Think of it as an early-stage Intuitive Surgical, but focused on developing microscopic robots for navigating inside the human body during minimally invasive procedures.

Imagine a medical device company that makes the equivalent of a tiny, autonomous iRobot Roomba designed to perform precise tasks within human arteries, organs, or cavities.

• Self Cleaning Shunt: A device designed for the treatment of hydrocephalus and normal pressure hydrocephalus.
• Disposable Robot: A single-use robotic device intended for various endovascular interventional procedures.

Microbot Medical Inc. (MBOT) is a pre-clinical medical device company focused on research, design, and development of robotic endoluminal surgery devices. As such, the company is not currently engaged in the commercial sale of its products to end-users (such as hospitals or individuals).

Instead, Microbot Medical's primary business activities involve technology development and strategic partnerships. Its most significant relationship is a strategic collaboration agreement for technology co-development with:

• Stryker Corporation (Symbol: SYK)

Stryker Corporation, a global leader in medical technology, serves as a major strategic partner and collaborator for Microbot Medical's developmental technologies.

Harel Gadot, CEO, President and Chairman

Mr. Gadot is a co-founder of Microbot Medical and has served as its CEO since its inception and Chairman of the Board since 2013. He is also the founder and Chairman of MEDX Ventures Group, XACT Robotics Ltd., and MEDX Xelerator LP. Until 2013, Mr. Gadot was a board member at ConTIPI Ltd., which was acquired by Kimberly Clark Corporation in 2012. Prior to founding Microbot Medical, he held roles as a Worldwide Group Marketing Director and Regional Marketing Manager at Johnson & Johnson (Ethicon Inc.)

Rachel Vaknin, Chief Financial Officer

Ms. Vaknin was promoted to Chief Financial Officer of Microbot Medical in April 2022, after joining the company in January 2022 as VP Finance. Her previous experience includes serving as CFO of Imagry from 2017 to 2021 and as FP&A Department Manager at Mellanox Technologies from 2004 to 2016.

Simon Sharon, GM, Chief Technology Officer

Mr. Sharon serves as the General Manager and Chief Technology Officer for Microbot Medical.

Moshe Shoham, Co-Founder

Professor Shoham is a co-founder of Microbot Medical. He is a professor emeritus at the Technion – Israel Institute of Technology. He founded or co-founded several companies, including Mazor Robotics (acquired by Medtronic in 2018 for $1.64 billion), Diagnostic Robotics, and Tamar Robotics. He is also an angel investor.

Yossi Bornstein, Co-Founder & Independent Director

Mr. Bornstein is a co-founder and Independent Director of Microbot Medical. He has a strong entrepreneurial background, having founded and served as CEO of Shizim Group, and co-founded Microbot Medical Israel, The Biomed Management Education Center, XACT Robotics, Dolphin Medical, GCP Clinical Studies, IdentifAI Genetics, and Cann10 - Medical Cannabis.

Microbot Medical Inc. (MBOT) faces several key business risks as it transitions from a pre-clinical, research and development focused entity to a commercial-stage company:

1. Commercialization and Market Adoption Risk: Microbot Medical's success is heavily reliant on the effective commercialization and widespread market adoption of its flagship product, the LIBERTY Endovascular Robotic System. As a company moving from an R&D stage to generating revenue, there is a significant risk that slower-than-anticipated clinical adoption or a lack of market readiness for this novel technology could impede sales and growth. This execution risk is paramount, as successful commercialization is critical for the company to generate revenue and become profitable.
2. Financial Risk (Cash Burn and Shareholder Dilution): The company has historically incurred significant operating losses and a consistent cash burn, making its financial health largely dependent on securing capital through equity raises. Although Microbot Medical recently enhanced its liquidity, a slower commercial ramp-up or delays in regulatory timelines could necessitate further dilutive equity financings to sustain operations. Such dilution would increase the number of outstanding shares and could negatively impact the value for existing shareholders.
3. Regulatory Risks: Operating in the medical device industry, Microbot Medical is subject to extensive and rigorous regulatory processes. While the company has achieved FDA 510(k) clearance for its LIBERTY System, there remains a risk of future regulatory delays, evolving requirements, or the need for additional trial data for current or future product candidates. Any such hurdles could materially and adversely affect the company's development plans, increase costs, and delay market entry, ultimately impacting its ability to achieve commercial success if products are not deemed safe and effective.

Microbot Medical Inc. operates in the medical device industry, focusing on robotic endoluminal surgery devices. The company's main products, a self-cleaning shunt and a disposable robot for endovascular procedures, target significant addressable markets.

