Tearsheet

Firefly Neuroscience (AIFF)


Market Price (12/24/2025): $1.19 | Market Cap: $16.1 Mil
Sector: Information Technology | Industry: Application Software

Firefly Neuroscience (AIFF)


Market Price (12/24/2025): $1.19
Market Cap: $16.1 Mil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29%
Weak multi-year price returns
2Y Excs Rtn is -122%, 3Y Excs Rtn is -174%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -8.8 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1119%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 958%
  Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 106%
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -77%
  Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -972%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -985%
3 Megatrend and thematic drivers
Megatrends include Neuroscience & Brain Health. Themes include Neurological Diagnostics, AI in Neuroscience, and Neurotherapeutics.
  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -147%
4   High stock price volatility
Vol 12M is 215%
5   Key risks
AIFF key risks include [1] a critical cash burn rate with less than one year of cash runway, Show more.
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 958%
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -77%
3 Megatrend and thematic drivers
Megatrends include Neuroscience & Brain Health. Themes include Neurological Diagnostics, AI in Neuroscience, and Neurotherapeutics.
4 Weak multi-year price returns
2Y Excs Rtn is -122%, 3Y Excs Rtn is -174%
5 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -8.8 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1119%
6 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 106%
7 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -972%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -985%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -147%
9 High stock price volatility
Vol 12M is 215%
10 Key risks
AIFF key risks include [1] a critical cash burn rate with less than one year of cash runway, Show more.

Valuation, Metrics & Events

AIFF Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

From approximately August 31, 2025, to December 25, 2025, Firefly Neuroscience (AIFF) experienced a significant stock decline of around 58.5%, attributed to several key factors.

1. Continued Net Losses and Cautious Financial Outlook: Despite reporting substantial revenue growth in the third quarter of 2025, primarily due to the acquisition of Evoke Neuroscience, Firefly Neuroscience continued to report net losses, with a net loss of $2.6 million for Q3 2025. This indicated ongoing challenges in achieving profitability, which likely contributed to investor skepticism.

2. Bearish Analyst Ratings and Negative Price Forecasts: Throughout this period, Firefly Neuroscience received unfavorable assessments from analysts and technical indicators. By December 2025, StockInvest.us downgraded the stock to a "Strong Sell" candidate, predicting a further fall of approximately 53% in the subsequent three months.

Show more

Stock Movement Drivers

Fundamental Drivers

The -62.4% change in AIFF stock from 9/24/2025 to 12/24/2025 was primarily driven by a -78.1% change in the company's P/S Multiple.
924202512242025Change
Stock Price ($)2.951.11-62.37%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)0.430.7882.94%
P/S Multiple87.3219.13-78.09%
Shares Outstanding (Mil)12.6713.50-6.54%
Cumulative Contribution-62.53%

LTM = Last Twelve Months as of date shown

Market Drivers

9/24/2025 to 12/24/2025
ReturnCorrelation
AIFF-62.7% 
Market (SPY)4.4%44.5%
Sector (XLK)5.1%44.0%

Fundamental Drivers

The -60.6% change in AIFF stock from 6/25/2025 to 12/24/2025 was primarily driven by a -159.8% change in the company's Shares Outstanding (Mil).
625202512242025Change
Stock Price ($)2.821.11-60.64%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)2.080.78-62.33%
P/S Multiple7.0519.13171.51%
Shares Outstanding (Mil)5.1913.50-159.84%
Cumulative Contribution-161.20%

LTM = Last Twelve Months as of date shown

Market Drivers

6/25/2025 to 12/24/2025
ReturnCorrelation
AIFF-61.0% 
Market (SPY)14.0%40.8%
Sector (XLK)17.5%38.4%

Fundamental Drivers

The -56.3% change in AIFF stock from 12/24/2024 to 12/24/2025 was primarily driven by a -92.1% change in the company's P/S Multiple.
1224202412242025Change
Stock Price ($)2.541.11-56.30%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)0.070.78958.11%
P/S Multiple243.0519.13-92.13%
Shares Outstanding (Mil)7.0813.50-90.62%
Cumulative Contribution-92.19%

