$ZOOZ

ZOOZ Strategy Ltd.

CIK:0001992818|SEC Filings

Consolidated Statements of Operations - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

Income Statement [Abstract]

Revenue

$ 247

$ 1,041

$ 764

Cost of revenue

3,111

1,527

1,869

Gross loss

(2,864)

(486)

(1,105)

Research and development, net

3,742

5,062

5,215

Sales and marketing

1,310

1,324

3,041

General and administrative

14,908

3,664

2,850

Unrealized loss on digital assets

30,307

^[1]

Operating loss

(53,131)

(10,536)

(12,211)

Interest expenses

160

171

Other finance expenses (income), net

2,298

283

(456)

Net loss

$ (55,589)

$ (10,990)

$ (11,755)

Net loss per ordinary share attributable to shareholders basic

$ (0.94)

$ (1.09)

$ (1.99)

Net loss per ordinary share attributable to shareholders diluted

$ (0.94)

$ (1.09)

$ (1.99)

Weighted average ordinary shares outstanding basic

59,291

10,070

5,912

Weighted average ordinary shares outstanding diluted

59,291

10,070

5,912

[1]	Other segment items for the Flywheel Business are primarily related to cost of revenue, payroll and other costs supporting the Company’s research and development activity, patents and certain expenses that are not easily allocatable to specific functions.

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$ (55,589)

$ (10,990)

$ (11,755)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation

364

374

239

Unrealized loss on digital assets

30,307

^[1]

Non-cash finance expenses (income), net

2,509

446

(206)

Net changes in operating lease assets and liabilities

(97)

(148)

Loss on property, plant and equipment disposals

453

^[1]

Share-based compensation

6,701

^[1]

369

^[1]

(219)

Changes in operating assets and liabilities:

Prepaid expenses

(107)

(165)

(137)

Other assets

(1,450)

134

(26)

Inventory

2,479

847

(1,117)

Accounts payable

(156)

(232)

Other payables and accrued expenses

1,020

(500)

1,028

Short-term employee benefits

(402)

(114)

Net cash used in operating activities

(13,784)

(9,928)

(12,232)

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchase of Digital assets

(121,935)

Restricted deposits

226

(224)

Short term deposits

(3,500)

Decrease in short term deposits

3,500

Grants received for property, plant and equipment

250

Purchase of property and equipment

(93)

(67)

(1,365)

Net cash provided by (used in) investing activities

(122,028)

159

(1,339)

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from issuance of shares, warrants and pre-funded warrants

155,439

7,699

Issuance costs

(2,709)

(148)

Proceeds from issuance of promissory notes

2,870

Repayments of promissory notes

(929)

Repayments of promissory notes to related party

(2,271)

Proceeds from issuance of warrants liability

4,998

306

Net cash provided by financing activities

154,528

10,727

Effect of change in exchange on cash and cash equivalents balances in foreign currencies

814

128

(550)

Net change in cash and cash equivalents and restricted deposits

19,530

1,086

(14,121)

Cash and cash equivalents and restricted deposits at beginning of year

7,758

6,672

20,793

Cash and cash equivalents and restricted deposits at end of year

27,288

7,758

6,672

Supplemental disclosure of cash flow information

Shares issued for SEPA financing

100

Lease liabilities arising from obtaining right-of-use assets

Modification of lease contract

116

Classification of inventory to property and equipment

195

Classification of property and equipment to inventory

342

Classification of liability classified share-based compensation awards to equity

302

Reclassification of liability classified public warrants to equity

$ 7,754

[1]	Other segment items for the Flywheel Business are primarily related to cost of revenue, payroll and other costs supporting the Company’s research and development activity, patents and certain expenses that are not easily allocatable to specific functions.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 27,028	$ 7,532
Restricted bank deposits	39	34
Prepaid expenses	571	370
Other current assets	1,264	397
Inventory		2,320
TOTAL CURRENT ASSETS	28,902	10,653
NON-CURRENT ASSETS:
Restricted bank deposits	221	192
Prepaid expenses	799	91
Digital assets	91,628
Operating lease right of use assets	726	974
Property and equipment, net	289	927
TOTAL NON-CURRENT ASSETS	93,663	2,184
TOTAL ASSETS	122,565	12,837
CURRENT LIABILITIES:
Accounts payable	178	297
Other payables and accrued expenses	2,161	870
Short-term employee benefits	302	668
Current maturities of operating lease liabilities	292	314
TOTAL CURRENT LIABILITIES	2,933	5,190
NON-CURRENT LIABILITIES:
Warrants liability		331
Operating lease liabilities	432	598
TOTAL NON-CURRENT LIABILITIES	432	929
TOTAL LIABILITIES	3,365	6,119
COMMITMENTS AND CONTINGENCIES (Note 10)
SHAREHOLDERS’ EQUITY:
Share capital - Ordinary shares of NIS 0.00286 par value - Authorized: 1,000,000,000 shares on December 31, 2025, and 34,973,575 at December 31 2024; Issued and outstanding: 161,995,282 shares on December 31, 2025, and 12,105,496 at December 31, 2024	139	10
Additional paid-in capital	234,083	67,026
Accumulated other comprehensive loss	(1,262)	(2,147)
Accumulated deficit	(113,760)	(58,171)
TOTAL EQUITY	119,200	6,718
TOTAL LIABILITIES AND EQUITY	122,565	12,837
Nonrelated Party [Member]
CURRENT LIABILITIES:
Promissory note		890
Related Party [Member]
CURRENT LIABILITIES:
Promissory note		$ 2,151