Firefly Neuroscience Inc 2026年季度报告

(888) 237-6412(Registrant’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 the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) hasbeen subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was requiredto submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “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 transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☒No As of May 8, 2026, there were a total of 15,571,780 shares of the registrant’scommonstock outstanding. FIREFLY NEUROSCIENCE, INC.Quarterly Report on Form 10-QPeriod EndedMarch 31, 2026 TABLE OF CONTENTS PART I. FINANCIAL INFORMATION Item 1.Financial Statements1Condensed Consolidated Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 20251Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months EndedMarch 31, 2026 and 2025(Unaudited)2Condensed Consolidated Statements of Equity (Deficit) for the Three Months Ended March 31, 2026 and2025(Unaudited)3Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and2025(Unaudited)4Notes to Condensed Consolidated Financial Statements (Unaudited)5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations18Item 3.Quantitative and Qualitative Disclosures About Market Risk29Item 4.Controls and Procedures29PART II. OTHER INFORMATIONItem 1.Legal Proceedings31Item 1A.Risk Factors31Item 2.Unregistered Sales of Equity Securities and Use of Proceeds31Item 3.Defaults Upon Senior Securities31Item 4.Mine Safety Disclosures31Item 5.Other Information31Item 6.Exhibits32Signatures33 PART I. Financial Information FIREFLY NEUROSCIENCE, INC. CONDENSED CONSOLIDATED BALANCE SHEETSAS OFMARCH 31, 2026ANDDECEMBER 31, 2025(IN THOUSANDS, EXCEPT SHARE DATA) SHAREHOLDERS’ EQUITY (DEFICIT)Preferred shares, $0.0001 par value: 1,000,000 shares authorized; nil issued andoutstanding at March 31, 2026 and December 31, 2025--Common shares, $0.0001 par value: 5,000,000,000 shares authorized; 14,865,356 and13,964,367 issued and outstanding at March 31, 2026 and December 31, 2025,respectively11Additional paid-in capital122,060119,251Accumulated deficit(113,619)(111,615)TOTAL SHAREHOLDERS’ EQUITY (DEFICIT)8,4427,637TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$10,910$10,477 FIREFLY NEUROSCIENCE, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSSFOR THETHREE MONTHS ENDED MARCH 31, 2026 AND 2025(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) FIREFLY NEUROSCIENCE, INC. FIREFLY NEUROSCIENCE, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWSFOR THETHREE MONTHS ENDED MARCH 31, 2026 AND 2025(IN THOUSANDS) FIREFLY NEUROSCIENCE, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) NOTE 1: BUSINESS DESCRIPTION Overview Firefly Neuroscience, Inc., a Delaware corporation, and its wholly owned subsidiaries Evoke Neuroscience, Inc., a Delawarecorporation, Firefly Neuroscience2023, Inc., a Delaware corporation, Firefly Neuroscience Ltd., an Israeli corporation, Elminda 2022Inc., a Delaware corporation, Firefly Neurosciences Canada Inc., a Canadian corporation, and Elminda Canada Inc., a Canadiancorporation (collectively, the “Company”), are engaged in the development, marketing and distribution of medical devices andtechnology allowing high resolution visualization and evaluation of the complex neuro-physiological interconnections of the humanbrain. The combined entity operates under the name Firefly Neuroscience, Inc., and on August 13, 2024, the Company began trading on theNasdaq Capital Market (NASDAQ Ticker Symbol: AIFF). NOTE 2: GOING CONCERN As ofMarch 31, 2026, the Company had an accumulated deficit of$113,619and negative cash flow from operating activities forthethree months ended March 31