CV · CapsoVision, Inc

CapsoVision, Inc., a medical technology company, manufactures and markets endoscopic video imaging devices focused on internal imaging of the gastrointestinal system. The company offers CapsoCam Plus, a capsule endoscopy system for visualization of the small bowel mucosa in adults and children aged 2 years and above; and CapsoCam Colon for visualization of the colon and detection and measurement of polyps, as well as develops CapsoColon 3D for large intestines (colon). It also provides CapsoCloud cloud-based software-as-a-service ecosystem as an off-premises video access and download solution; CapsoView, a data access reading device for viewing capsule videos; CapsoAccess, a Capsule data access system; and CapsoRetrieve, a retrieval kit to recover the capsule using a magnetic wand, as well as capsule video reading services. The company serves gastrointestinal medical practices, clinics, and hospitals. It sells its products to distributor customers who resell products. The company was formerly known as Capso Vision Inc. and changed its name to CapsoVision, Inc. in May 2016. CapsoVision, Inc. was incorporated in 2005 and is headquartered in Saratoga, California.

Cap structure and valuation

Cap structure
SP	$7.02
SO	50.0M
Options	2.1M
Warrants	0.0M
FD SO	52.1M
MC	$365.7M

Cash	—
Total debt	—
EV	$365.7M

TTM Multiples
EV / Revenue	27.0x
EV / EBITDA	—
MC / Net Income	—
EV / FCF	—
MC / FCF	—

Ownership & coverage
Institutional	8.1%
Insiders	32.1%
# Institutions	78
Analysts	1
Consensus	—
Avg target	$10.00

Short % float	4.6%
Days to cover	7.87

MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-05-12. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-07-22 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-06-30; the float denominator can be unreliable on tiny floats.

Financial statements

	3/31/26	12/31/25	9/30/25	6/30/25
Total Revenue	2.79	3.92	3.54	3.31
Revenue YoY %	0.3%	13.5%	19.3%	16.6%
Cost of Revenue	1.46	1.96	1.62	1.50
Gross Profit	1.33	1.95	1.91	1.81
Gross Profit YoY %	(11.0%)	12.7%	15.5%	13.8%
Gross Margin %	47.6%	49.9%	54.1%	54.6%

SG&A	3.99	3.70	3.84	3.07
R&D	4.43	5.72	6.09	3.39
Operating Expense	8.42	9.42	9.93	6.46

Operating Income	(7.09)	(7.46)	(8.02)	(4.65)
Operating Income YoY %	(31.8%)	(61.1%)	(38.2%)	11.8%
Operating Margin %	(254.0%)	(190.5%)	(226.7%)	(140.3%)
EBITDA	(7.04)	(7.41)	(7.96)	(4.60)
EBITDA Margin %	(252.0%)	(189.1%)	(225.1%)	(138.6%)

Pretax Income	(7.03)	(7.37)	(7.92)	(4.62)
Tax Provision	0.00	0.02	0.00	0.00
Net Income	(7.03)	(7.39)	(7.92)	(4.62)
Net Margin %	(251.9%)	(188.7%)	(223.9%)	(139.5%)

Diluted EPS	-$0.15	$0.02	-$0.17	-$2.02
Basic EPS	-$0.15	$0.02	-$0.17	-$2.02
Diluted Avg Shares	47.5	—	46.2	2.3
Basic Avg Shares	47.5	—	46.2	2.3

	LTM	12/31/25	12/31/24
Total Revenue	13.56	13.55	11.76
Revenue YoY %	0.1%	15.3%	—
Cost of Revenue	6.55	6.38	5.38
Gross Profit	7.01	7.17	6.38
Gross Profit YoY %	(2.3%)	12.5%	—
Gross Margin %	51.7%	52.9%	54.2%

SG&A	14.60	14.38	11.17
R&D	19.64	18.31	15.12
Operating Expense	34.23	32.69	26.29

Operating Income	(27.23)	(25.52)	(19.92)
Operating Income YoY %	(6.7%)	(28.1%)	—
Operating Margin %	(200.7%)	(188.3%)	(169.4%)
EBITDA	(27.01)	(25.30)	(19.71)
EBITDA Margin %	(199.1%)	(186.7%)	(167.7%)

Pretax Income	(26.95)	(25.29)	(19.89)
Tax Provision	0.02	0.02	0.01
Net Income	(26.97)	(25.32)	(19.90)
Net Margin %	(198.9%)	(186.8%)	(169.3%)

