RVSNNasdaqRailroad EquipmentUS GAAP · USD

Rail Vision Ltd.

Rail Vision Ltd. develops AI-integrated sensing systems for railway safety, combining electro-optic hardware, machine-learning analytics, and cloud-based software. The company is headquartered in Israel and operates as a publicly listed U.S.-registered foreign issuer, with its technology marketed to rail operators and rail ecosystem partners across international markets.

Liikevaihto1,5milj. USD
+14,4 %v/v
Liikevoitto (EBIT)−11,7milj. USD
−30,3 %v/v
EBIT-marginaali−789,2%
−96,6 %-yks.v/v
Nettotulos−11,1milj. USD
+63,9 %v/v
Vapaa kassavirta−9,2milj. USD
+4,8 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−15−10−505milj. USD2020: EBIT −11 milj. USD20202021: 0,89 milj. USD2021: EBIT −10 milj. USD20212022: 0,42 milj. USD2022: EBIT −11 milj. USD20222023: 0,14 milj. USD2023: EBIT −11 milj. USD20232024: 1,3 milj. USD2024: EBIT −9,0 milj. USD20242025: 1,5 milj. USD2025: EBIT −12 milj. USD20251,5−12
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Rail sensing hardware45 %

Electro-optic and multi-spectral systems installed on rail assets for forward visibility and object detection.

AI analytics software25 %

Machine-learning software that identifies and classifies obstacles and turns sensor data into alerts.

Cloud rail operations platform15 %

Cloud-based tools that convert operational data into insights for safety and efficiency.

Pilot, evaluation and deployment services15 %

Customer proof-of-concept work, demonstrations, and implementation support for rail operators.

Tuotteet

Raportoitu · osuus liikevaihdosta
92,7%FY2025100 %
  • Sale of Products92,7 %
  • Services7,3 %

Lähde: 20-F FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Rail Vision sells primarily to railway operators and rail infrastructure stakeholders that need better forward visibility, hazard detection, and operational safety. The company also works through local partners and rail-industry suppliers, such as Sujan Industries in India, to access operators and support evaluations and deployments. Industrial rail service providers and rail ecosystem companies can also be relevant customers or channel partners where the technology is used to improve yard or line operations.

Railway operators

Buy MainLine and related sensing systems to improve forward visibility and reduce hazard exposure on active lines.

Rail infrastructure stakeholders

Use the technology for safety monitoring, network operations, and controlled deployment trials.

Rail industry partners and distributors

Support market entry, localization, and customer access in specific countries.

Industrial rail service operators

May use rail-safety sensing and analytics for switching, yards, and track operations.

Strategia

Rail Vision’s strategy centers on converting its sensing and AI platform from evaluation into broader rail deployments, using proof-of-concept work to validate performance under real operating conditions. The company is also building local partnerships to access rail networks in target markets, especially where procurement and deployment require regional relationships and operational support.

Commercialize MainLine through pilot-to-deployment conversionLyhyt aikaväli

Rail safety systems typically require field validation before network-wide adoption.

Expand in India and similar high-density rail marketsKeskipitkä aikaväli

Large rail networks create meaningful demand for hazard detection and operator alerting.

Strengthen local partner-led go-to-marketKeskipitkä aikaväli

Rail procurement often depends on local presence, relationships, and implementation support.

Develop cloud analytics as a software layerKeskipitkä aikaväli

Software can increase the value of installed hardware and support ongoing customer relationships.

Maantiede

2025

Rail Vision is based in Israel, with its corporate presence anchored in Ra’anana, while its commercial activity is international and tied to rail markets outside the United States. The reports highlight active engagement in India, where the company completed a proof-of-concept with a major local rail operator, and the business model suggests continued dependence on country-specific rail operators and local partners for commercialization.

Israel60 %
Latin America35 %
USA4,8 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Rail Vision depends on customers moving from evaluation to purchase, which can take time in the rail industry and may not occur even after successful trials. The business also faces technology adoption risk, execution risk in international markets, and concentration risk where a small number of rail customers or pilots can drive results.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →POC and pilot conversion risk1Technology performance in field conditions2Customer concentration3International execution and partner dependency4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. POC and pilot conversion riskVaikutus: KorkeaTodennäköisyys: Korkea

    Rail customers often require extended validation before committing to deployment contracts.

    Kohdistuu: Commercial uptake after demonstrations

  2. Technology performance in field conditionsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Sensors and AI must function across weather, visibility, and track conditions.

    Kohdistuu: Hazard detection and operator alerting

  3. Customer concentrationVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    A limited number of operators or pilots can drive a large share of near-term activity.

    Kohdistuu: Contracts in India and other markets

  4. International execution and partner dependencyVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Market access depends on local collaboration, which can slow commercialization or limit control.

    Kohdistuu: Country-specific expansion

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition on pilot and deployment contracts

Revenue may depend on whether work is delivered, accepted, or provided over time.

Vaikutus: Can create quarter-to-quarter volatility in reported revenue

Derivative and warrant valuation

Fair-value changes can affect finance income or expense without operating cash impact.

Vaikutus: Can distort comparability between periods

Development-stage expense recognition

R&D and implementation costs may be expensed as incurred unless capitalization criteria are met.

Vaikutus: Affects operating loss and investment intensity

Impairment and recoverability judgments

Technology assets and capitalized costs require assessment if commercialization underperforms.

Vaikutus: Could lead to non-cash charges

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 28.9.2026