FIREFLY NEUROSCIENCE, INC.
Business
Firefly Neuroscience, Inc. is an artificial intelligence company that applies proprietary analytics to electroencephalographic (EEG) and event-related potential (ERP) data for brain health diagnostics. The company offers the FDA-cleared Evoke System, a hardware and cloud-based platform for capturing and analyzing brain electrical activity to support clinical decision-making. Firefly operates through a subscription-based model deployed across clinical sites in the United States and partners with pharmaceutical and academic institutions for biomarker endpoints in clinical trials.
Summary from 10-K filed 2026-03-31
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| REVENUE | 1 | 108,000 | 498,000 | 11 | 15 | |
| COST OF GOODS SOLD | 497,000 | 0 | — | — | — | |
| GROSS PROFIT | 645,000 | 108,000 | 3 | 3 | 4 | |
| Research and development expenses | 1 | 2 | 741,000 | — | — | |
| Selling and marketing expenses | 800,000 | 1 | 639,000 | — | — | |
| General and administration expenses | 7 | 6 | 2 | — | — | |
| Impairment of assets | 251,000 | 874,000 | 0 | — | — | |
| TOTAL OPERATING EXPENSES | 10 | 10 | 4 | — | — | |
| OPERATING (LOSS) | −9 | −10 | −3 | −5 | −3 | |
| Interest and bank fees | −159,000 | −69,000 | — | — | — | |
| Interest income | 89,000 | 0 | — | — | — | |
| Foreign exchange gain (loss) | −5,000 | 11,000 | 37,000 | — | — | |
| Change in derivative fair value | −9 | −156,000 | 0 | — | — | |
| Loss on settlement | −1 | 0 | — | 0 | 450,000 | |
| Other (income) expenses | −224,000 | −190,000 | 457,000 | 7,107 | 12,171 | |
| TOTAL OTHER INCOME (EXPENSE) | −11 | −404,000 | 476,000 | — | — | |
| LOSS BEFORE INCOME TAX | −20 | −10 | −3 | −5 | −2 | |
| Income tax provision (benefit) | 5,000 | −2,000 | −1,000 | 812,457 | 1 | |
| NET LOSS AND COMPREHENSIVE LOSS | −20 | −10 | −3 | −18 | −1 | |
| Deemed dividend on warrant inducement | 5 | 0 | — | — | — | |
| NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | −25 | −10 | — | — | — | |
| BASIC AND DILUTED LOSS PER SHARE (in dollars per share) | −1.97 | −1.6 | −0.81 | −10.03 | −0.09 | |
| WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING, BASIC AND DILUTED (in shares) | 12 | 7 | 3 | 2 | 13 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | 3 | 2 | 2 | — | — | |
| Accounts receivable, net | 194,000 | 121,000 | 84,000 | 2 | 2 | |
| Prepaid expenses and deposits | 978,000 | 697,000 | 28,000 | 442,445 | 276,990 | |
| Inventory | 108,000 | 0 | — | — | — | |
| Total current assets | 4 | 3 | 2 | 3 | 7 | |
| Prepaid expenses and deposits | 268,000 | 2 | 0 | — | — | |
| Equipment, net | 146,000 | 136,000 | 0 | 98,991 | 105,256 | |
| Intangible assets, net | 861,000 | 180,000 | 386,000 | 1 | 8 | |
| Goodwill | 5 | 0 | 1 | 1 | 8 | |
| Total non current assets | 6 | 2 | 386,000 | — | — | |
| TOTAL ASSETS | 10 | 5 | 3 | 8 | 23 | |
| Accounts payable | 1 | 2 | 630,000 | 573,789 | 650,499 | |
| Deferred revenue | 228,000 | 13,000 | 0 | 182,756 | 186,835 | |
| Convertible promissory note, net of unamortized discount | 0 | 694,000 | 0 | — | — | |
| Earn-out liability | 478,000 | 0 | — | — | — | |
| Derivative liability | 0 | 827,000 | 0 | — | — | |
| Total current liabilities | 3 | 5 | 3 | 4 | 2 | |
| Deferred revenue | 21,000 | 0 | — | — | — | |
| TOTAL LIABILITIES | 3 | 5 | 3 | 4 | 6 | |
| COMMITMENTS AND CONTINGENCIES (See Note 14) | — | — | — | — | — | |
| Preferred shares, $0.0001 par value: 1,000,000 shares authorized 2025 and 2024; Nil issued and outstanding at December 31, 2025 and 2024, respectively | 0 | 0 | 0 | — | — | |
