Movano (MOVE) Q3 2025 earnings summary

Executive summary

• Entered into a merger agreement with Corvex, Inc., expected to close in Q1 2026, with Corvex shareholders to own ~96% of the combined company on a fully diluted basis.

• Raised $3.0 million in Series A Preferred Stock and established a $1.0 billion equity facility with Chardan Capital Markets.

• Launched the Evie Ring, a wearable health device, and received FDA 510(k) clearance for the EvieMED Ring's pulse oximetry feature.

Financial highlights

• Revenue for Q3 2025 was $80,000, up 60% year-over-year; nine-month revenue was $389,000, down 57% year-over-year due to reduced marketing and sales volume.

• Net loss for Q3 2025 was $4.0 million, a 44% improvement year-over-year; nine-month net loss was $12.4 million, a 35% improvement year-over-year.

• Operating expenses for Q3 2025 decreased 64% year-over-year, driven by lower R&D and SG&A costs.

• Cash and cash equivalents as of September 30, 2025, were $2.0 million.

Outlook and guidance

• Cash and recent equity raise expected to fund operations through the anticipated merger closing in Q1 2026; additional capital will be required if the merger is not completed.

• Substantial doubt exists about the ability to continue as a going concern beyond Q1 2026 without further financing or completion of the merger.