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Glucotrack, Inc.
GCTKCIK 0001506983NasdaqNon-AcceleratedSmaller ReportingSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-19.39M
Total Assets
$7.84M
Equity
$2.83M
Shares Out
1.94M
Op. Cash Flow
$-15.24M
Business
Glucotrack, Inc. is a medical device company developing an implantable continuous blood glucose monitor (Glucotrack CBGM) for persons with Type 1 diabetes and insulin-dependent Type 2 diabetes. It offers an intravascular implantable sensor connected to a lead, planned electronics (externalized prototypes and a fully implantable version), and supporting mobile app and cloud software for continuous, zero-lag blood glucose measurement. Key business activities include research and development, clinical programs, regulatory and quality systems, and outsourced manufacturing partnerships. The company conducts preclinical and clinical studies and regulatory interactions across Europe, the Middle East, Brazil, Australia and the United States and relies on contract manufacturers and distribution channels.
Summary from filing dated 2025-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| 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 |
|---|---|---|---|---|---|---|
| Research and development expenses | 10 | 9 | 5 | 2 | 2 | |
| General and administrative expenses | 6 | 5 | 2 | 2 | 2 | |
| Total operating expenses | 16 | 15 | 7 | 4 | 4 | |
| Loss from operations | 16 | 15 | 7 | 4 | 4 | |
| Other (income) expense | −26,000 | −14,000 | — | 14,000 | 53,000 | |
| Change in fair value of derivative liability | 3 | 798,000 | — | — | — | |
| Loss on equity issuance | — | 2 | — | — | — | |
| Loss on settlement of liabilities | — | 5 | — | — | — | |
| Finance expense, net | 57,000 | 583,000 | −7,000 | — | — | |
| Total other income | 3 | 8 | — | — | — | |
| Net loss | 19 | 23 | 7 | 4 | 4 | |
| Foreign currency translation adjustment | −49,000 | −24,000 | 1,000 | −23,000 | 21,000 | |
| Comprehensive loss | 19 | 23 | 7 | 4 | 4 | |
| Basic loss per share | 31.22 | 4,106 | 34.18 | 0.29 | 0.26 | |
| Diluted loss per share | 31.22 | 4,106 | 34.18 | 0.29 | 0.26 | |
| Weighted average number of common stock outstanding used in computing basic net loss per share | 621,094 | 5,503 | 207,603 | 15 | 15 | |
| Weighted average number of common stock outstanding used in computing diluted net loss per share | 621,094 | 5,503 | 207,603 | 15 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-10-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 7 | 6 | — | 4 | 2 | |
| Other current assets | 284,000 | 151,000 | — | 376,000 | 67,000 | |
| Total current assets | 8 | 6 | — | 5 | 2 | |
| Operating lease right-of-use asset, net | 33,000 | 59,000 | — | — | — | |
| Property and equipment, net | 138,000 | 95,000 | — | 27,000 | 40,000 | |
| Restricted cash | — | 10,000 | — | 10,000 | 19,000 | |
| TOTAL ASSETS | 8 | 6 | — | 5 | 2 | |
| Accounts payable | 1 | 992,000 | — | 839,000 | 672,000 | |
| Operating lease liability, current | 28,000 | 26,000 | — | — | — | |
| Promissory notes | 3 | — | — | — | — | |
| Convertible promissory notes | — | 5,000 | — | — | — | |
| Other current liabilities | 246,000 | 252,000 | — | 673,000 | 341,000 | |
| Total current liabilities | 5 | 1 | — | 2 | 1 | |
| Derivative financial liabilities | 1,000 | 17 | 17 | — | — | |
| Operating lease liability, non-current | 5,000 | 33,000 | — | — | — | |
| Loans from stockholders | 231,000 | 203,000 | — | 196,000 | 195,000 | |
| Total liabilities | 5 | 19 | — | 2 | 1 | |
| Commitments and contingent liabilities (Note 5) | — | — | — | — | — | |