LTM = Last Twelve Months as of date shown

Market Drivers

12/24/2024 to 12/24/2025
ReturnCorrelation
AIFF-56.7% 
Market (SPY)15.8%15.4%
Sector (XLK)22.2%14.8%

Fundamental Drivers

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Market Drivers

12/25/2023 to 12/24/2025
ReturnCorrelation
AIFF-77.0% 
Market (SPY)48.9%13.3%
Sector (XLK)54.1%10.8%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
AIFF Return996%241%-90%-65%-48%-55%-70%
Peers Return�����8%�
S&P 500 Return16%27%-19%24%23%18%115%

Monthly Win Rates [3]
AIFF Win Rate50%58%17%42%42%25% 
Peers Win Rate����45%42% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
AIFF Max Drawdown-32%-15%-92%-74%-54%-55% 
Peers Max Drawdown�����-36% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: CBLL, NMTC, STIM, NPCE, LIVN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)

How Low Can It Go

Unique KeyEventAIFFS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-97.8%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven4542.9%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-54.5%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven119.8%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven80 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-79.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven387.6%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven292 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-91.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven1100.0%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven247 days1,480 days

Compare to ADSK, HIT, BMR, BTTC, CCC

In The Past

Firefly Neuroscience's stock fell -97.8% during the 2022 Inflation Shock from a high on 3/28/2022. A -97.8% loss requires a 4542.9% gain to breakeven.

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About Firefly Neuroscience (AIFF)

Firefly Neuroscience, Inc., a medical technology and artificial intelligence company, provides neuroscientific solutions that improve outcomes for patients with mental illnesses and neurological disorders. The company offers Brain Network Analytics, a software that focuses on diagnostic and treatment for people suffering from mental illnesses and cognitive disorders, including depression, dementia, anxiety disorders, concussions, and attention-deficit/hyperactivity disorder. It serves pharmaceutical companies and medical practitioners. Firefly Neuroscience, Inc. is based in Toronto, Canada.

AI Analysis | Feedback

Here are 1-3 brief analogies for Firefly Neuroscience (AIFF):

  • Essentially, the 23andMe for your brain's electrical activity, using AI to provide objective insights into neurological and psychiatric conditions.
  • Think of them as the LabCorp for brain health, but instead of blood tests, they use AI to analyze brainwaves (EEG) for diagnostic insights.
  • They are like the Palantir for neurological data, applying AI to uncover diagnostic patterns from complex brain signals.

AI Analysis | Feedback

  • Firefly Dx System / Brain Function Assessment Platform: This comprehensive diagnostic platform combines specialized EEG hardware with AI-powered software and cloud analytics to provide objective physiological biomarkers of brain function for the diagnosis and monitoring of neurological and psychiatric disorders.

AI Analysis | Feedback

Firefly Neuroscience (AIFF) primarily sells its advanced EEG-based diagnostic and brain health systems to other companies and organizations within the healthcare and research sectors.

While specific individual "major customers" (e.g., a single hospital system or clinic chain) are typically not disclosed in their public filings due to the distributed nature of medical device and diagnostic sales, their primary customer categories include:

  • Hospitals and Hospital Systems: Healthcare organizations ranging from large academic medical centers to community hospitals that integrate advanced neurological and psychiatric diagnostics into their patient care services. These systems often consist of various public, private, and non-profit entities.
  • Neurology and Psychiatry Clinics: Specialized outpatient clinics and private practices focused on diagnosing and treating brain health conditions, mental health disorders, and neurological illnesses.
  • Research Institutions and Academic Medical Centers: Universities and dedicated research facilities that utilize Firefly Neuroscience's technology for clinical trials, scientific studies, and advanced patient care integration and development.

Firefly Neuroscience's sales model is focused on widespread adoption across these institutional categories rather than reliance on a small number of named, publicly traded "major customers" that account for a significant portion of their revenue.

AI Analysis | Feedback

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AI Analysis | Feedback

Greg Lipschitz, Chief Executive Officer

Greg Lipschitz was appointed Chief Executive Officer in January 2025, having previously served as Interim Chief Executive Officer and Executive Chairman. He has over 14 years of experience in private equity, capital markets, and merchant banking, and has advised on over $1 billion in mergers and acquisitions. Lipschitz has been a member of the company's board since 2022.

