Light AI reports Financial Results for Three and Six Months ended June 30, 2025

Executive Summary

• Light AI Inc. reported financial and operating results for the three and six months ended June 30, 2025, highlighting increased operating expenses driven by product development and marketing activities.
• The company reported a cash position of $9.4 million and total assets of $10.8 million as of June 30, 2025, with an Adjusted Working Capital of $8.9 million.
• Commercialization of the AI-oriented wellness software application is anticipated to commence in late 2025, with the consumer-facing Wellness App initial offering expected in North America in Q3 2025.

Key Details

• Operating Expenses (Q2 2025): Total operating expenses (exclusive of interest, depreciation, and share-based payments) were $4.0 million, compared to $4.2 million in Q1 2025 and $2.0 million in Q2 2024.
• R&D Expenses: Research and development expenses were $1.4 million in Q2 2025, up from $1.2 million in Q1 2025 and $1.1 million in Q2 2024.
• Marketing & Investor Relations: Expenses for marketing and investor relations were approximately $2.1 million in Q2 2025, compared to $2.4 million in Q1 2025 and $0.3 million in Q2 2024.
• Six-Month Operating Expenses: Total operating expenses for the six months ended June 30, 2025, were $8.3 million, an increase from $3.8 million in the prior year period.
• Cash and Assets: Cash on hand was $9.4 million with total assets of $10.8 million as of June 30, 2025. This compares to $15.2 million in cash and $17.1 million in total assets as of December 31, 2024.
• Adjusted Working Capital: Reported at $8.9 million as of June 30, 2025, down from $14.6 million as of December 31, 2024.
• Recent Financing: On January 8, 2025, the company closed the second tranche of an offering, issuing 2,757,000 units at $0.55 per unit for aggregate gross proceeds of $1,516,350.
• Product Development: The company is in the development stage of its software technology, with commercialization anticipated to begin in late 2025. The AI algorithm demonstrated 96.57% accuracy and a 100% Negative Predictive Value in pre-FDA validation studies for Group A Streptococcus (GAS) pharyngitis.

Notable Quotes

• "Light AI continues to make progress towards commercializing its AI oriented wellness software application anticipated to be commercially available after Q3 2025," stated Peter Whitehead, CEO. "We are well positioned to capitalize on our sizable market opportunity leveraging Light AI's first mover advantage with our patented intellectual property and technology."