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Here are 1-3 brief analogies for GlucoTrack (GCTK):

• "Fitbit for blood sugar"
• "The non-invasive version of a Dexcom or Abbott glucose monitor"

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• GlucoTrack glucose monitoring device: This non-invasive medical device helps people with diabetes and pre-diabetics obtain blood glucose level readings without pain.

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Major Customers of GlucoTrack (GCTK)

GlucoTrack, Inc. sells its non-invasive glucose monitoring devices primarily to individuals who use the product for personal health management. Based on the company's description, the device is designed "for use by people suffering from diabetes and pre-diabetics." Therefore, the major customer categories are:

• Individuals diagnosed with diabetes
• Individuals diagnosed as pre-diabetic

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Paul V. Goode, PhD Chief Executive Officer, President and Director

Paul V. Goode was appointed CEO in November 2021 and has a decorated career in developing innovative medical technologies, specializing in diabetes management. Before joining GlucoTrack, he held roles as Vice President of R&D at MetaCure, Director of Engineering and Algorithm Development at DexCom, and Senior Engineer at MiniMed, Inc., prior to its acquisition by Medtronic. He also previously served on GlucoTrack's Board of Directors.

Peter C. Wulff Chief Financial Officer, Treasurer and Secretary

Peter C. Wulff was appointed CFO in January 2025 and brings over 35 years of financial management experience in emerging growth life sciences. He has a strong track record of successfully raising capital through various mechanisms, including public and private equity offerings, debt financing, and strategic business transactions. Prior to GlucoTrack, he served as CFO at Biological Dynamics, Inc. He also held the CFO position at JenaValve Technology, Inc., where he was instrumental in the company's relocation from Germany and managed multiple capital raise transactions, including equity, debt, and intellectual property out-licensing. His previous roles as a financial corporate officer include medical technology companies such as Alphatec Spine Holdings, Artes Medical, CryoCor, and Pure Biosciences.

Vincent Wong Chief Operations Officer

Vincent Wong possesses extensive experience in life sciences and medical device manufacturing, with a focus on product and process risk management for Class III active implantable devices. Before joining GlucoTrack, he served as Chief Quality Officer at a leading high-volume medical device manufacturer and oversaw corporate quality functions at Cirtec Medical, managing FDA inspections, ISO 13485:2016 transition, and the integration of acquisitions.

Mark Tapsak, PhD Chief Scientific Officer

Mark Tapsak is a medical research scientist with over 25 years of experience in the diabetes industry. He has held senior roles at DexCom and Medtronic.

Ted Williams Vice President of Regulatory Affairs

Ted Williams joined GlucoTrack in January 2025 and has nearly 25 years of experience in regulatory affairs and quality assurance for complex Class III medical devices, including implantable continuous glucose monitors. His background includes roles with Glysens Inc., Therapeutics Inc., and Cardium Therapeutics, focusing on medical devices, drugs, biologics, and gene therapy.

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Here are the key risks to GlucoTrack (GCTK):

1. Regulatory Approval and Commercialization Risk: GlucoTrack is a clinical-stage company whose future depends entirely on the successful completion of clinical trials and securing regulatory approvals from bodies like the U.S. Food and Drug Administration (FDA) for its non-invasive and implantable glucose monitoring devices. There is no guarantee of obtaining these approvals or achieving commercial success, and any delays or failures in this process could significantly impede the company's operations and prospects.
2. Financial Health and Going Concern Risk: As a pre-revenue company, GlucoTrack has consistently reported operating losses and an accumulated deficit, making it highly dependent on external equity financing to sustain its operations. Management has indicated that current cash reserves are not expected to cover liquidity needs for at least 12 months, which raises substantial doubt about the company's ability to continue as a going concern. The company's reliance on frequent and often dilutive financing, including significant reverse stock splits and share issuances, poses a risk to existing shareholders.
3. Accuracy and Efficacy of Non-Invasive/Implantable Technology: The development of non-invasive glucose monitoring devices faces inherent challenges regarding accuracy, calibration, and usability. These devices often suffer from a low signal-to-noise ratio and difficulties in achieving high correlation with actual blood glucose values, which are critical for clinical application and market acceptance. While GlucoTrack is also developing an implantable device designed for direct blood measurement, rigorous validation and overcoming these technological hurdles remain crucial for its products to gain widespread adoption and compete effectively in the market.

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The primary clear emerging threat to GlucoTrack is the potential entry of large technology companies, most notably Apple, into the non-invasive glucose monitoring market. Apple has reportedly invested significantly in developing a non-invasive glucose monitoring feature for its Apple Watch. If successful, such a feature would offer a direct, highly scalable, and widely adopted competitor that could significantly undermine GlucoTrack's market position and value proposition, akin to how Apple's iPhone disrupted Research in Motion's BlackBerry by offering a superior and integrated user experience.

