CapsoVision Inc 2025年季度报告

FORM10-Q_________________________ (Mark One) xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedJune30, 2025 OR oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ____________ and ____________ Commission file number001-42705_________________________ CAPSOVISION, INC. (Exact name of registrant as specified in its charter)_________________________ Delaware20-3369494 (State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)18805 Cox Avenue, Suite 25095070Saratoga,CA(Address of Principal Executive Offices)(Zip Code) (408)624 1488Registrant’s telephone number, including area code Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2) has been subject to such filing requirements for the past 90 days.Yeso Nox Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files).Yesx Noo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “acceleratedfiler,” “smaller reporting company,”and "emerging growth company" in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yeso Nox As of August 11, 2025, the registrant had46,774,067shares of common stock, $0.001 par value per share, outstanding. TABLE OF CONTENTS Part I - Financial Information Item 1. Financial Statements(unaudited)1Condensed Balance Sheets as of June 30, 2025 and December 31, 20241Condensed Statements of Operations and Comprehensive Loss for the six months ended June30, 2025 and 20243Condensed Statements of Convertible Preferred Stock and Stockholders’ Deficit for the sixmonths ended June 30, 2025 and 20244Condensed Statements of Cash Flows for the six months ended June 30, 2025 and 20245Notes to Condensed Financial Statements6Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations28Item 3. Quantitative and Qualitative Disclosures About Market Risk39Item 4. Controls and Procedures40 Part II - Other Information Item 1. Legal Proceedings42Item 1A. Risk Factors42Item 2. Unregistered Sales of Equity Securities and Use of Proceeds87Item 3. Defaults Upon Senior Securities87Item 4. Mine Safety Disclosures88Item 5. Other Information88Item 6. Exhibits89 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this Quarterly Report on Form 10-Q constitute forward-looking statements within the meaning of thePrivate Securities Litigation Reform Act of 1995. We base these forward-looking statements on our expectations andprojections about future events, which we derive from the information currently available to us. Such forward-lookingstatements relate to future events or our future performance, including: our financial performance and projections; ourgrowthin revenue and earnings;and our business prospects and opportunities. You can identify forward-lookingstatements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,”“expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” orthe negative of these or similar terms. In evaluating these forward-looking statements, you should consider variousfactors, including: our ability to change the direction of the Company; our ability to keep pace with new technology andchanging market needs; and the competitive environment of our business. These and other factors may cause our actualresults to differ materially from any forward-looking statement. Forward-looking statements are only predictions. Theforward-looking events discussed in this Quarterly Report on Form 10-Q may not occur, and actual events and results maydiffer materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly updateor revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-