Light AI reports Financial Results for Three and Nine Months ended September 30, 2025

Executive Summary

• Light AI Inc. released its Q3 2025 and nine‑month financial and operating results, showing total operating expenses of $2.2 M for the quarter and $10.4 M for the nine‑month period.
• Cash balances fell to $7.6 M (down from $15.2 M at year‑end 2024) after the company completed the second tranche of its offering, raising $1.52 M in gross proceeds.
• The company remains in development stage with product commercialization expected in early 2026 and reports adjusted working capital of $6.8 M as of September 30 2025.

Key Details

• Operating Expenses (Q3 2025): $2.2 M (ex‑interest, depreciation, non‑cash share compensation) vs. $4.0 M in Q2 2025 and $1.9 M in Q3 2024.
• Research & Development: $1.2 M incurred in Q3 2025 (down from $1.4 M in Q2 2025, up from $0.7 M in Q3 2024).
• Marketing & Investor Relations Expenses: $0.7 M in Q3 2025 (down from $2.2 M in Q2 2025, flat vs. Q3 2024).
• Non‑Cash Share‑Based Compensation: $3.4 M in Q3 2025 (vs. $0.1 M in Q2 2025 and Q3 2024), reflecting stock options and DSUs approved at the September 4, 2025 AGM.
• Nine‑Month Operating Expenses: $10.4 M for the nine months ended Sept 30 2025, up from $5.2 M in the prior year period.
• Cash Position: $7.6 M as of Sept 30 2025 (down from $15.2 M at Dec 31 2024).
• Total Assets: $8.5 M as of Sept 30 2025 (down from $17.1 M at Dec 31 2024).
• Offering Closure (Jan 8 2025): Second tranche issued 2,757,000 units @ $0.55 per unit; gross proceeds $1,516,350.
• Adjusted Working Capital: $6.823 M as of Sept 30 2025 vs. $14.645 M at Dec 31 2024.
• Forward‑Looking Statements: Management indicated product commercialization to begin early 2026 and highlighted ongoing regulatory pursuits.

Notable Quotes

“Light AI continues to make progress with the completion of the Company's commercially oriented version of its medical condition diagnostic software application,” said Peter Whitehead, CEO.
“We believe that the Company will be positioned to capitalize on our sizable market opportunity leveraging Light AI's first‑mover advantage with our patented intellectual property and technology.”