement with Gil Issachar, formerly the Chief Technology Officer of the company, pursuant to which Issachar now serves as the Head of AI and Neuroscience of the company. The Issachar Employment Agreement superseded any prior terms and conditions of any employment agreement between the company and Issachar. In connection with Issachar's role change, the board of directors of the company determined that effective June 18, 2026, Issachar is no longer classified as a Section 16 officer or executive officer of the company. Gil Issachar's duties and responsibilities as Head of AI and Neuroscience include leading the development and execution of research strategies aligned with the company's objectives, overseeing the design and implementation of research projects, analyzing and interpreting complex data sets, collaborating with cross-functional teams, managing the research budget, developing and maintaining relationships with external research partners and institutions, ensuring compliance with ethical standards and regulatory requirements, presenting research findings to stakeholders, fostering a culture of innovation and continuous improvement within the research team, and monitoring industry trends and advancements. 공시 • Jun 03
Firefly Neuroscience Identifies Novel Electrophysiological Biomarker For PTSD Using Evoke System Firefly Neuroscience, Inc. announced the identification of a novel electrophysiological biomarker for Post-Traumatic Stress Disorder using brain scans collected on its FDA-510(k)-cleared Evoke System. The biomarker discovery emanates partly from Firefly’s previously announced public-private partnership with the U.S. Department of War to support the assessment and treatment of active-duty U.S. service members and veterans suffering from PTSD and/or Traumatic Brain Injury. The identification of a novel PTSD-specific electrophysiological biomarker deepens the scientific foundation of that Department of War deployment and positions Firefly as what it believes to be the only company with both an active government brain health partnership and an identified neural signal marker for the condition. PTSD affects approximately 13 million Americans in any given year, and about 6% of the U.S. population will have PTSD at some point in their life. The disorder is disproportionately prevalent in military personnel; with 11–20% of Operation Iraqi Freedom and Enduring Freedom veterans experiencing PTSD annually. The total U.S. economic burden of PTSD has been estimated at $232.2 billion, of which $42.7 billion is attributed directly to the military population. The biomarker discovery leverages Firefly’s deep learning architecture running on NVIDIA L40S GPU-accelerated infrastructure, enabling high-throughput analysis of multi-channel electroencephalogram (EEG) and Event-Related Potential (ERP) waveforms at unprecedented scale. The Evoke System’s dual-signal approach, capturing both resting-state hyperarousal patterns and abnormal cognitive ERP responses, is particularly well-suited to PTSD diagnostics. The identification of a PTSD-specific electrophysiological biomarker could potentially open commercial pathways across three channels: within the existing Firefly-Department of War partnership, where an objective neural marker could deepen and expand Firefly’s government engagement; in pharmaceutical clinical trials, where it could serve as an objective efficacy endpoint addressing a longstanding bottleneck in CNS drug development; and in clinical psychiatry, where the Evoke System’s objective signal data could inform more personalized treatment decisions for the millions of people living with PTSD. This discovery further advances Firefly’s mission to build the world’s first EEG/ERP-based brain foundation model, a large-scale AI architecture trained across all disorder categories to serve as a universal brain health intelligence platform for neurology, psychiatry, and drug development. Reported Earnings • May 14
First quarter 2026 earnings released: US$0.12 loss per share (vs US$1.74 loss in 1Q 2025) First quarter 2026 results: US$0.12 loss per share (improved from US$1.74 loss in 1Q 2025). Revenue: US$485.0k (up US$442.0k from 1Q 2025). Net loss: US$1.91m (loss narrowed 89% from 1Q 2025). Reported Earnings • Apr 02
Full year 2025 earnings released: US$1.22 loss per share (vs US$1.60 loss in FY 2024) Full year 2025 results: US$1.22 loss per share. Revenue: US$1.14m (up US$1.03m from FY 2024). Net loss: US$15.2m (loss widened 46% from FY 2024). 공시 • Mar 13
Firefly Neuroscience Announces Discovery of New Brain Wave Biomarkers for Differential Diagnosis of Adhd Firefly Neuroscience, Inc. announced the advancement of research using Resting EEG/Cognitive EEG (ERP) brain scans collected on its FDA-510(k)-cleared Evoke System to potentially distinguish between the three main subtypes of attention-deficit/hyperactivity disorder (ADHD): hyperactive and impulsive, inattentive, and combined. Firefly’s AI-powered EEG/ERP technology may help identify which ADHD subtype a patient has — potentially complementing subjective symptom checklists with neural signal-based precision. Subtype identification could change the clinical equation: Firefly’s platform may help clinicians determine the most appropriate treatment type, inform dosage decisions, and potentially monitor whether an intervention is working. The breakthrough advances Firefly’s mission to build the world’s first EEG/ERP brain foundation model — being trained on a growing repository of over 191,000 brain scans. Firefly’s methodology is supported by prior peer-reviewed research, including a study published in Frontiers in Psychiatry, demonstrating the diagnostic utility of EEG-based brain activity flow pattern analysis in ADHD patients. 