Diluted EPS	-$2.32	-$1.03	-$9.85
Basic EPS	-$2.32	-$1.03	-$9.85
Diluted Avg Shares	47.5	24.6	2.0
Basic Avg Shares	47.5	24.6	2.0

	3/31/26	12/31/25	9/30/25	6/30/25
Receivables	1.93	2.50	1.87	1.85
Inventory	3.49	2.99	3.19	3.04
Other Current Assets	19.08	11.18	18.99	2.90
Total Current Assets	24.50	16.67	24.05	7.80

Net PPE	0.62	0.61	0.64	0.68
Operating Lease ROU	0.75	0.84	0.94	1.02
Total Assets	25.95	18.16	25.66	9.55

Accounts Payable	1.36	1.14	1.34	1.16
Current Lease Liabilities	0.43	0.41	0.39	0.38
Other Current Liabilities	3.58	2.87	2.90	2.69
Total Current Liabilities	5.36	4.43	4.63	4.22
Long-term Lease Liabilities	0.36	0.48	0.58	0.69
Total Liabilities	5.72	4.90	5.22	4.91
Mezzanine Equity	0.00	0.00	0.00	143.62

Retained Earnings	(162.70)	(155.66)	(148.27)	(140.35)
Total Equity	20.22	13.26	20.44	(138.99)

	LTM	12/31/25	12/31/24
Receivables	1.93	2.50	2.00
Inventory	3.49	2.99	2.63
Other Current Assets	19.08	11.18	10.22
Total Current Assets	24.50	16.67	14.85

Net PPE	0.62	0.61	0.72
Operating Lease ROU	0.75	0.84	1.20
Total Assets	25.95	18.16	16.80

Accounts Payable	1.36	1.14	0.75
Current Lease Liabilities	0.43	0.41	0.35
Other Current Liabilities	3.58	2.87	0.70
Total Current Liabilities	5.36	4.43	1.80
Long-term Lease Liabilities	0.36	0.48	0.89
Total Liabilities	5.72	4.90	2.69
Mezzanine Equity	0.00	0.00	143.62

Retained Earnings	(162.70)	(155.66)	(130.35)
Total Equity	20.22	13.26	(129.51)

	3/31/26	12/31/25	9/30/25	6/30/25
Net Income	(7.03)	(7.39)	(7.92)	(4.62)
D&A	0.06	0.06	0.05	0.06
Stock-Based Comp	0.33	0.20	0.31	0.17
Δ Working Cap & Other	0.58	(0.54)	1.89	(0.13)
Operating Cash Flow	(6.07)	(7.69)	(5.67)	(4.53)

CapEx	(0.05)	(0.01)	(0.01)	(0.03)
Investing Cash Flow	(0.05)	(0.01)	(0.01)	(0.03)

Other Financing	13.95	—	22.39	1.17
Financing Cash Flow	13.95	0.01	22.39	1.17

Free Cash Flow	(6.11)	(7.69)	(5.68)	(4.56)

	LTM	12/31/25	12/31/24
Net Income	(26.97)	(25.32)	(19.90)
D&A	0.22	0.22	0.21
Stock-Based Comp	1.01	0.83	0.16
Δ Working Cap & Other	1.80	1.41	(0.56)
Operating Cash Flow	(23.94)	(22.86)	(20.09)

CapEx	(0.10)	(0.09)	(0.15)
Investing Cash Flow	(0.10)	(0.09)	(0.15)

Other Financing	37.52	23.60	15.07
Financing Cash Flow	37.52	23.60	15.07

Free Cash Flow	(24.04)	(22.95)	(20.24)

	3/31/26	12/31/25	9/30/25	6/30/25
Current Ratio	4.57	3.77	5.19	1.85
Quick Ratio	3.92	3.09	4.50	1.13
Debt / Equity	0.28	0.37	0.26	-0.04
EBITDA Margin %	(252.0%)	(189.1%)	(225.1%)	(138.6%)
Working Capital	19.14	12.24	19.41	3.58
Net Debt	—	—	—	—
ROE %	(34.8%)	(55.8%)	(38.7%)	3.3%
ROA %	(27.1%)	(40.7%)	(30.9%)	(48.4%)

	LTM	12/31/25	12/31/24
Current Ratio	4.57	3.77	8.24
Quick Ratio	3.92	3.09	6.78
Debt / Equity	0.28	0.37	-0.02
EBITDA Margin %	(199.1%)	(186.7%)	(167.7%)
Working Capital	19.14	12.24	13.05
Net Debt	—	—	—
ROE %	(133.4%)	(190.9%)	15.4%
ROA %	(104.0%)	(139.4%)	(118.4%)