Paul Krzywicki, Chief Financial Officer & Company Secretary

Paul Krzywicki was appointed Chief Financial Officer in March 2024. He brings over 15 years of experience in finance and operations. Krzywicki's employment agreement was amended to increase his annual salary effective September 1, 2025, and he has received stock options and restricted stock units under the company's 2024 Long-Term Incentive Plan.

David DeCaprio, President & Chief Operating Officer

David DeCaprio is the President and Chief Operating Officer of Firefly Neuroscience. He is also a co-founder of ClosedLoop.ai, which was recognized as the #1 AI Software Solution for Health Care in 2022 and 2023.

Gil Issachar, Chief Technology Officer

Gil Issachar serves as the Chief Technology Officer. He has presented data demonstrating the capability of Firefly's BNAâ„¢ system to assess patients' brain age using cognitive data from ERP.

Arun Menawat, Chairman of the Board

Arun Menawat was elected as the new Chairman of the Board in March 2025.

AI Analysis | Feedback

Key Risks to Firefly Neuroscience (AIFF)

The key risks to Firefly Neuroscience (AIFF) primarily revolve around its financial viability, regulatory challenges, and competitive landscape.
  1. Limited Revenue Generation, Profitability, and Cash Burn: Firefly Neuroscience is currently generating minimal revenues and does not anticipate significant revenue until the broad commercialization of its Brain Network Analytics (BNA) Platform. The company has experienced declining earnings over the past five years and generates less than $1 million in revenue. There is no assurance that it will achieve sustained revenues or profitability. Furthermore, the company has been "quickly burning through cash" and its short-term obligations exceed its liquid assets, leading to a cash runway of less than one year. This necessitates raising additional capital, which has led to substantial dilution for existing shareholders in the past year.
  2. Regulatory Hurdles and Market Acceptance for Unproven Business Plan: Operating within the heavily regulated healthcare and biotechnology sectors, Firefly Neuroscience must successfully navigate complex regulatory pathways to bring its products to market. Delays or failures in obtaining necessary approvals could significantly impede growth. The company is in a development stage with no operating history in the broad commercialization of medical devices or platforms for consumer use, and its future relies on an unproven business plan. Even with innovative technologies, market acceptance is not guaranteed, requiring effective demonstration of product efficacy and safety to healthcare providers and patients.
  3. Intense Competition: Firefly Neuroscience faces significant competition from both established companies and emerging startups in the neuroscience market. Major players such as Medtronic, NeuroPace, and Nexstim have strong portfolios and market presence. To succeed, Firefly Neuroscience must differentiate itself through continuous innovation, effective marketing strategies, and strong customer relationships.

AI Analysis | Feedback

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AI Analysis | Feedback

Firefly Neuroscience (AIFF) focuses on developing Artificial Intelligence (AI) solutions to improve brain health outcomes for patients with neurological and mental disorders. Their primary product is the FDA-510(k) cleared Brain Network Analytics (BNAâ„¢) technology, which aids in the diagnosis and treatment monitoring of conditions such as depression, dementia, anxiety disorders, concussions, and ADHD. The company also operates in the areas of cognitive enhancement devices and AI-driven mental health tools. The addressable markets for Firefly Neuroscience's main products and services are as follows:
  • Neurotechnology Market: The global neurotechnology market is projected to reach $12.6 billion by 2030, with an annual growth rate of 8.3%.
  • Cognitive Assessment and Training in Healthcare Market: The global cognitive assessment and training in healthcare market was estimated at USD 5.2 billion in 2023 and is projected to reach USD 26.1 billion by 2030. North America held the largest revenue share in this market in 2023.
  • Brain Health Supplements Market: The global brain health supplements market size was estimated at USD 10.95 billion in 2024 and is projected to reach USD 23.52 billion by 2030. North America dominated the global market with a 39.0% share in 2024.
  • Attention-Deficit Hyperactivity Disorder (ADHD) Market: The global Attention-Deficit Hyperactivity Disorder (ADHD) Market was valued at USD 18.75 billion in 2024 and is expected to reach USD 32.90 billion by 2032. North America leads this market.
  • Anxiety Disorders and Depression Treatment Market: The global anxiety disorders and depression treatment market size was estimated at USD 15.42 billion in 2024 and is projected to reach USD 19.28 billion by 2030. North America dominated this market with a 37.6% share in 2024.
  • Schizophrenia Market: The schizophrenia market across the top 7 major markets (US, EU4, UK, and Japan) reached a value of USD 9,898.3 million in 2024 and is expected to reach USD 15,908.6 million by 2035. The United States represents the largest market for schizophrenia treatment.

