$ODYS

Intellisense Solutions Inc.

CIK:0001577445|SEC Filings

Interim Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
REVENUES	$ 420	$ 362	$ 502	$ 2,427
COST OF REVENUES	261	229	322	1,756
GROSS PROFIT	159	133	180	671
RESEARCH AND DEVELOPMENT EXPENSES	2,240	2,356	4,797	4,843
SALES AND MARKETING EXPENSES	921	628	1,883	1,024
GENERAL AND ADMINISTRATIVE EXPENSES	1,529	1,587	3,369	3,802
OPERATING LOSS	(4,531)	(4,438)	(9,869)	(8,998)
FINANCING INCOME, NET	207	363	364	658
NET LOSS AND COMPREHENSIVE LOSS	$ (4,324)	$ (4,075)	$ (9,505)	$ (8,340)
Net loss per common share basic	$ (0.26)	$ (0.25)	$ (0.57)	$ (0.54)
Net loss per common share diluted	$ (0.26)	$ (0.25)	$ (0.57)	$ (0.54)
Weighted average common shares, basic	16,793	16,316	16,591	15,450
Weighted average common shares, diluted	16,793	16,316	16,591	15,450

Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,324)	$ (4,075)	$ (9,505)	$ (8,340)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation	29	31	56	58
Stock based compensation	452	845	1,338	1,651
Profit from exchange differences	(65)	(71)	(45)	(42)
Loss from sales of property and equipment	54		54
Interest income in respect of deposits	(3)		(3)	12
Changes in operating assets and liability items:
Decrease (increase) in accounts receivable	(581)	(295)	(407)	1,023
Decrease (Increase) in inventory	69		(194)	203
Decrease in operating lease liability	(131)	(106)	(270)	(242)
Increase in unbilled receivables	(33)	(161)	(67)	(257)
Decrease in right-of-use asset	104	121	231	239
Increase in current and non-current other assets	(296)	(262)	(200)	(270)
Increase (decrease) in account payables	15	117	(13)	126
Increase (decrease) in related parties	25	(63)	(2)	35
Decrease in contract fulfillment assets				1,017
Increase (decrease) in current and non-current contract liabilities	209	36	177	(1,796)
Increase (decrease) in accrued compensation expenses	(13)	(210)	97	122
Increase (decrease) in current and non-current other liabilities	30	(77)	40	58
Net cash flows used in operating activities	(4,459)	(4,170)	(8,713)	(6,403)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(28)	(3)	(34)	(30)
Proceeds from sales of property and equipment	21		21
Withdrawal of (investment in) short term deposits	(330)		(330)	310
Net cash flows provided by (used in) investing activities	(337)	(3)	(343)	280
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of shares, net of issuance cost (issuance cost)		(35)		20,874
Proceeds from options exercise	101	69	133	182
Net cash flows provided by financing activities	101	34	133	21,056
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(4,695)	(4,139)	(8,923)	14,933
BALANCE OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF THE PERIOD	21,763	37,207	26,010	18,164
EFFECT FROM EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	152	170	133	141
Total cash, cash equivalents and restricted cash	17,220	33,238	17,220	33,238
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheet:
Cash and cash equivalents	17,220	32,910	17,220	32,910
Restricted cash		328		328
SUPPLEMENTAL INFORMATION FOR CASH FLOW:
Right-of-use assets obtained in exchange for operating lease liabilities	272	78	375	78
Termination of right-of-use assets in exchange for cancellation of operating lease obligations		$ (33)	$ (76)	$ (33)

Interim Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS:
Cash and cash equivalents	$ 17,220	$ 25,677
Restricted cash		333
Short-term deposit	333
Accounts receivable	677	278
Unbilled receivables	682	615
Inventory	244	50
Other current assets	754	549
Total current assets	19,910	27,502
NON-CURRENT ASSETS:
Property and equipment, net	249	346
Operating lease right-of-use assets	806	739
Severance pay asset	318	296
Other non-current assets	96	96
Total non-current assets	1,469	1,477
TOTAL ASSETS	21,379	28,979
CURRENT LIABILITIES:
Accounts payable	448	480
Contract liabilities	342	165
Operating lease liabilities - short term	588	511
Accrued compensation expenses	1,586	1,400
Total current liabilities	3,423	2,998
NON-CURRENT LIABILITIES:
Operating lease liabilities - long term	246	259
Liability for severance pay	318	296
Total non-current liabilities	564	555
TOTAL LIABILITIES	3,987	3,553
SHAREHOLDERS’ EQUITY:
Common stock, $0.001 par value; 300,000,000 shares authorized as of June 30, 2026 and December 31, 2025, 16,806,905 and 16,357,327 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	17	17
Additional paid-in capital	89,889	88,418
Accumulated deficit	(72,514)	(63,009)
TOTAL SHAREHOLDERS’ EQUITY	17,392	25,426
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	21,379	28,979
Related Party [Member]
CURRENT LIABILITIES:
Other current liabilities	113	115
Nonrelated Party [Member]
CURRENT LIABILITIES:
Other current liabilities	$ 346	$ 327