v3.25.2
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 11 – SEGMENT INFORMATION

 

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly provided to the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is the Company’s CODM. The CODM reviews financial information presented by operating segment in making operating decisions, allocating resources, and evaluating financial performance.

 

The Company conducted the business through two primary operating segments: NanoVibronix and ENvue. NanoVibronix derives revenues from selling its products directly to patients as well as through distributor agreements. ENvue derives revenues from selling its Systems and Nasoenteral tubes. Non-allocated administrative and other expenses are reflected in Corporate.

 

The Company’s chief executive officer is its chief operating decision maker (CODM), who allocates resources to and assesses the performance of each operating segment using information about the operating segment’s loss from operations.

 

Goodwill and Assets

 

   NanoVibronix   ENvue   Corporate   Total 
As of June 30, 2025                    
Goodwill   -    38,631    -    38,631 
Assets  $2,411   $49,071   $-   $51,482 
                     
As of December 31, 2024                    
Goodwill   -    -    -    - 
Assets  $3,629   $-   $-   $3,629 

 

 


Segment operating results

 

Six months ended June 30, 2025:  NanoVibronix   ENvue   Corporate   Total 
Revenues  $1,367   $152   $-   $1,519 
Cost of revenues   875    310    -    1,185 
Research and development   1,184    318    -    1,502 
Selling and marketing   325    741    -    1,066 
General and administrative   1,231    802    1,561    3,594 
Loss from operations   (2,248)   (2,019)   (1,561)   (5,828)

 

Six months ended June 30, 2024:  NanoVibronix   ENvue   Corporate   Total 
Revenues  $1,738   $        -   $     -   $1,738 
Cost of revenues   646    -    -    646 
Research and development   308    -    -    308 
Selling and marketing   364    -    -    364 
General and administrative   1,662    -    -    1,662 
Loss from operations   (1,242)   -    -    (1,242)

 

Three months ended June 30, 2025:  NanoVibronix   ENvue   Corporate   Total 
Revenues  $445   $49   $-   $494 
Cost of revenues   295    234    -    529 
Research and development   772    200    -    972 
Selling and marketing   180    537    -    717 
General and administrative   807    610    835    2,252 
Loss from operations   (1,609)   (1,532)   (835)   (3,976)

 

Three months ended June 30, 2024:  NanoVibronix   ENvue   Corporate   Total 
Revenues  $817   $          -   $     -   $817 
Cost of revenues   389    -    -    389 
Research and development   187    -    -    187 
Selling and marketing   199    -    -    199 
General and administrative   716    -    -    716 
Loss from operations   (674)   -    -    (674)

 

Geographic Information and Major Customer Data

 

The following is a summary of revenues within geographic areas:

 

   2025   2024   2025   2024 
   Three Months Ended June 30,   Six Months Ended June 30, 
   2025   2024   2025   2024 
United States  $462   $794   $1,448   $1,698 
Europe   8    -    17    - 
Australia/New Zealand   20    8    39    13 
Other   4    15    15    27 
Total  $494   $817   $1,519   $1,738 

 

 

For the three and six months ended June 30, 2025, the Company generated approximately $26 and $523, respectively, in revenue from its largest direct medical distributor, Ultra Pain Products, LLC. This represents approximately 2% and 34%, respectively, of the company’s total revenue in each of the respective periods . For both the three and six months ended June 30, 2024, the Company’s largest customer comprised approximately 52% and 41% of total revenues in each of the respective periods.