ENvue Medical, Inc.

Listed Company

FEEDCIK 0001326706NasdaqNon-AcceleratedSmaller ReportingOrthopedic, Prosthetic & Surgical Appliances & SuppliesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.55M

Net Income

$-18.18M

Total Assets

$41.12M

Equity

$33.50M

Shares Out

3.70M

Op. Cash Flow

$-9.37M

Business

ENvue Medical, Inc. is a medical device company operating through two subsidiaries that develop and commercialize enteral feeding navigation systems and non‑invasive ultrasound/micro‑vibration therapeutic devices. Its main products include the ENvue System and dedicated enteral feeding tubes (including NGAT) and NanoVibronix’s UroShield, PainShield (MD and Plus) and WoundShield surface acoustic wave devices. The company’s operations are organized into two divisions: Nano OpCo, focused on SAW/ultrasound products, and ENvue, focused on enteral feeding/navigation solutions. It markets and distributes products through hospitals and direct sales in the U.S., regulatory‑cleared sales in the EU and Israel, and a network of international distributors, direct‑to‑consumer channels, and institutional channels such as NHS Supply Chain and the U.S. Veterans Health Administration.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	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
Revenues	3	3	2	752,000	2
Cost of revenues	2	1	746,000	585,000	925,000
Gross profit	153,000	2	2	167,000	770,000
Research and development	2	909,000	185,000	283,000	293,000
Selling and marketing	2	720,000	864,000	965,000	1
General and administrative	8	3	4	4	5
Impairment of goodwill and long-lived assets	11	—	—	—	—
Total operating expenses	23	5	5	5	6
Loss from operations	−23	−4	−3	−5	−6
Financial income (expense), net	4	−104,000	−111,000	—	—
Loss before taxes on income	−18	−4	−4	−5	−14
Income tax (expense) benefit	307,000	−19,000	−29,000	−35,000	−32,000
Net loss	−18	−4	−4	−5	−14
Dividend on Series X Preferred Stock	−2	—	—	—	—
Dividend on Series H Preferred Stock	−396,000	—	—	—	—
Deemed dividend for down round feature on Series H Preferred Stock	−399,000	—	—	—	—
Deemed contribution on repurchase of Preferred Series X	90,000	—	—	—	—
Deemed contribution on modification of Preferred Series X	4	—	—	—	—
Net loss available to common stockholders	−17	−4	−4	−5	−14
Basic net loss available for holders of common stock	−26.69	−137.3	−23.32	−3.84	−11.35
Diluted net loss available for holders of common stock	−26.69	−137.3	−23.32	−3.84	—
Weighted average common stock outstanding, basic	628,534	26,985	159,105	1	1
Weighted average common stock outstanding, diluted	628,534	26,985	159,105	1	—
Change in foreign currency translation adjustments	—	−13,000	−49,000	—	—
Total Comprehensive loss	−18	−4	−4	−6	−14

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	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	4	752,000	—	—	8
Restricted cash	30,000	—	—	—	—
Trade receivables	289,000	98,000	318,000	9,000	200,000
Prepaid expenses and other accounts receivable	391,000	290,000	—	—	—
Inventory	2	2	3	2	175,000
Total current assets	7	3	6	6	8
Property and equipment, net	119,000	9,000	7,000	7,000	5,000
Severance pay fund	125,000	173,000	174,000	179,000	207,000
Operating lease right-of-use assets	127,000	116,000	5,000	81,000	49,000
Long-term trade receivables	20,000	—	—	—	—
Intangible Assets, net	4	—	—	—	—
Goodwill	29	—	—	—	—
Total non-current assets	34	298,000	187,000	270,000	280,000
Total assets	41	4	7	6	9
Trade payables	719,000	47,000	138,000	66,000	87,000
Arbitration liability	2	2	—	—	—
Other accounts payable and accrued expenses	2	491,000	2	2	2
Loans	1	—	—	—	—
Deferred revenue	175,000	15,000	—	—	—
Operating lease liabilities - current	89,000	52,000	5,000	81,000	49,000
Total current liabilities	7	3	2	2	2
Warrant liability	807,000	—	—	—	—
Accrued severance pay	132,000	216,000	217,000	223,000	253,000
Operating lease liabilities, non-current	28,000	64,000	—	—	—
Total liabilities	8	3	3	3	2
Commitments and contingencies	—	—	—	—	—
Common stock of $0.001 par value - Authorized: 40,000,000 shares at December 31, 2025 and December 31, 2024, respectively; Issued and outstanding: 1,100,413 and 37,894 shares at December 31, 2025 and December 31, 2024, respectively	1,000	1,000	2,000	2,000	1,000
Additional paid in capital	124	71	70	66	63
Accumulated other comprehensive income	−80,000	−80,000	−67,000	−18,000	60,000
Accumulated deficit	−90	−70	−66	−62	−57
Total stockholders equity	33	627,000	4	3	6
Total liabilities and stockholders equity	41	4	7	6	9

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	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	897,000	1,000	1,000	1,000	2,000
Stock-based compensation	—	356,000	293,000	354,000	382,000
Noncash interest expense	239,000	100,000	135,000	347,000	—
Other	19,000	1,000	—	—	—
Changes in deferred income taxes, net	−373,000	—	—	—	—
Change in fair value of warrant liability	−6	—	—	—	—
Issuance cost allocated to warrant liability	1	—	—	—	—
Trade receivable	−179,000	221,000	−309,000	191,000	−175,000
Prepaid expenses and other accounts receivable	−96,000	−136,000	—	—	—
Inventory	249,000	541,000	−557,000	−2	−30,000
Trade payables	552,000	−91,000	72,000	−21,000	−59,000
Other accounts payable and accrued expenses	1	242,000	−18,000	78,000	−265,000
Deferred revenue	160,000	−46,000	−67,000	−69,000	−2,000
Operating right of use asset	71,000	34,000	—	—	—
Operating lease liabilities	−85,000	−34,000	—	—	—
Accrued severance pay, net	−36,000	—	−1,000	−2,000	—
Net cash used in operating activities	−9	−3	−4	−7	−4
Cash acquired in Envue Merger	148,000	—	—	—	—
Purchase of property plant and equipment	−60,000	−3,000	−1,000	−3,000	−3,000
Net cash provided by (used in) investing activities	88,000	−3,000	−1,000	−3,000	−3,000
Proceeds from the issuance of common stock, preferred stock and warrants, net	19	—	—	—	—
Repurchase of Series X Preferred Stock	−5	—	—	—	—
Proceeds from issuance of notes payable to related party	1	—	—	—	—
Payments of note payable to related party	−1	—	—	—	—
Payments of short-term loan to related party	−2	—	—	—	—
Proceeds from issuance of short-term loan payable	360,000	—	—	—	—
Proceeds from exercise of warrants	102,000	1,000	7,000	2,000	—
Other	12,000	—	—	—	—
Net cash provided by financing activities	13	1,000	4	2	5
Effects of currency translation on cash and cash equivalents	—	−13,000	−49,000	−78,000	−6,000
Net increase in cash, cash equivalents and restricted cash	4	−3	570,000	−5	204,000
Cash paid for interest	25,000	—	—	—	—
Cash paid for taxes	52,000	—	—	—	—
Right of use asset obtained in the exchange for operating lease liabilities	24,000	145,000	—	—	—

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