The global market for **hydrocephalus shunts**, which includes devices like Microbot Medical's Self Cleaning Shunt, was valued at approximately USD 510.21 million in 2025 and is projected to reach USD 616.35 million by 2031, growing at a compound annual growth rate (CAGR) of 3.20%. Another estimate places the global hydrocephalus shunts market at USD 580.2 million in 2026, projected to reach USD 735.8 million by 2036 with a CAGR of 2.4%. North America is a significant region within this market, holding the largest revenue share in 2025 and expected to dominate globally with a 48.7% value share in 2026.

For Microbot Medical's disposable robot designed for various **endovascular interventional procedures**, the global endovascular robotic systems market offers a substantial addressable market. This market was valued at USD 1.36 billion in 2025 and is projected to grow to USD 4.04 billion by 2034, exhibiting a CAGR of 12.1%. Other reports indicate the global endovascular robot market was projected to grow from US$1.22 billion in 2025 to US$3.33 billion by 2032, at a CAGR of 15.8%.

Microbot Medical Inc. (MBOT) is poised for future revenue growth over the next 2-3 years, primarily driven by the commercialization and market expansion of its LIBERTY Endovascular Robotic System. The company is transitioning from a research and development stage to active commercialization, with significant revenue increases forecast in the coming years.

The key drivers of future revenue growth for Microbot Medical include:

1. Full Market Release and Commercialization of the LIBERTY Endovascular Robotic System: Having received FDA 510(k) clearance in 2025, Microbot Medical initiated a Limited Market Release (LMR) of its LIBERTY system in late 2025, with a Full Market Release (FMR) anticipated in April 2026, coinciding with the Society of Interventional Radiology (SIR) conference. This launch marks the company's entry into the commercial phase for its disposable, remotely operated robotic system designed for peripheral endovascular procedures, targeting a U.S. market of 2.5 million procedures annually. Analysts project a substantial increase in sales, with an estimated jump from $5.63 million in 2025 to $69.36 million in 2026.
2. Expansion of LIBERTY System Customer Base and Procedural Indications: Following the full market release, a significant driver of revenue will be the expansion of the customer base by attracting early adopters and securing new hospitals with high-volume target procedures. The company also plans to validate the system's market opportunity by expanding the types of procedures that can be performed and increasing the end-user call points to include interventional radiologists, vascular surgeons, and interventional cardiologists.
3. Strategic Collaboration with Stryker Corporation for Neurovascular Applications: Microbot Medical's strategic collaboration agreement with Stryker Corporation’s Neurovascular division, established in December 2021, aims to integrate LIBERTY Robotic Systems with Stryker's neurovascular instruments. This partnership is focused on developing dedicated robotic procedural kits for neurovascular interventions, representing a future revenue stream through expansion into a specialized and significant market segment.
4. Geographical Expansion of the LIBERTY System: While the initial commercialization efforts are focused on the U.S., Microbot Medical is also pursuing additional regulatory approvals outside the U.S. to support future international growth for its LIBERTY system. Expanding into new geographical markets will provide additional revenue opportunities as the product gains traction globally.

Share Issuance

• Microbot Medical has facilitated a potential of approximately $92.2 million in gross proceeds through the exercise of preferred investment options in September and October 2025, which included approximately $29.2 million already raised from the exercise of 13,989,115 shares of common stock and the issuance of new Series J preferred investment options that could bring in an additional $63 million if fully exercised.
• In February 2025, the company completed a registered direct offering for 6,103,289 shares of common stock at $2.13 per share, expecting approximately $13 million in gross proceeds, alongside a concurrent private placement of Series I preferred investment options.
• The number of outstanding shares significantly increased from 19,399,513 at the end of 2024 to 67,158,044 as of November 12, 2025, following the company's decision to increase its authorized common shares to 120,000,000 in June 2025 to fund operations.

Inbound Investments

• Microbot Medical secured approximately $29.2 million in gross proceeds from the exercise of outstanding preferred investment options across three closings in September and October 2025, with the potential for an additional $63 million if newly issued Series J preferred investment options are fully exercised.
• The company raised approximately $13 million in gross proceeds from a registered direct offering and a concurrent private placement of short-term Series I preferred investment options in February 2025.
• Microbot Medical has historically received non-dilutive grants, including approximately $1.9 million from the Israeli Innovation Authority through December 31, 2024, to support its development activities.

Outbound Investments

• Microbot Medical acquired Nitiloop in October 2022.

Capital Expenditures

• The company reported $13,000 in capital expenditures during Q3 2025.
• Funds raised through offerings are primarily intended for the continued development, commercialization, and regulatory activities related to the LIBERTY Robotic System, as well as the expansion of additional applications derived from the company's existing intellectual property portfolio.