AI Analysis | Feedback

Expected Drivers of Future Revenue Growth for Firefly Neuroscience (AIFF)

  1. Commercialization and Adoption of BNA Platform: Firefly Neuroscience is focused on the commercial launch of its FDA-510(k) cleared Brain Network Analytics (BNA) software platform. This includes targeting pharmaceutical companies for drug research and clinical trials, as well as medical practitioners for clinical use.
  2. Strategic Partnerships and Market Expansion for BNA Platform: The company has recently partnered with HealingMaps to provide its cognitive electrophysiology analytics to over 2,500 Ketamine, Psilocybin, and TMS clinics across North America, indicating a significant expansion of its customer base through strategic alliances. Additionally, Firefly has secured other commercial agreements for the use of its BNA platform in precision neuroscience research.
  3. Technological Advancements and New Platform Development: The successful deployment of NVIDIA L40S GPU acceleration to power its next-gen 'CLEAR' platform suggests ongoing innovation. Such technological advancements can lead to enhanced product offerings, attracting more customers, or enabling premium pricing for advanced capabilities.
  4. Acquisition-led Growth: The acquisition of Evoke Neuroscience has been identified as a positive strategic move. Acquisitions typically contribute to revenue growth by expanding market share, product portfolios, and customer bases.
  5. Geographic Market Expansion: Firefly Neuroscience has indicated plans to expand its research partnerships and regulatory engagement into European and Asian markets, moving beyond its initial U.S.-based clinical programs. This international expansion represents a significant opportunity for future revenue growth.

AI Analysis | Feedback

Share Repurchases

  • Firefly Neuroscience, Inc. has shown a Buyback Cash Coverage ratio of 0.0x and a Buyback Yield LTM of 0.0% for the periods 2023-2024, indicating no significant share repurchases.

Share Issuance

  • Stockholders approved an increase in authorized shares to 5,001,000,000 (5,000,000,000 common; 1,000,000 preferred) on October 31, 2025, providing flexibility for future financing.
  • An amendment to the 2024 Long-Term Incentive Plan was approved on October 31, 2025, adding 317,820 shares and adopting an annual evergreen tied to 4% of outstanding shares or a Board-determined lower amount from January 1, 2026, through January 1, 2035.
  • Stockholder approval was granted on February 14, 2025, for significant stock issuances to Helena Special Opportunities LLC and pursuant to a Purchase Agreement with Arena Business Solutions Global SPC II, Ltd.

Inbound Investments

  • Institutional investors purchased a total of 94,991 shares, representing approximately $291.24K in transactions, in the 24 months leading up to November 2025.
  • Noteworthy institutional investors buying shares include Geode Capital Management LLC ($60.95K), Waldron Private Wealth LLC ($32K), FNY Investment Advisers LLC ($22.71K), Trueblood Wealth Management LLC ($16K), and Citadel Advisors LLC ($11.33K).

Outbound Investments

  • The acquisition of Evoke Neuroscience has been noted as a positive strategic move, though specific dollar amounts for this investment were not available in the provided information.

Capital Expenditures

  • Capital expenditures reported in recent years include approximately -$148K (likely 2024), -$536K (likely 2022), -$70K (likely 2021), and -$65K (likely 2020).
  • The company has historically invested significantly in developing its Brain Network Analytics (BNA) software, compiling a database of brain wave tests, and securing patent protection.
  • Recent capital allocation has focused on technological advancements, such as the successful deployment of NVIDIA L40S GPU Acceleration to power its next-gen 'CLEAR' Platform in August 2025.

