SCNI Scinai Immunotherapeutics Ltd.

Overview and Growth

Scinai Immunotherapeutics Ltd. generated $1.31M of revenue in fiscal 2025, with net loss of $8.31M and an operating cash outflow of $6.03M. The $1.31M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 99.2% above fiscal 2024 revenue of $658.00K, marking a year-over-year increase. The diluted weighted-average share count was 9.34B, linking total earnings with the per-share result received by shareholders. The diluted share count was 189.6% higher than fiscal 2024, when diluted shares averaged 3.23B, adding context to the EPS comparison. The company employed $11.63M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 0.11x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

A gross loss of $2.65M left no positive gross-profit layer to absorb operating expenses. Relative to revenue, the gross deficit measured 202.3% before operating expenses. Operations produced a $7.54M operating loss before non-operating and tax effects. Relative to revenue, the operating deficit measured 575.3%, showing the shortfall after operating costs. The bottom-line result was a net loss of $8.31M after operating, financing, tax, and other recognized items. The net loss equaled 633.6% of revenue, showing the bottom-line deficit relative to the company’s sales base. EBITDA was negative $6.12M, showing a deficit before interest, taxes, depreciation, and amortization. Relative to period-end equity, the net loss represented 102.5%. The loss-to-assets relationship was 71.5%, placing the bottom-line deficit against the company’s resource base. A $8.31M net loss replaced fiscal 2024 net income of $4.80M.

Liquidity and Capital Structure

At period end, the $11.63M asset base was financed through $3.52M of liabilities and $8.10M of equity. Current assets were $2.05M against $1.58M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 1.3x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Cash and equivalents totaled $1.66M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 104.8% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Equity equaled 69.7% of assets, showing the shareholder-capital layer within the company’s balance sheet. The liabilities-to-assets relationship was 30.3%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 14.3% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 13.5% from $13.45M in fiscal 2024, leaving current total assets lower year over year. Book equity was 18.8% lower than fiscal 2024 equity of $9.98M, showing how shareholder capital changed year over year. The reported cash balance changed 15.4% from $1.96M in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $6.03M, rather than cash generation from operations. Capital expenditures used $24.00K in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. The company recorded a $6.05M cash deficit after capital spending for the period. The free-cash-flow deficit equaled 461.9% of revenue, showing the post-investment cash shortfall relative to sales. The cash deficit after capital spending represented 52.1% of the period-end asset base. The operating cash outflow narrowed to $6.03M from $6.33M in fiscal 2024.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.