| Line Item | 2026-04-30 | Q/Q | Y/Y |
|---|---|---|---|
| SG&A Expense | $298K | +63.5% | +153.7% |
| Operating Income | -$298K | -63.5% | -130.6% |
| Interest Expense | $528K | — | +759.3% |
| Net Income | $766K | +121.3% | +404.2% |
| EPS (Basic) | $0.01 | +133.3% | — |
| EPS (Diluted) | $0.01 | +133.3% | — |
| Line Item | 2026-04-30 | Q/Q | Y/Y |
|---|---|---|---|
| Current Assets | $374K | -48.2% | +454.9% |
| Total Assets | $374K | -48.2% | +127.2% |
| Current Liabilities | $10.1M | -10.5% | +47.4% |
| Stockholders' Equity | -$9.7M | +8.0% | -45.5% |
| Line Item | 2026-04-30 | Q/Q | Y/Y |
|---|---|---|---|
| Operating Cash Flow | -$887K | — | — |
| Financing Cash Flow | $1.2M | — | — |
Business Overview
Odyssey Health, Inc. is a development-stage medical device company focused on creating or acquiring distinct assets, intellectual property, and technologies to serve unmet medical needs. The company is currently developing two technologies: the CardioMap heart monitoring and screening device and the Save-A-Life choking rescue device, with plans to acquire additional technologies and establish a trans-disciplinary product development portfolio. During the nine months ended April 30, 2026, the company secured additional debt financing and entered into a Master Technology and Sub-License Agreement for exclusive worldwide rights to BreastCheck (though this agreement was subsequently cancelled in May 2026 due to breach by the licensor).
Segment Performance
The company operates as a single reportable segment under ASC 280. For the nine months ended April 30, 2026, the company reported a net loss of $3.3 million compared to a net loss of $1.5 million for the same period in the prior year. General and administrative expenses decreased from $865,075 to $782,687 for the nine-month periods. Interest expense increased significantly from $193,611 to $1,035,315 due to increased debt. The company recognized a beneficial $1.5 million gain from the change in fair value of derivative liabilities and $3.1 million in financing costs. No segment revenue was generated in either period.
Forward Guidance
The company states it "believe[s] we have sufficient working capital to meet our operating expenses through the end of Fiscal 2026, subject to the risks and uncertainties described herein." However, the company also notes: "For the foreseeable future, we expect to experience continuing operating losses and negative cash flows from operations" and that "If we are not able to obtain the additional financing on a timely basis, we may be required to scale down or perhaps even cease operations." The company indicates it is "continually adjusting our business plan to reflect our current liquidity expectations."
Key Risk Factors
The company faces substantial doubt about its ability to continue as a going concern, with accumulated deficit of $66.1 million, negative working capital of $9.7 million, and no revenue generation to date. Significant liquidity risks exist as the company depends on raising additional capital through debt or equity issuances to meet operating obligations, with no assurance such financing will be available on commercially reasonable terms. The company's products remain in development stages requiring FDA clearance before commercialization in the U.S., and additional regulatory approvals for international markets. Additionally, the company has experienced recent setbacks including cancellation of the BreastCheck license agreement due to licensor breach, and carries substantial debt obligations with derivative liabilities and restrictive covenants that limit operational flexibility.