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The addressable market for GlucoTrack's main products, which include non-invasive glucose monitoring devices and their fully implantable Continuous Blood Glucose Monitor (CBGM), falls within the global non-invasive glucose monitoring device market and the broader continuous glucose monitoring (CGM) market.

The global continuous glucose monitoring (CGM) market is valued at approximately $11.6 billion. GlucoTrack's fully implantable CBGM aims to address unmet needs within this growing market by offering a system designed for long-term continuous monitoring without the need for wearables.

Additionally, the global non-invasive glucose monitoring device market was estimated at USD 9.34 billion in 2025 and is projected to reach USD 15.11 billion by 2031, growing at a CAGR of 8.35% from 2026 to 2031.

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Here are 3-5 expected drivers of future revenue growth for GlucoTrack (GCTK) over the next 2-3 years:

1. Successful FDA Approval and Commercialization of the Implantable Continuous Blood Glucose Monitor (CBGM): GlucoTrack's most significant future revenue driver is the successful approval and commercialization of its long-term, fully implantable Continuous Blood Glucose Monitor (CBGM). The company is a pre-revenue, clinical-stage entity, and its future hinges on securing an Investigational Device Exemption (IDE) from the FDA, with submission expected in Spring 2026. This would enable the company to enter the multi-billion-dollar diabetes management market.
2. Expansion into Type 1 and Intensive Type 2 Diabetes Markets: The implantable CBGM is specifically designed to cater to the needs of individuals with Type 1 and intensive Type 2 diabetes. This product aims to offer a differentiated solution with a three-year sensor life and no on-body wearable component, potentially providing superior accuracy through direct blood glucose measurement.
3. Development and Commercialization of Epidural Glucose Monitoring for Painful Diabetic Neuropathy (PDN): GlucoTrack is expanding its technology to include epidural glucose monitoring, targeting patients suffering from Painful Diabetic Neuropathy (PDN). The company has completed preclinical animal testing and initiated a long-term animal study, indicating a new potential market application for its glucose monitoring technology.
4. International Market Expansion: The company is actively pursuing international clinical development, evidenced by receiving ethical approval in Australia to initiate a long-term clinical study for its CBGM in the third quarter of 2025. This progress could pave the way for future commercialization and revenue generation in markets outside of the United States.

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Share Repurchases

• On June 30, 2025, GlucoTrack repurchased over 90% (approximately 49,700) of its outstanding Series A Warrants using existing cash.
• The Series A Warrants were originally issued as part of a $10 million Public Offering completed in November 2024.
• This repurchase was part of the company's capital formation strategy, aiming to strengthen its capital structure, eliminate warrant liability accounting, and reduce share dilution.

Share Issuance

• On March 13, 2026, shareholders approved the full issuance of shares of common stock to Sixth Borough Capital Fund, LP under a September 11, 2025, purchase agreement, which could exceed 20% of shares outstanding.
• Shareholders also approved the full issuance of shares underlying 2,067,182 common warrants from a private placement that closed on December 31, 2025.
• On December 30, 2025, GlucoTrack announced a $4.0 million private placement with a single institutional investor, involving the sale of 1,033,591 common shares (or equivalents) and warrants to purchase up to 2,067,182 additional shares at an effective price of $3.87 per share.
• An underwritten public offering on April 13, 2023, generated approximately $10 million in gross proceeds from the issuance of 5,376,472 shares of common stock and 1,976,470 pre-funded warrants.

Inbound Investments

• From November 2024 through March 2025, GlucoTrack secured $16.3 million in proceeds through multiple funding rounds.
• In Q3 2025, the company received $3.0 million under a Note Purchase Agreement with an investor, issuing a Convertible Promissory Note for $3.6 million.
• On September 11, 2025, an equity line of credit (ELOC) was established with Sixth Borough Capital Fund, LP, allowing the company to sell up to $20.0 million of its common stock.

Capital Expenditures

• Research and development expenses increased by $4.8 million to $9.5 million for the full year 2024 compared to $4.7 million in 2023, primarily due to increased product design, development, manufacturing activities, and pre-clinical animal studies.
• For the nine months ended September 30, 2025, research and development expenses were $8.2 million, up from $7.8 million in the same period of 2024, mainly due to increased product and manufacturing development costs related to the GlucoTrack CBGM Product.
• Proceeds from financing activities, including the April 2023 public offering and December 2025 private placement, were allocated for working capital and general corporate purposes, which could include capital expenditures for product development.