Insider activity (last 2 years)

Date Filed	Reporter	Relationship	Trans. Date	Code	Shares	Price	Total Value
2026-07-21	HARARI ELIYAHOU ET AL	10% Owner	2026-07-17	P	61,068	$6.73	$410,988
2026-07-10	HARARI ELIYAHOU ET AL	10% Owner	2026-07-08	P	81,300	$6.09	$495,117
2026-07-07	HARARI ELIYAHOU ET AL	10% Owner	2026-06-26	P	13,850	$7.35	$101,811
2026-07-02	Shields David Stanley	Director	2026-07-01	A	1,710	—	$0
2026-07-01	Imperial Joanne Carol	Director	2026-06-30	M	2,022	$7.58	$15,327
2026-07-01	Imperial Joanne Carol	Director	2026-06-30	M	(2,022)	—	$-0
2026-07-01	Tsai Chen Lung	Director	2026-06-30	M	2,022	$7.58	$15,327
2026-07-01	Tsai Chen Lung	Director	2026-06-30	M	(2,022)	—	$-0
2026-07-01	Kuo Hui Ying	Director	2026-06-30	M	2,022	$7.58	$15,327
2026-07-01	Kuo Hui Ying	Director	2026-06-30	M	(2,022)	—	$-0
2026-07-01	King Wen-Herng Henry	Director	2026-06-30	M	2,022	$7.58	$15,327
2026-07-01	King Wen-Herng Henry	Director	2026-06-30	M	(2,022)	—	$-0
2026-07-01	Harari Michele	Director	2026-06-30	M	2,022	$7.58	$15,327
2026-07-01	Harari Michele	Director	2026-06-30	M	(2,022)	—	$-0
2026-07-01	GOUW JULIA S	Director	2026-06-30	M	2,022	$7.58	$15,327
2026-07-01	GOUW JULIA S	Director	2026-06-30	M	(2,022)	—	$-0
2026-07-01	Imperial Joanne Carol	Director	2026-06-08	S	(1,200)	$7.16	-$8,587
2026-06-03	Wang Kang-Huai	Director, Officer (See Remarks)	2026-06-01	A	358,344	—	$0
2026-06-03	Garcia David Michael	Officer (Sr. VP of Finance)	2026-06-01	A	92,212	—	$0
2026-06-03	Atkinson Douglas Patrick	Officer (Head of Global Sales)	2026-06-01	A	158,078	—	$0
2026-05-06	Atkinson Douglas Patrick	Officer (Head of Global Sales)	2026-05-05	M	34,786	$0.57	$19,692
2026-05-06	Atkinson Douglas Patrick	Officer (Head of Global Sales)	2026-05-05	M	(34,786)	—	$-0
2026-05-06	Atkinson Douglas Patrick	Officer (Head of Global Sales)	2026-05-04	M	36,036	$0.29	$10,317
2026-05-06	Atkinson Douglas Patrick	Officer (Head of Global Sales)	2026-05-04	M	30,030	$0.37	$11,000
2026-05-06	Atkinson Douglas Patrick	Officer (Head of Global Sales)	2026-05-04	M	6,505	$0.57	$3,682
2026-05-06	Atkinson Douglas Patrick	Officer (Head of Global Sales)	2026-05-04	M	(36,036)	—	$-0
2026-05-06	Atkinson Douglas Patrick	Officer (Head of Global Sales)	2026-05-04	M	(30,030)	—	$-0
2026-05-06	Atkinson Douglas Patrick	Officer (Head of Global Sales)	2026-05-04	M	(6,505)	—	$-0
2026-03-23	Tsai Chen Lung	Director	2026-03-19	A	4,045	—	$0
2026-03-23	Kuo Hui Ying	Director	2026-03-19	A	4,045	—	$0
2026-03-23	King Wen-Herng Henry	Director	2026-03-19	A	4,045	—	$0
2026-03-23	Imperial Joanne Carol	Director	2026-03-19	A	4,045	—	$0
2026-03-23	Harari Michele	Director	2026-03-19	A	4,045	—	$0
2026-03-23	GOUW JULIA S	Director	2026-03-19	A	4,045	—	$0
2026-02-06	Tsai Chen Lung	Director	2025-07-03	P	20	$4.17	$83
2025-12-31	Harari Michele	Director	2025-12-31	M	2,887	$10.69	$30,862
2025-12-31	Harari Michele	Director	2025-12-31	M	(2,887)	—	$-0
2025-12-31	GOUW JULIA S	Director	2025-12-31	M	2,887	$10.69	$30,862
2025-12-31	GOUW JULIA S	Director	2025-12-31	M	(2,887)	—	$-0
2025-12-31	Imperial Joanne Carol	Director	2025-12-31	M	2,887	$10.69	$30,862
2025-12-31	Imperial Joanne Carol	Director	2025-12-31	M	(2,887)	—	$-0
2025-12-31	King Wen-Herng Henry	Director	2025-12-31	M	2,887	$10.69	$30,862
2025-12-31	King Wen-Herng Henry	Director	2025-12-31	M	(2,887)	—	$-0
2025-12-31	Kuo Hui Ying	Director	2025-12-31	M	2,887	$10.69	$30,862
2025-12-31	Kuo Hui Ying	Director	2025-12-31	M	(2,887)	—	$-0
2025-12-31	Tsai Chen Lung	Director	2025-12-31	M	2,887	$10.69	$30,862
