Odysight.ai Inc.ODYS

Odysight.ai Inc. (privately held, no ticker) last month filed a Form FWP that reads like a greatest-hits album of AI marketing: “Camera-as-a-Sensor™,” “predictive maintenance revolution,” and “multi-sensor monitoring across aviation and industrial systems.” What the filing doesn’t contain is a single contract whose revenue shows up in the books: for the quarter to 31 March 2026, Odysight collected $82,000 in revenue against a $5.2 million net loss and a 32-cent diluted loss per share. The cash balance stood at $21.8 million, giving the company roughly four more quarters of runway if the order pipeline stays frozen. (source: Odysight.ai® Reports Financial Results for The Three Months Ended March 31, 2026 and Provides Business Update - OdySight, https://www.odysight.ai/press/odysight-ai-reports-financial-results-for-the-three-months-ended-march-31-2026-and-provides-business-update/)

Odysight’s product story is real: rugged visual sensors (OVIS cameras) designed for aviation, transport, and industrial predictive maintenance, supported by a CRADA with the U.S. Navy signed in May 2026 and a press release touting first U.S. flight testing of its AI predictive maintenance system on a UH-60 helicopter. The technology exists; the revenue recognition lags. Company materials describe real-time multi-sensor monitoring and fault prediction across platforms, yet the 10-Q for 31 March 2026 shows no customer concentration, no named contracts, and only $82,000 in revenue. The platform architecture page and product image library confirm the hardware and software pedigree, but the filings confirm the commercial traction is still in the mail. (source: Our Solutions - OdySight, https://www.odysight.ai/our-technology/; Predictive Maintenance Technologies - Odysight in the Press, https://www.odysight.ai/press-releases/; Odysight.ai® Reports Financial Results for The Three Months Ended March 31, 2026 and Provides Business Update - OdySight, https://www.odysight.ai/press/odysight-ai-reports-financial-results-for-the-three-months-ended-march-31-2026-and-provides-business-update/)

The numbers are unambiguous and filed. Revenue for the quarter was $82,000; operating loss was $5.3 million; net loss attributable to parent was $5.2 million; diluted EPS was -$0.32 on 16.4 million shares; operating cash burn was $4.3 million; cash and equivalents at quarter-end were $21.8 million; assets totalled $24.6 million and liabilities $3.5 million, leaving $21.2 million in shareholders’ equity. The company spent $2.6 million on R&D and $6,000 on capex, while inventory rose by $263,000 to $313,000. The board’s decision to file a shelf registration (Form 424B5) in June 2026 is standard for cash-dependent tech names but jars against the revenue figure. (source: Odysight.ai® Reports Financial Results for The Three Months Ended March 31, 2026 and Provides Business Update - OdySight, https://www.odysight.ai/press/odysight-ai-reports-financial-results-for-the-three-months-ended-march-31-2026-and-provides-business-update/; ODYS 424B5 (2026-06-05), https://www.sec.gov/Archives/edgar/data/1577445/000149315226027520/form424b5.htm)

The company points to a CRADA with the U.S. Navy and first U.S. flight testing on a UH-60 helicopter as proof of traction, yet neither development appears in the revenue line for the quarter. Management flags that Q1 2026 revenues were “impacted by the timing of purchase orders execution,” a phrase that translates to “orders are late, not lost.” Until those purchase orders convert to cash, the stock of evidence remains a prospectus and a press release rather than a financial statement. Filings are clear; execution remains the missing chapter. (source: Odysight.ai® Reports Financial Results for The Three Months Ended March 31, 2026 and Provides Business Update - OdySight, https://www.odysight.ai/press/odysight-ai-reports-financial-results-for-the-three-months-ended-march-31-2026-and-provides-business-update/)

For context on the company’s governance and disclosures beyond the headline financials, the SEC submissions index and company facts JSON provide a full catalogue of EDGAR filings, including Forms SD, FWP, 8-K, and the ownership XML, all of which confirm the filing trail but do not alter the revenue reality for the quarter. (source: ODYS SEC EDGAR filing index, https://www.sec.gov/edgar/browse/?CIK=1577445; ODYS SEC submissions JSON, https://data.sec.gov/submissions/CIK0001577445.json; ODYS SEC companyfacts JSON, https://data.sec.gov/api/xbrl/companyfacts/CIK0001577445.json)