S
SkyAI, Inc.
STSSWCIK 0001737995NasdaqEmerging GrowthSurgical & Medical Instruments & ApparatusNevadaFY ends Dec 31
Period
FY 2025
Revenue
$204.1K
Net Income
$-282.50M
Total Assets
$269.08M
Equity
$264.38M
Shares Out
38.66M
Op. Cash Flow
$-10.99M
Business
Sharps Technology Inc. is a medical device and pharmaceutical packaging company that develops and manufactures smart‑safety and prefillable syringe products. Its main products include the Securegard and Sologard ultra‑low waste safety syringe lines featuring passive and active safety and reuse‑prevention mechanisms, and polymer‑based prefillable syringes in multiple volumetric sizes. Key business segments comprise safety disposable syringes and next‑generation prefillable syringe systems, supported by in‑house manufacturing and an intellectual property portfolio. The company markets and distributes through manufacturing agreements and regional distributors across Europe and pursues qualification and commercialization in the U.S. and other international healthcare markets.
Summary from filing dated 2025-03-27
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 |
|---|---|---|---|---|---|---|
| Net Revenue | 204,120 | — | — | — | — | |
| Cost of goods sold | 198,576 | — | — | — | — | |
| Cost of goods sold - inventory reserve | 418,869 | — | — | — | — | |
| Total Cost of Goods Sold | 617,445 | — | — | — | — | |
| Gross Margin (Loss) | −413,325 | — | — | — | — | |
| Staking Revenue, net | 7 | — | — | — | — | |
| Warrant issuance related party | 101 | — | — | — | — | |
| Consulting fees related parties | 3 | — | — | — | — | |
| Selling, general and administrative | 16 | 5 | — | — | — | |
| Research and development | 198,762 | 531,233 | 2 | 2 | 2 | |
| Unrealized loss on digital assets | 153 | — | — | — | — | |
| Realized loss on digital assets | 1 | — | — | — | — | |
| Digital asset transaction expenses | 872,934 | — | — | — | — | |
| Total Operating Expenses | 276 | 6 | 10 | −9 | −4 | |
| Loss from Operations | −270 | −6 | −10 | −9 | −4 | |
| Interest expense, net | −416,660 | −2 | — | — | — | |
| Fair market value adjustment on warrants | 5 | 3 | — | — | — | |
| Realized loss on derivatives | −5 | — | — | — | — | |
| Other expense | — | −1 | — | — | — | |
| Total Other Income (Expense) | −600,062 | 342,333 | — | — | — | |
| Net Loss Before Provision for Taxes | −270 | −5 | −10 | −5 | — | |
| Tax Provision | — | — | — | — | — | |
| Net Loss from Continuing Operations | −270 | −5 | — | — | — | |
| Loss from discontinued operations | −11 | −4 | — | — | — | |
| Loss on disposal | −1 | — | — | — | — | |
| Income tax benefit | 132,000 | 30,000 | — | — | — | |
| Loss from Discontinued Operations | −12 | −4 | — | — | — | |
| Net Loss | −283 | −9 | −10 | −5 | −5 | |
| Net loss per share from Continuing Operations, basic | −10.68 | −1,248 | — | — | — | |
| Net loss per share from Continuing Operations, diluted | −10.68 | −1,248 | — | — | — | |
| Net loss per share from Discontinued Operations, basic | −0.48 | −972.13 | — | — | — | |
| Net loss per share from Discontinued Operations, diluted | −0.48 | −972.13 | — | — | — | |
| Net loss per share, basic | −11.16 | −2,220 | −16.61 | −0.57 | −0.96 | |
| Net loss per share, diluted | −11.16 | −2,220 | −16.61 | −0.57 | — | |
| Weighted average shares used to compute net loss per share, basic | 25 | 4,188 | 592,396 | 8 | 5 | |
| Weighted average shares used to compute net loss per share, diluted | 25 | 4,188 | 592,396 | 8 | — |
Consolidated Balance Sheet
As of · 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 2022 2022-03-31 |
|---|---|---|---|---|---|---|
| Cash | 10 | 800,000 | 3 | 4 | — | |
| Escrow deposit | — | 250,000 | — | — | — | |
| Prepaid expenses related party | 7 | — | — | — | — | |
| Prepaid expenses and other assets | 475,869 | 84,377 | 68,559 | 66,749 | — | |
| Inventories, net | 645,268 | 538,830 | 2 | 185,804 | — | |
| Current Assets, Discontinued Operations | — | 2 | — | — | — | |
| Current Assets | 19 | 3 | 5 | 4 | — | |
| Fixed assets, net | 81,167 | 1 | 7 | 7 | — | |
| Digital assets, at fair value | 250 | — | — | — | — | |
| Other assets | 370 | 72,195 | 128,575 | 411,316 | — | |
| Non-Current Assets, Discontinued Operations | — | 3 | — | — | — | |
| Total Assets | 269 | 7 | 12 | 12 | — | |
| Accounts payable | 590,692 | 693,156 | 794,107 | 543,226 | — | |
| Accrued expenses and other | 921,954 | 346,536 | 476,090 | — | — | |
| Margin loan | 3 | — | — | — | — | |
| Notes payable, net of discount | — | 4 | — | — | — | |
| Warrant liability | 97,450 | 98,913 | — | — | — | |
| Current liabilities, Discontinued Operations | — | 283,392 | — | — | — | |
| Total Current Liabilities | 5 | 5 | 4 | 2 | — | |
| Non-Current Liabilities, Discontinued Operations | — | 132,000 | — | — | — | |
| Total Liabilities | 5 | 5 | 4 | 2 | — | |
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 0 shares issued and outstanding (2024: 0) | — | — | — | — | — | |
| Common stock, $0.0001 par value; 500,000,000 shares authorized (2024: 1,666,667); 28,995,402 shares issued and outstanding (2024: 6,827) | 2,899 | — | 69 | 941 | — | |
| Additional paid-in capital | 581 | 36 | 32 | 25 | 9 | |
| Accumulated other comprehensive income | — | 23,293 | 591,812 | 214,253 | — | |
| Accumulated deficit | −317 | −34 | −25 | −15 | — | |
| Total Stockholders Equity | 264 | 2 | 8 | 10 | — | |
| Total Liabilities and Stockholders Equity | 269 | 7 | 12 | 12 | — |
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 and amortization | 132,540 | 37,524 | 882,177 | 654,572 | 28,699 | |
| Accretion of debt discount | 708,390 | 2 | — | 1 | 159,615 | |
| FMV adjustment for warrants | −5 | −3 | −169,583 | — | — | |
| Digital assets received as staking revenues, net | −7 | — | — | — | — | |
| Unrealized loss on digital assets | 153 | — | — | — | — | |
| Realized loss on derivatives | 5 | — | — | — | — | |
| Escrow forfeited | 250,000 | 1 | — | — | — | |
| Foreign exchange impact | 378,410 | 516,905 | — | — | — | |
| Accounts receivable - trade | −204,120 | — | — | — | — | |
| Prepaid expenses - related party | 3 | — | — | — | — | |
| Prepaid expenses and other | −322,781 | −12,686 | −82,169 | −58,754 | 42,005 | |
| Inventory | −298,235 | — | −1 | −34,109 | −121,994 | |
| Other assets | 39,958 | −25,170 | −12,735 | −12,000 | −10,262 | |
| Accounts payable and accrued liabilities | 238,446 | 98,394 | 415,512 | −104,352 | 202,894 | |
| Net cash used in operating activities | −11 | −4 | −9 | −6 | −3 | |
| Purchase of digital assets | −171 | — | — | — | — | |
| Purchase of USDC | −17 | — | — | — | — | |
| Escrow payment forfeited | — | −1 | — | — | — | |
| Net cash used in investing activities | −188 | −1 | −698,277 | −3 | −2 | |
| Net proceeds from offerings and warrant exercises | 212 | 3 | 8 | — | — | |
| Proceeds from debt financing | — | 3 | — | — | — | |
| Repayment of debt financing | −4 | — | — | — | — | |
| Proceeds from margin loan | 8 | — | — | — | — | |
| Net cash provided by financing activities | 216 | 6 | 8 | 12 | 5 | |
| NET INCREASE IN CASH CONTINUING OPERATIONS | 17 | 506,015 | — | — | — | |
| Beginning cash - discontinued operations | 109,239 | 22,976 | — | — | — | |
| Operating Activities | −6 | −3 | — | — | — | |
| Investing Activities | −2 | −129,778 | — | — | — | |
| Financing Activities | — | — | — | — | — | |
| Ending cash - discontinued operations | — | −109,239 | — | — | — | |
| NET DECREASE IN CASH - DISCONTINUED OPERATIONS | −7 | −3 | — | — | — | |
| Cash paid for taxes | — | — | — | — | — | |
| Digital assets received from common stock issuance | 144 | — | — | — | — | |
| USDC/USDT received from common stock issuance | 86 | — | — | — | — | |
| USDC/USDT used for purchases of digital assets | −84 | — | — | — | — | |
| USDC transferred to related party | −10 | — | — | — | — | |
| USDC repayment of margin loan | −5 | — | — | — | — | |
| USDC payments for realized derivatives losses | −5 | — | — | — | — | |
| OID interest | 875,000 | — | — | — | — |
Filings
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