SaverOne 2014 Ltd., a technology company specializing in transportation and safety solutions, announced its unaudited financial results for the first half of 2024 on August 27, 2024. The company reported a decrease in net loss from NIS 17.8 million in the first half of 2023 to NIS 16.3 million in the same period of 2024, and a reduction in operating loss from NIS 17.6 million to NIS 15.7 million, attributed to efforts to reduce expenses. Revenue for the first half of 2024 was NIS 483 thousand, down from NIS 1.5 million in the previous year, with a corresponding decrease in cost of revenues. The company's R&D expenses decreased due to optimization efforts, while selling and marketing expenses increased due to global market expansion initiatives. General and administrative expenses remained stable. SaverOne...Show More

SaverOne 2014 Ltd., a technology company specializing in transportation and safety solutions, announced its unaudited financial results for the first half of 2024 on August 27, 2024. The company reported a decrease in net loss from NIS 17.8 million in the first half of 2023 to NIS 16.3 million in the same period of 2024, and a reduction in operating loss from NIS 17.6 million to NIS 15.7 million, attributed to efforts to reduce expenses. Revenue for the first half of 2024 was NIS 483 thousand, down from NIS 1.5 million in the previous year, with a corresponding decrease in cost of revenues. The company's R&D expenses decreased due to optimization efforts, while selling and marketing expenses increased due to global market expansion initiatives. General and administrative expenses remained stable. SaverOne has not yet generated sufficient revenues from product sales and has historically experienced net losses, including NIS 33.8 million in 2023. As of June 30, 2024, the company had an accumulated deficit of NIS 151,894 and a comprehensive loss of NIS 16,284 for the six-month period. The company plans to finance operations through equity sales and product revenue but acknowledges substantial doubt about its ability to continue operations without sufficient funding. SaverOne entered into a Standby Equity Purchase Agreement (SEPA) with Yorkville, allowing the sale of up to $10 million in American Depository Shares (ADS), and subsequently amended to increase the commitment to $15 million. The company also filed an F-1 Registration Statement for the resale of Ordinary Shares representing ADSs issued to Yorkville.