Latest Trefis Analyses

Title
0ARTICLES

Trade Ideas

Select ideas related to AIFF. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE11302025ENPHEnphase EnergyDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
11.7%11.7%-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11262025PDPagerDutyDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
10.2%10.2%0.0%
CRM_11212025_Dip_Buyer_FCFYield11212025CRMSalesforceDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
16.2%16.2%-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE11212025HUBSHubSpotDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
11.7%11.7%0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11212025FIVNFive9Dip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
4.2%4.2%0.0%

Recent Active Movers

More From Trefis

Peer Comparisons for Firefly Neuroscience

Peers to compare with:

Financials

AIFFCBLLNMTCSTIMNPCELIVNMedian
NameFirefly .CeriBell NeuroOne.Neuronet.NeuroPaceLivaNova  
Mkt Price1.1121.410.771.4316.1963.138.81
Mkt Cap0.00.80.00.10.53.40.3
Rev LTM1839130951,34989
Op Inc LTM-9-57-4-38-18194-13
FCF LTM-8-41-3-31-17191-12
FCF 3Y Avg---9-31-19103-14
CFO LTM-8-40-3-30-16251-12
CFO 3Y Avg---9-29-19150-14

Growth & Margins

AIFFCBLLNMTCSTIMNPCELIVNMedian
NameFirefly .CeriBell NeuroOne.Neuronet.NeuroPaceLivaNova  
Rev Chg LTM958.1%37.9%163.5%78.6%24.1%8.6%58.3%
Rev Chg 3Y Avg--427.0%31.8%29.6%9.9%30.7%
Rev Chg Q1,075.8%31.4%906.6%101.3%29.9%12.5%66.3%
QoQ Delta Rev Chg LTM82.9%7.0%37.2%16.9%7.1%3.0%12.0%
Op Mgn LTM-1,119.4%-68.5%-46.5%-29.2%-19.2%14.4%-37.8%
Op Mgn 3Y Avg---334.3%-38.6%-34.2%8.3%-36.4%
QoQ Delta Op Mgn LTM1,340.6%-1.3%39.1%5.3%3.2%1.0%4.3%
CFO/Rev LTM-971.5%-48.3%-31.2%-23.0%-17.2%18.6%-27.1%
CFO/Rev 3Y Avg---336.7%-34.9%-26.3%11.6%-30.6%
FCF/Rev LTM-984.9%-49.5%-32.1%-23.5%-17.5%14.2%-27.8%
FCF/Rev 3Y Avg---344.7%-37.1%-26.7%7.9%-31.9%

Valuation

AIFFCBLLNMTCSTIMNPCELIVNMedian
NameFirefly .CeriBell NeuroOne.Neuronet.NeuroPaceLivaNova  
Mkt Cap0.00.80.00.10.53.40.3
P/S19.19.54.30.75.72.65.0
P/EBIT-0.7-15.6-11.8-2.6-33.7-25.0-13.7
P/E-0.7-15.0-10.7-2.2-22.4-15.9-12.9
P/CFO-2.0-19.7-13.7-3.2-32.913.8-8.4
Total Yield-142.7%-6.7%-9.4%-46.6%-4.5%-6.3%-8.0%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg---37.1%-71.8%-7.6%3.6%-22.3%
D/E0.00.00.00.90.10.10.1
Net D/E-0.3-0.2-0.20.70.0-0.0-0.1

Returns

AIFFCBLLNMTCSTIMNPCELIVNMedian
NameFirefly .CeriBell NeuroOne.Neuronet.NeuroPaceLivaNova  
1M Rtn-31.1%33.8%15.9%12.2%-0.4%4.4%8.3%
3M Rtn-62.4%75.4%-18.1%-48.9%58.4%18.6%0.3%
6M Rtn-60.6%10.8%6.1%-58.3%53.2%37.6%8.5%
12M Rtn-56.3%-20.6%0.0%-2.4%45.3%35.0%-1.2%
3Y Rtn-93.7%--50.0%-76.1%1,090.4%17.6%-50.0%
1M Excs Rtn-34.5%30.4%12.5%8.8%-3.8%1.0%4.9%
3M Excs Rtn-66.6%84.6%-19.3%-51.6%56.8%15.8%-1.8%
6M Excs Rtn-75.0%-1.9%-7.5%-71.0%35.1%24.9%-4.7%
12M Excs Rtn-69.4%-37.3%-15.4%-14.4%23.5%15.8%-14.9%
3Y Excs Rtn-174.7%--147.5%-158.6%883.6%-64.8%-147.5%

