ENDRA Life Sciences (NDRA) investor relations material

Executive summary

• Focused on developing a thermo-acoustic device for liver fat measurement and metabolic disease management, with a new digital asset treasury (DAT) strategy allocating treasury reserves to cryptocurrency, primarily HYPE tokens, as of October 2025.

• Completed a private placement raising $4.9 million, with potential for an additional $9.5 million through warrant exercises.

• Launched a strategic initiative to enhance balance sheet flexibility via a reward-generating treasury program.

• No commercial revenue generated as of September 30, 2025; business model targets subscription-based and product sales post-regulatory approval.

• Completed a clinical feasibility study of the redesigned TAEUS device for liver fat measurement.

Financial highlights

• Net loss for Q3 2025 was $1.60 million, down from $2.35 million in Q3 2024; nine-month net loss was $3.86 million, down from $7.36 million year-over-year.

• Operating expenses for the nine months ended September 30, 2025, were $4.14 million, a 36% decrease from $6.52 million in the prior year period.

• Cash balance as of September 30, 2025, was $794,036, down from $3.23 million at year-end 2024; $4.9 million raised post-quarter.

• Cash burn from operations decreased 30% year-over-year to $1.2 million in Q3 2025.

• Total operating expenses for Q3 2025 were $1.4 million, down from $1.5 million in Q3 2024.

Outlook and guidance

• Ongoing need for additional capital to fund operations, commercialization of TAEUS technology, and execution of the DAT strategy.

• Anticipates continued operating losses and significant expenses for R&D and regulatory approvals.

• Focus on financial sustainability and efficient commercialization of TAEUS technology.

• Treasury strategy expected to generate non-dilutive returns and support operational objectives.