Firefly Neuroscience Inc. Common Stock (AIFF)

FairStock Score: 53/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

On the 2026-10-13 close of $1.11, Firefly Neuroscience carries a $17.4 million market value, but cheapness is not the same as value. The company is an early-stage AI neurodiagnostics firm with 17 employees and a product called Evoke. In fiscal 2025, revenue was $1.1 million while net loss was $19.9 million, or $1.97 per diluted share. The latest reported quarter, fiscal Q2 2026, showed $514,000 of revenue against a $2.0 million net loss and a -385.99% margin. Revenue is growing—fiscal 2025 revenue rose from $108,000 in fiscal 2024, and fiscal Q2 2026 revenue exceeded fiscal Q2 2025's $299,000—but the company has lost money in each of the last four years. Free cash flow is negative $7.2 million, a -41.3% yield against market cap, so operations consume cash. FairStock's return ratios are not reassuring: return on equity is -68.06%, return on capital employed is -34.85%, Piotroski is 4/9, and Altman Z is -4.46. On the same close, FairStock's P/B is 1.18, which looks modest, but book value is being eroded by losses. There is no visible moat: the product may be useful, but reimbursement, adoption, and competition are unproven. Graham would demand a margin of safety in earnings and assets; Buffett would seek a durable competitive advantage and predictable cash generation. Here, the investment case rests on future execution rather than present financial strength. Growth from a tiny base is possible, but the price is a speculative option on that outcome, not a proven bargain.

In plain English: Firefly Neuroscience makes artificial intelligence software and medical devices for brain testing, including the Evoke System for EEG and ERP assessments. The business is very small and losing money: in the latest quarter, revenue was $514,000 while net loss was $2.0 million. At $1.11 a share, the price looks speculative rather than clearly cheap, because there are no profits to support it and cash is being used up.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer