MBOTHIGH SIGNALFINANCIAL10-K

Microbot Medical experienced a dramatic revenue collapse alongside substantially higher operating losses and SG&A expenses, while common shares outstanding nearly doubled.

The company's revenue declined precipitously while operating losses expanded meaningfully, indicating significant deterioration in business fundamentals. The near-doubling of shares outstanding from 34.7M to 67.2M suggests substantial dilutive equity financing, likely driven by the company's continued cash burn and inability to generate sustainable revenues.

Comparing 2026-03-26 vs 2025-03-25View on EDGAR →
FINANCIAL ANALYSIS

Microbot's financial position weakened considerably with revenue falling dramatically from $1.0M to $117K while SG&A expenses grew substantially to $8.5M, driving operating losses meaningfully higher to $14.7M. Operating cash flow deteriorated notably to negative $13.0M, though the company maintained adequate liquidity with cash increasing to $3.9M. The substantial increase in total liabilities to $4.0M combined with the significant share dilution reflects the ongoing capital requirements of this pre-revenue medical device company.

FINANCIAL STATEMENT CHANGES
Revenue
P&L
-88.5%
$1.0M→$117K

Revenue declined 88.5% — significant demand weakness or market share loss warrants investigation.

SG&A Expense
P&L
+69.4%
$5.0M→$8.5M

SG&A up 69.4% — significant increase in sales or administrative costs, monitor impact on operating leverage.

Total Liabilities
Balance Sheet
+59.5%
$2.5M→$4.0M

Liabilities grew 59.5% — significant increase in debt or obligations, assess impact on financial flexibility.

Operating Cash Flow
Cash Flow
-47.8%
-$8.8M→-$13.0M

Operating cash flow fell 47.8% — earnings quality concerns; investigate working capital changes and non-cash items.

Accounts Receivable
Balance Sheet
+46.5%
$109K→$159K

Receivables surged 46.5% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Current Liabilities
Balance Sheet
+39.1%
$2.5M→$3.4M

Current liabilities surged 39.1% — significant near-term obligations; verify ability to meet short-term debt.

Interest Expense
P&L
-28.8%
$333K→$237K

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Operating Income
P&L
-26.8%
-$11.6M→-$14.7M

Operating profitability softening — costs rising faster than revenue, watch for margin recovery plan.

Cash & Equivalents
Balance Sheet
+25.6%
$3.1M→$3.9M

Cash grew 25.6% — improving liquidity position supports investment and shareholder returns.

Gross Profit
P&L
-19.7%
$1.1M→$887K

Gross margin compression — rising input costs, pricing pressure, or unfavorable product mix shift.

LANGUAGE CHANGES
NEW — 2026-03-26
PRIOR — 2025-03-25
ADDED
Common stock outstanding as of March 24, 2026: 67,158,044 shares INFORMATION CONCERNING FORWARD-LOOKING STATEMENTS This report contains forward-looking statements.
Exhibits and Financial Statement Schedules 53 Item 16 Form 10-K Summary 55 i NOTE REGARDING REFERENCES TO OUR COMPANY Throughout this Form 10-K, the words we, us, our, the Company and Microbot refer to Microbot Medical Inc., including our wholly owned subsidiary, Microbot Medical Ltd., an Israeli corporation ( Microbot Israel ).
Unless the context otherwise requires, the historical business, financial statements and operations of Microbot include Microbot Israel, which became a wholly owned subsidiary of the Company on November 28, 2016.
Risks Relating to Microbot s Financial Position and Need for Additional Capital Through December 31, 2025, Microbot has not recognized any revenues, and cannot make any assurances of generating significant revenues in the future.
It has incurred significant operating losses since inception and is expected to continue to incur significant operating losses for the foreseeable future.
Microbot has a limited operating history as a commercial-stage company since it ceased primarily being a research and development-stage company, which may make it difficult to evaluate the prospects for the Company s future viability.
Microbot expects to need additional funding, to continue to transition to a profitable commercial enterprise and build a sustainable business model.
If Microbot is unable to raise capital, it could be forced to delay, reduce or eliminate its commercialization efforts or future product development programs.
Risks Relating to the Development and Commercialization of Microbot s Products Microbot s business depends heavily on the success of its sole product, the LIBERTY Endovascular Robotic Surgical System.
Unsuccessful studies, trials or procedures relating to product candidates under development or that we may develop, or applications for such candidates, could have a material adverse effect on our prospects.
REMOVED
Common stock outstanding as of March 24, 2025: 34,744,476 shares INFORMATION CONCERNING FORWARD-LOOKING STATEMENTS This report contains forward-looking statements.
Exhibits and Financial Statement Schedules 55 Item 16 Form 10-K Summary 57 i NOTE REGARDING REFERENCES TO OUR COMPANY Throughout this Form 10-K, the words we, us, our, the Company and Microbot refer to Microbot Medical Inc., including our directly and indirectly wholly owned subsidiary.
Unless the context otherwise requires, the historical business, financial statements and operations of Microbot include Microbot Medical Ltd., an Israeli corporation ( Microbot Israel ) which became a wholly owned subsidiary of the Company on November 28, 2016.
Risks Relating to Microbot s Financial Position and Need for Additional Capital Microbot has had no revenue and has incurred significant operating losses since inception and is expected to continue to incur significant operating losses for the foreseeable future.
Microbot has a limited operating history outside of being a research and development-stage company, which may make it difficult to evaluate the prospects for the Company s future viability.
If Microbot is unable to raise capital when needed, it could be forced to delay, reduce or eliminate its product development programs or commercialization efforts.
Risks Relating to the Development and Commercialization of Microbot s Product Candidates Unsuccessful studies, trials or procedures relating to product candidates under development or that we may develop, or applications for such candidates, could have a material adverse effect on our prospects.
Microbot s business depends heavily on the success of its sole lead product candidate, the LIBERTY Endovascular Robotic Surgical System.
At this time, Microbot does not know whether the data submitted with its 510(k) application will satisfy all FDA requirements to support clearance of the LIBERTY Endovascular Robotic Surgical System, which creates uncertainty for Microbot as well as the possibility of increased product development costs and time to market.
Clinical outcome studies for the LIBERTY Endovascular Robotic Surgical System may not provide sufficient data to make Microbot s product candidates attractive.
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