CapsoVision, Inc

For the period ended Sep 30, 2026. Filed Nov 12, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Nov 12, 2026

CV$6.03-3.8%Stored close · as of Nov 13, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Financial Statements

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	September 30, 2026	December 31, 2025
ASSETS
Current Assets
Cash and cash equivalents	$21,757	$10,112
Accounts receivable, net	2,456	2,498
Inventory	4,747	2,987
Prepaid expenses and other current assets	2,086	1,072
Total current assets	31,046	16,669
Property and equipment, net	508	611
Operating lease right-of-use assets	747	843
Other long-term assets	451	41
TOTAL ASSETS	$32,752	$18,164
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable	$1,102	$1,143
Accrued expenses and other current liabilities	4,355	2,697
Deferred revenue	146	177
Operating lease liabilities – current	521	410
Total current liabilities	6,124	4,427
Operating lease liabilities – long-term	259	477
Total liabilities	6,383	4,904

Stockholders’ Equity
Preferred stock, $0.001 par value: 10,000,000 shares authorized and none issued and outstanding as of September 30, 2026; 10,000,000 shares authorized and none issued and outstanding as of December 31, 2025	—	—
Common stock, $0.001 par value: 300,000,000 shares authorized as of September 30, 2026; 53,569,896 and 46,865,051 issued and outstanding as of September 30, 2026 and December 31, 2025, respectively	54	47
Additional paid-in capital	203,833	168,878
Accumulated deficit	(177,518)	(155,665)
Total stockholders’ equity	26,369	13,260
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$32,752	$18,164

The accompanying notes are an integral part of these condensed financial statements.

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Net revenue	$3,568	$3,538	$10,003	$9,636
Costs of revenue	1,804	1,624	5,039	4,417
Gross profit	1,764	1,914	4,964	5,219
OPERATING EXPENSES
Selling and marketing	2,060	1,773	6,087	5,581
Research and development	4,803	6,090	14,547	12,589
General and administrative	2,285	2,070	6,387	5,101
Total operating expenses	9,148	9,933	27,021	23,271
Operating loss	(7,384)	(8,019)	(22,057)	(18,052)
NON-OPERATING INCOME
Interest income, net	46	132	187	175
Other non-operating income (expense), net	(1)	(34)	17	(44)
Total non-operating income, net	45	98	204	131
Loss before income taxes	(7,339)	(7,921)	(21,853)	(17,921)
Provision for income taxes	—	—	—	—
Net loss and comprehensive loss	$(7,339)	$(7,921)	$(21,853)	$(17,921)
Net loss per share – basic and diluted	$(0.15)	$(0.17)	$(0.44)	$(1.05)
Weighted average common shares outstanding – basic and diluted	50,568,141	46,217,127	49,332,254	17,049,671

The accompanying notes are an integral part of these condensed financial statements.

CONDENSED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (UNAUDITED)

Convertible Preferred Stock · Common Stock
	Shares	Amount	Shares	Par Value	Additional Paid-in-Capital	Accumulated Deficit	Total Stockholders’ Equity
December 31, 2025	—	$—	46,865,051	$47	$168,878	$(155,665)	$13,260
Issuance of common stock upon Private Placement, net of issuance cost	—	—	2,867,089	3	13,617	—	13,620
Issuance of common stock upon exercises of stock options	—	—	106,727	—	39	—	39
Stock-based compensation	—	—	—	—	334	—	334
Net loss	—	—	—	—	—	(7,033)	(7,033)
March 31, 2026	—	$—	49,838,867	$50	$182,868	$(162,698)	$20,220
Private Placement issuance cost	—	—	—	—	(220)	—	(220)
Constructive Dividend	—	—	—	—	(12)	—	(12)
Issuance of common stock upon exercises of stock options	—	—	181,149	—	82	—	82
Issuance of common stock upon vesting of restricted stock units	—	—	12,132	—	—	—	—
Stock-based compensation	—	—	—	—	577	—	577
Net loss	—	—	—	—	—	(7,481)	(7,481)
June 30, 2026	—	$—	50,032,148	$50	$183,295	$(170,179)	$13,166
Issuance of common stock via ATM, net of issuance cost	—	—	276,446	1	1,709	—	1,710

The accompanying notes are an integral part of these condensed financial statements.

CONDENSED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (CONTINUED)

Issuance of common stock via Securities Purchase Agreement, net of issuance cost	—	—	3,163,444	3		17,835			—		17,838
Issuance of common stock upon exercises of stock options	—	—	97,858	—		43			—		43
Stock-based compensation	—	—	0	0	952			—		952
Net loss	—	—	—	—		—			(7,339)		(7,339)
September 30, 2026	—		$—	53,569,896			$54			$203,833		$(177,518)	26,369

Convertible Preferred Stock · Common Stock
	Shares	Amount	Shares	Par Value	Additional Paid-in-Capital	Accumulated Deficit	Total Stockholders’ Deficit
December 31, 2024	38,665,583	$143,625	2,090,945	$2	$838	$(130,350)	$(129,510)
Issuance of common stock upon exercises of stock options	—	—	87,549	—	34	—	34
Stock-based compensation	—	—	—	—	152	—	152
Net loss	—	—	—	—	—	(5,375)	(5,375)
March 31, 2025	38,665,583	$143,625	2,178,494	$2	$1,024	$(135,725)	$(134,699)
Issuance of common stock upon exercises of stock options	—	—	265,674	—	95	—	95
Issuance of common stock upon exercises of warrants	—	—	15,015	—	73	—	73
Stock-based compensation	—	—	—	—	170	—	170
Net loss	—	—	—	—	—	(4,625)	(4,625)
June 30, 2025	38,665,583	$143,625	2,459,183	$2	$1,362	$(140,350)	$(138,986)

The accompanying notes are an integral part of these condensed financial statements.

CONDENSED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (CONTINUED)

Conversion of all convertible preferred stock to common stock - initial public offering	(38,665,583)	(143,625)		38,665,583		39		143,586		—		143,625
Issuance of common stock in initial public offering, net of issuance costs	—	—	5,629,978		6		22,848		—		22,854
Issuance of Underwriters Warrants	—	—		—		—	519		—		519
Issuance of common stock upon promissory note repayment	—	—		7,508		—		31		—		31
Reverse stock split rounddown and cash in lieu payment	—	—		-108		—		(1)		—		(1)
Issuance of common stock upon exercises of stock options	—	—		36,757		—		14		—		14
Stock-based compensation	—	—		—		—		307		—		307
Net loss	—	—		—		—		—		(7,921)		(7,921)
September 30, 2025	—	$—		46,798,901		$47		$168,666		$(148,271)		$20,442

The accompanying notes are an integral part of these condensed financial statements.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.