Revenue volatility and margin compression are evident, with gross margins falling to 20.3% in 2025Q2 from a 51.1% peak in 2024Q2.
| Sales/Revenue | 776K | 1.3M | 142K | 421K | 888K | 0 | 0 |
| Revenue Growth % | -14.06% | 815.49% | -66.27% | -52.59% | - | - | - |
| Cost of Goods Sold | 667K | 850K | 61K | 661K | 36K | 190K | 0 |
| COGS % of Revenue | - | 65.38% | 42.96% | 157.01% | 4.05% | - | - |
| Gross Profit | 109K | 450K | 81K | -240K | -36K | -190K | 0 |
| Gross Margin % | 14.05% | 34.62% | 57.04% | -57.01% | -4.05% | - | - |
| Gross Profit Growth % | - | 455.56% | 133.75% | -566.67% | 81.05% | - | - |
| Operating Expenses | 10.63M | 9.45M | 11.48M | 10.49M | 1.02M | 10.71M | 10.05M |
| OpEx % of Revenue | - | 727.23% | 8087.32% | 2492.87% | 114.75% | - | - |
| Selling, General & Admin | 4.72M | 4.33M | 4.32M | 4.26M | 411K | 3.5M | 2.89M |
| SG&A % of Revenue | - | 332.85% | 3041.55% | 1013.06% | 46.28% | - | - |
| Research & Development | 6.06M | 396K | 6.99M | 6.23M | 608K | 7.21M | 7.16M |
| R&D % of Revenue | - | 30.46% | 4925.35% | 1479.81% | 68.47% | - | - |
| Other Operating Expenses | -152K | 4.73M | 171K | 0 | 0 | 0 | 0 |
| Operating Income | -10.52M | -9M | -11.4M | -10.73M | -10.29M | -10.71M | -10.05M |
| Operating Margin % | -1356.19% | -692.62% | -8030.28% | -2549.88% | -1159.12% | - | - |
| Operating Income Growth % | - | 21.04% | -6.22% | -4.29% | 3.85% | -6.56% | - |
| EBITDA | -10.4M | -8.86M | -11.23M | -10.59M | -10.15M | -10.52M | -9.86M |
| EBITDA Margin % | -1340.46% | -681.31% | -7909.86% | -2514.25% | -1143.02% | - | - |
| EBITDA Growth % | -10.34% | 21.14% | -6.11% | -4.29% | 3.47% | -6.61% | - |
| D&A (Non-Cash Add-back) | 122K | 147K | 171K | 150K | 143K | 190K | 183K |
| EBIT | -10.68M | -9M | -11.4M | -10.73M | -10.22M | -10.71M | -10.05M |
| Net Interest Income | 718K | -1.52M | 255K | 260K | 73K | -2K | 14K |
| Interest Income | 718K | 0 | 255K | 260K | 73K | 0 | 14K |
| Interest Expense | 0 | 1.28M | 0 | 0 | 0 | 2K | 0 |
| Other Income/Expense | -1.54M | -21.7M | 255K | 260K | 73K | -2K | 14K |
| Pretax Income | -12.06M | -30.71M | -11.15M | -10.47M | -10.22M | -10.71M | -10.03M |
| Pretax Margin % | -1554.51% | -2362.15% | -7850.7% | -2488.12% | -1150.9% | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -12.06M | -30.71M | -11.15M | -10.47M | -10.22M | -10.71M | -10.03M |
| Net Margin % | -1554.51% | -2362.15% | -7850.7% | -2488.12% | -1150.9% | - | - |
| Net Income Growth % | 59.3% | -175.46% | -6.42% | -2.5% | 4.55% | -6.73% | - |
| Net Income (Continuing) | -12.06M | -30.71M | -11.15M | -10.47M | -10.22M | -10.71M | -10.03M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.24 | -1.85 | -4.31 | -0.74 | -5.14 | -9.38 | -9.98 |
| EPS Growth % | 89.05% | 57.08% | -482.43% | 85.6% | 45.2% | 6.01% | - |
| EPS (Basic) | - | -1.85 | -4.31 | -0.74 | -5.14 | -9.38 | -9.98 |
| Diluted Shares Outstanding | 50.36M | 16.63M | 2.59M | 14.17M | 15.9M | 1.14M | 1M |
| Basic Shares Outstanding | 50.36M | 16.63M | 2.59M | 14.17M | 15.9M | 1.14M | 1M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Capital Runway and Dilution
According to the latest quarterly financial statements, RVSN's revenue trajectory has shifted from sporadic growth to a contraction, with the most recent period reporting only $118.5K in revenue, highlighting the extreme difficulty in maintaining consistent project-based sales cycles within the highly specialized rail technology market.
The erratic revenue pattern suggests that the company remains in a precarious pilot-to-commercialization phase where single contract timing dictates top-line performance. Investors should monitor whether the inability to sustain growth reflects a lack of market penetration or the inherent length of rail-grade certification cycles.
As reported in the income statement data, gross margins have deteriorated significantly to 20.3% in 2025Q2, down from the 51.1% peak observed in 2024Q2, indicating that the company lacks the pricing power required to offset the rising costs of specialized sensor hardware and integration components.
This margin volatility suggests that RVSN is struggling to achieve economies of scale, as the cost of goods sold remains disproportionately high relative to the small revenue base. The lack of a stable margin profile implies that the current business model is highly sensitive to component price fluctuations.
Based on the provided financial figures, RVSN maintains a rigid cost structure where R&D and SG&A expenses consistently exceed $2.5 million per quarter, dwarfing the current revenue generation and confirming that the firm is heavily reliant on external capital to fund its ongoing operations.
The persistent level of R&D spending suggests a commitment to product development, yet the lack of operating leverage indicates that these investments have not yet translated into commercial scale. The company appears to be trapped in a high-burn cycle that necessitates continuous capital raises to survive.
As indicated by the consistent net losses and the reliance on stock-based compensation, which reached $215K in 2025Q2, the quality of earnings is severely compromised, forcing shareholders to bear the brunt of the company's inability to reach a self-sustaining operational break-even point in the near term.
The reliance on equity-based incentives in a loss-making environment suggests that management is prioritizing talent retention over immediate profitability. Investors should remain cautious, as the persistent net losses and share dilution appear to be the primary mechanisms for funding the company's ongoing research and development activities.
Quick answers to the most common questions about buying RVSN stock.
For fiscal year 2024, Rail Vision Ltd. (RVSN) reported total revenue of $1.3M.
Rail Vision Ltd. (RVSN) reported a net loss of $30.7M for the fiscal year ending 2024.
Rail Vision Ltd. (RVSN) reported an operating income of $-9.0M, resulting in an operating profit margin of -692.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Rail Vision Ltd. (RVSN) generated $0.5M in gross profit for the year, representing a gross profit margin of 34.6%. This demonstrates the company's core pricing power and production efficiency.