Financials

Segment Financials

Revenue by Segment
$ Mil2024
Analytical reports0
Service0
Total0


Price Behavior

Price Behavior
Market Price$1.10 
Market Cap ($ Bil)0.0 
First Trading Date01/03/2007 
Distance from 52W High-92.9% 
   50 Days200 Days
DMA Price$1.73$2.77
DMA Trenddowndown
Distance from DMA-36.4%-60.4%
 3M1YR
Volatility73.5%216.6%
Downside Capture571.99322.93
Upside Capture2.10195.48
Correlation (SPY)43.5%15.6%
AIFF Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta2.652.762.512.671.741.30
Up Beta-0.210.190.791.910.670.71
Down Beta1.532.113.433.621.391.33
Up Capture289%136%94%121%504%82%
Bmk +ve Days12253873141426
Stock +ve Days10172960111340
Down Capture379%429%329%288%161%111%
Bmk -ve Days7162452107323
Stock -ve Days8223060129394

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of AIFF With Other Asset Classes (Last 1Y)
 AIFFSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-54.2%26.7%19.2%71.9%8.9%6.0%-10.4%
Annualized Volatility215.4%27.6%19.5%19.3%15.3%17.1%35.0%
Sharpe Ratio0.310.840.782.690.360.18-0.12
Correlation With Other Assets 14.8%15.4%4.6%9.7%13.4%14.4%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
 Comparison of AIFF With Other Asset Classes (Last 5Y)
 AIFFSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-50.1%19.0%14.9%18.7%11.7%4.8%32.6%
Annualized Volatility158.2%24.7%17.1%15.5%18.7%18.9%48.7%
Sharpe Ratio0.180.690.700.970.510.170.59
Correlation With Other Assets 9.7%11.9%3.4%3.3%11.7%4.0%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of AIFF With Other Asset Classes (Last 10Y)
 AIFFSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-11.9%22.3%14.7%14.9%6.9%5.2%69.2%
Annualized Volatility173.3%24.2%18.0%14.8%17.6%20.8%55.8%
Sharpe Ratio0.620.840.700.830.310.220.90
Correlation With Other Assets 8.0%9.4%4.2%3.3%8.7%4.1%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity485,452
Short Interest: % Change Since 113020251.4%
Average Daily Volume116,998
Days-to-Cover Short Interest4.15
Basic Shares Quantity13,497,668
Short % of Basic Shares3.6%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/15/2024-5.7%-5.7%-13.2%
11/21/2022-21.1%-28.2%-44.7%
8/15/20229.1%11.6%-4.1%
4/18/20225.0%1.3%-35.4%
11/3/2021-9.5%-13.8%-9.7%
8/18/2021-3.8%3.8%15.0%
5/18/2021-2.6%7.7%31.9%
2/17/202117.6%4.0%45.7%
...
SUMMARY STATS   
# Positive575
# Negative535
Median Positive9.1%7.7%45.7%
Median Negative-5.7%-13.8%-13.2%
Max Positive51.5%27.3%106.1%
Max Negative-21.1%-28.2%-44.7%

SEC Filings

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Report DateFiling DateFiling
93020251112202510-Q 9/30/2025
6302025813202510-Q 6/30/2025
3312025514202510-Q 3/31/2025
12312024403202510-K 12/31/2024
93020241114202410-Q 9/30/2024
6302024819202410-Q 6/30/2024
123120222022024S-4/A 12/31/2022

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Windsor Private Capital LP 10222025Sell2.4633,50082,3103,277,702Form
1Windsor Private Capital LP 10172025Sell2.7417,50048,0273,986,793Form
2Windsor Private Capital LP 10142025Sell2.9430,12688,6944,730,129Form