| Common Stock of $0.001 par value (Common Stock): 100,000,000 shares authorized as of December 31, 2025 and 2024; 910,688 and 13,409 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 1,000 | 1,000 | — | — | 15,000 | |
| Additional paid-in capital | 151 | 119 | — | 113 | 103 | |
| Receipts on account of shares | 4 | 228,000 | — | 48,000 | 4,000 | |
| Accumulated other comprehensive income | 41,000 | −8,000 | — | 16,000 | 17,000 | |
| Accumulated deficit | −152 | −132 | — | −110 | −102 | |
| Total stockholders (deficit) equity | 3 | −13 | — | 3 | 1 | |
| TOTAL LIABILITIES AND STOCKHOLDERS (DEFICIT) EQUITY | 8 | 6 | — | 5 | 2 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| 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 | 42,000 | 36,000 | 13,000 | 23,000 | 42,000 | |
| Loss on fixed asset disposal | 16,000 | — | — | — | — | |
| Equity issuance costs | — | 1 | — | — | — | |
| Stock-based compensation | 211,000 | 173,000 | 281,000 | 439,000 | 223,000 | |
| Issuance of restricted shares as compensation to directors | 122,000 | 306,000 | 54,000 | 48,000 | 38,000 | |
| Amortization of original issue discount related to promissory note | 182,000 | — | — | — | — | |
| Shares issued to CEO for achieving of IP Agreement milestones | — | 192,000 | — | — | — | |
| Loss on Series A warrant repurchase | 99,000 | — | — | — | — | |
| Discount amortization and interest expenses related to promissory notes | — | 628,000 | — | — | — | |
| Linkage difference on principal of loans from stockholders | — | 7,000 | 1,000 | 11,000 | 6,000 | |
| Decrease (increase) in other current assets | −133,000 | 225,000 | −309,000 | −28,000 | 15,000 | |
| Increase in accounts payable | 325,000 | 263,000 | 167,000 | — | — | |
| Increase (decrease) in other current liabilities | 17,000 | −421,000 | 332,000 | 138,000 | −172,000 | |
| Net cash used in operating activities | −15 | −12 | −7 | −4 | −4 | |
| Purchase of property and equipment | −96,000 | −104,000 | — | −1,000 | −5,000 | |
| Net cash used in investment activities | −96,000 | −104,000 | — | 1,000 | −1,000 | |
| Net proceeds received from underwritten U.S. public offering | 11 | 9 | — | — | — | |
| Proceeds from promissory note, net of original issue discount of $600 | 3 | — | — | — | — | |
| Series A warrant repurchase | −166,000 | — | — | — | — | |
| Net proceeds from December 2025 private placement transaction | 4 | — | — | — | — | |
| Issuance of promissory notes and detachable warrants through private placement Transaction | — | 100,000 | — | — | — | |
| Issuance of convertible promissory notes - related parties | — | 4 | — | — | — | |
| Issuance of convertible promissory notes and bifurcated conversion feature through private placement transaction | — | 360,000 | — | — | — | |
| Net proceeds received from underwritten U.S. public offering | — | 500,000 | 9 | — | — | |
| Net cash provided by financing activities | 17 | 14 | 9 | — | — | |
| Effect of exchange rate changes on cash and cash equivalents | 49,000 | −24,000 | −1,000 | −54,000 | −2,000 | |
| Change in cash, cash equivalents, and restricted cash | 2 | 1 | 2 | −4 | −4 | |
| Interest | −52,000 | −62,000 | — | — | — | |
| Fair value of equity classified warrants issued in connection with December 2025 private placement | 8 | — | — | — | — | |
| Recognition of right for use asset against a lease liability | — | 79,000 | — | — | — | |
| Settlement of liabilities with equity | — | 2 | — | — | — | |
| Derivative liability | — | 35,000 | — | — | — | |
| Conversion of debt into equity | — | 2 | — | — | — |
Filings
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