| Common shares, $0.0001 par value: 5,000,000,000 shares authorized 2025 and 2024; 13,964,367 and 8,122,060 issued and outstanding at December 31, 2025 and 2024, respectively | 1,000 | 0 | 0 | 2,084 | 18,882 | |
| Additional paid-in capital | 119 | 87 | 77 | 36 | 32 | |
| Accumulated deficit | −112 | −87 | −77 | −31 | −13 | |
| TOTAL SHAREHOLDERS EQUITY (DEFICIT) | 8 | −375,000 | 109,000 | −2 | 17 | |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | 10 | 5 | 3 | 8 | 23 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 172,000 | 67,000 | 0 | 219,986 | 236,598 | |
| Interest and bank fees | 0 | 30,000 | 0 | — | — | |
| Other income (expenses) | 0 | 12,000 | 0 | — | — | |
| Share-based compensation expense | 749,000 | 3 | 295,000 | 1 | 2 | |
| Shares and warrants issued for consulting services | 32,000 | 127,000 | 0 | — | — | |
| Accretion expense on convertible promissory note | 126,000 | 0 | — | — | — | |
| Loss on shares issued for debt | 217,000 | 0 | — | — | — | |
| Drawdown in shares issued for prepaid services | 601,000 | 0 | — | — | — | |
| Change in accounts receivable | −28,000 | −37,000 | −65,000 | 35,303 | 388,840 | |
| Change in prepaid expenses and deposits | 509,000 | −73,000 | 30,000 | −15,455 | −127,882 | |
| Change in inventories | −37,000 | 0 | — | — | — | |
| Change in accounts payable | −630,000 | 883,000 | −170,348 | −76,710 | −111,797 | |
| Change in accrued liabilities | −952,000 | −341,000 | 1 | 235,259 | 149,345 | |
| Change in deferred revenue | −44,000 | 13,000 | −909,000 | −4,079 | −760,049 | |
| Net cash used in operating activities | −8 | −6 | −2 | −6 | −735,015 | |
| Payments to acquire equipment | −128,000 | −148,000 | 0 | — | — | |
| Product enhancements intangible asset | 0 | −267,000 | −386,000 | — | — | |
| Net cash used in investing activities | −2 | −477,000 | −386,000 | −535,902 | −10 | |
| Proceeds from issuance of convertible promissory note, net of transaction costs | 3 | 2 | 0 | — | — | |
| Proceeds from exercise of warrants | 9 | 36,000 | 0 | — | — | |
| Proceeds from sale of shares, net of issuance costs | 0 | 4 | 5 | — | — | |
| Net cash provided by financing activities | 12 | 6 | 5 | 2 | 13 | |
| INCREASE (DECREASE) IN CASH | 937,000 | −333,000 | 2 | −4 | 3 | |
| Cash paid for interest | 0 | 11,000 | 0 | 1,250 | −35,202 | |
| Cash paid for income taxes | 0 | 0 | 0 | — | — | |
| Deemed issuance of shares to former shareholders of WaveDancer | 0 | 204,000 | 0 | — | — | |
| Product enhancements - intangible asset in accounts payable and accrued liabilities | 0 | 206,000 | — | — | — | |
| PPE transferred from inventory | 25,000 | 0 | — | — | — | |
| Deemed dividend on warrant inducement | 5 | 0 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is FIREFLY NEUROSCIENCE, INC.'s CIK number?
FIREFLY NEUROSCIENCE, INC.'s SEC CIK number is 0000803578 (803578). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find FIREFLY NEUROSCIENCE, INC.'s SEC filings?
All of FIREFLY NEUROSCIENCE, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did FIREFLY NEUROSCIENCE, INC. last report earnings?
FIREFLY NEUROSCIENCE, INC. (AIFF) most recently filed an earnings 8-K with the SEC on Dec 4, 2024, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001437749-24-036651). This is FIREFLY NEUROSCIENCE, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is FIREFLY NEUROSCIENCE, INC.'s most recent earnings 8-K?
FIREFLY NEUROSCIENCE, INC.'s latest earnings 8-K (Item 2.02) was filed Dec 4, 2024 under accession 0001437749-24-036651. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View FIREFLY NEUROSCIENCE, INC.'s latest earnings 8-K →
Look up any company's CIK number →