FIREFLY NEUROSCIENCE Business Summary

Firefly Neuroscience, Inc. (AIFF) is a medical technology and artificial intelligence company specializing in the commercialization of its FDA-510(k) cleared Brain Network Analytics (BNA™) platform. The company generates revenue through a multi-tiered model including SaaS subscriptions, per-scan transaction fees, and licensing agreements with pharmaceutical companies for use in clinical trials. Its primary business segment focuses on providing objective, AI-driven EEG and ERP biomarkers to improve the diagnosis and treatment monitoring of neurological and mental health disorders, including depression, dementia, and ADHD. Following its strategic acquisition of Evoke Neuroscience in 2025, the company significantly expanded its commercial footprint and proprietary database to over 180,000 standardized records. Firefly competes directly with neuro-analytics firms such as Beacon Biosignals, Brainify.AI, Biotricity, and NetraMark Holdings, positioning itself as a data-rich leader in the precision neuroscience market by leveraging one of the world’s largest longitudinal databases of brain activity. Originally founded in 2006, the company is currently led by CEO Greg Lipschitz, a capital markets and private equity veteran with over 14 years of experience who previously served as the firm’s Executive Chairman. The executive suite includes President and COO Dave DeCaprio, a co-founder of ClosedLoop.ai with over 20 years of experience in healthcare AI, and CTO Gil Issachar, a biomedical engineering expert specializing in neural signal processing and algorithm design. Financial oversight is managed by CFO Paul Krzywicki, a licensed CPA with a background in scaling high-growth startups. The company’s governance is strengthened by Independent Chairman Dr. Arun Menawat, the CEO of Profound Medical and a former executive at Novadaq and Cedara. Notable institutional investors include The Vanguard Group, Geode Capital Management, and Millennium Management, who maintain positions in the company as it scales its 'CLEAR' platform powered by NVIDIA GPU acceleration.