2025-12-31	Tsai Chen Lung	Director	2025-12-31	M	(2,887)	—	$-0
2025-11-03	Garcia David Michael	Officer (Sr. VP of Finance)	2025-11-03	A	165,000	—	$0
2025-09-17	Tsai Chen Lung	Director	2025-09-15	A	2,887	—	$0
2025-09-17	Kuo Hui Ying	Director	2025-09-15	A	2,887	—	$0
2025-09-17	King Wen-Herng Henry	Director	2025-09-15	A	2,887	—	$0
2025-09-17	Imperial Joanne Carol	Director	2025-09-15	A	2,887	—	$0
2025-09-17	GOUW JULIA S	Director	2025-09-15	A	2,887	—	$0
2025-09-17	Harari Michele	Director	2025-09-15	A	2,887	—	$0
2025-08-22	Petersen Rebecca Ann	Officer (Director of Clinical Affairs)	2025-08-18	M	24,834	$0.37	$9,097
2025-08-22	Petersen Rebecca Ann	Officer (Director of Clinical Affairs)	2025-08-18	M	(7,507)	—	$-0
2025-08-22	Petersen Rebecca Ann	Officer (Director of Clinical Affairs)	2025-08-18	M	(17,327)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	3,186,904	—	$0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	517,759	—	$0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	517,759	—	$0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(222,222)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(934,588)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(434,782)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(434,783)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(2,000,000)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(740,741)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(1,206,898)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(4,638,377)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(1,724,139)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(1,724,139)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	3,186,904	—	$0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	517,759	—	$0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	517,759	—	$0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(222,222)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(934,588)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(434,782)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(434,783)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(2,000,000)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(740,741)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(1,206,898)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(4,638,377)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(1,724,139)	—	$-0
2025-07-08	HARARI ELIYAHOU ET AL	10% Owner	2025-07-03	C	(1,724,139)	—	$-0
2025-07-07	King Wen-Herng Henry	Director	2025-07-03	C	20,710	—	$0
2025-07-07	King Wen-Herng Henry	Director	2025-07-03	C	(68,966)	—	$-0
2025-07-07	Kuo Hui Ying	Director	2025-07-03	C	10,354	—	$0
2025-07-07	Kuo Hui Ying	Director	2025-07-03	C	(34,482)	—	$-0
2025-07-07	Tsai Chen Lung	Director	2025-07-03	C	91,432	—	$0
2025-07-07	Tsai Chen Lung	Director	2025-07-03	C	(71,429)	—	$-0
2025-07-07	Tsai Chen Lung	Director	2025-07-03	C	(55,555)	—	$-0
2025-07-07	Tsai Chen Lung	Director	2025-07-03	C	(86,956)	—	$-0
2025-07-07	Tsai Chen Lung	Director	2025-07-03	C	(90,534)	—	$-0
2025-07-07	Wang Kang-Huai	Director, Officer (See Remarks)	2025-07-03	C	446,896	—	$0
2025-07-07	Wang Kang-Huai	Director, Officer (See Remarks)	2025-07-03	C	(1,407,407)	—	$-0
2025-07-07	Wang Kang-Huai	Director, Officer (See Remarks)	2025-07-03	C	(33,707)	—	$-0
2025-07-07	Wang Kang-Huai	Director, Officer (See Remarks)	2025-07-03	C	(11,111)	—	$-0
2025-07-07	Wang Kang-Huai	Director, Officer (See Remarks)	2025-07-03	C	(35,947)	—	$-0