Exhibit 99.2
FORESIGHT AUTONOMOUS HOLDINGS LTD.
INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
As
of
U.S. DOLLARS IN THOUSANDS
(Except share and per share data)
(UNAUDITED)
FORESIGHT AUTONOMOUS HOLDINGS LTD.
INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
As of June 30, 2026
U.S. DOLLARS IN THOUSANDS
(Except share and per share data)
(UNAUDITED)
INDEX
FORESIGHT AUTONOMOUS HOLDINGS LTD.
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
U.S. dollars in thousands
(Except share data)
| June 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| Unaudited | Audited | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | $ | ||||||
| Restricted cash | ||||||||
| Marketable equity securities | ||||||||
| Trade receivables | ||||||||
| Other receivables | ||||||||
| Total current assets | ||||||||
| Non-current assets: | ||||||||
| Right of use asset | ||||||||
| Fixed assets, net | ||||||||
| Total non-current assets | ||||||||
| Total assets | $ | $ | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Trade payables | $ | $ | ||||||
| Operating lease liability | ||||||||
| Other accounts payable | ||||||||
| Total current liabilities | ||||||||
| Operating lease liability | ||||||||
| Total liabilities | ||||||||
| Shareholders’ equity: | ||||||||
| Ordinary shares, par value per share (“Ordinary
Shares”) Authorized shares. Issued and outstanding: shares as of June 30, 2026, and as of December 31, 2025. | ||||||||
| Additional paid-in capital | ||||||||
| Accumulated deficit | ( | ) | ( | ) | ||||
| Total Foresight Autonomous Holdings Ltd. shareholders’ equity | ||||||||
| Non-controlling interest | ( | ) | ( | ) | ||||
| Total equity | ||||||||
| Total liabilities and shareholders’ equity | $ | $ | ||||||
The accompanying notes are an integral part of the consolidated financial statements.
| 2 |
FORESIGHT AUTONOMOUS HOLDINGS LTD.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED)
U.S. dollars in thousands
(Except share and per share data)
| Six months ended | Three months ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Unaudited | Unaudited | |||||||||||||||
| Revenues | $ | $ | $ | $ | ||||||||||||
| Cost of revenues | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
| Gross profit | ||||||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development, net | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
| Sales and marketing | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
| General and administrative | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
| Operating loss | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
| Financing income, net | ||||||||||||||||
| Net loss | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | ||||
| Attributable to non-controlling interest | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
| Attributable to equity holders | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
| Basic and diluted net loss per share from continuing operations | $ | ) | $ | ) | $ | ) | $ | ) | ||||||||
| Weighted average number of shares outstanding used in computing basic and diluted net loss per share | ||||||||||||||||
The accompanying notes are an integral part of the consolidated financial statements.
| 3 |
FORESIGHT AUTONOMOUS HOLDINGS LTD.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
U.S. dollars in thousands
(Except share data)
| Ordinary Shares | Additional paid-in | Accumulated | Total Foresight Autonomous Holdings Ltd. Shareholders’ | Non-controlling | Total shareholders’ | |||||||||||||||||||||||
| Number | Amount | capital | deficit | equity | interest | equity | ||||||||||||||||||||||
| Balance as of January 1, 2025 | ( | ) | ||||||||||||||||||||||||||
| Issuance of Ordinary Shares, net of issuance costs (*) | ||||||||||||||||||||||||||||
| Issuance of warrants, net of issuance costs (*) | ||||||||||||||||||||||||||||
| Modification of warrants previously issued in connection with fundraising (See note 10C) | — | |||||||||||||||||||||||||||
| Transactions with shareholder | — | |||||||||||||||||||||||||||
| Issuance of shares in subsidiary | — | ( | ) | |||||||||||||||||||||||||
| Share-based payment | ||||||||||||||||||||||||||||
| Loss for the year | — | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||||||||
| Balance as of December 31, 2025 | ( | ) | ( | ) | ||||||||||||||||||||||||
| Issuance of Ordinary Shares, net of issuance costs (*) | ||||||||||||||||||||||||||||
| Receipts on account of Shares | — | |||||||||||||||||||||||||||
| Issuance of warrants, net of issuance costs (*) | ||||||||||||||||||||||||||||
| Share-based payment | ||||||||||||||||||||||||||||
| Loss for the period | — | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||||||||
| Balance as of June 30, 2026 )Unaudited) | ( | ) | ( | ) | ||||||||||||||||||||||||
| (*) |
The accompanying notes are an integral part of the consolidated financial statements.
| 4 |
FORESIGHT AUTONOMOUS HOLDINGS LTD.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
U.S. dollars in thousands
| Six months ended | Three months ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Unaudited | Unaudited | |||||||||||||||
| Cash flows from operating activities: | ||||||||||||||||
| Net loss for the period | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | ||||
| Adjustments to reconcile loss to net cash provided by operating activities | ||||||||||||||||
| Total net cash used in operating activities | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | ||||
| Cash flows from investing activities: | ||||||||||||||||
| Purchase of fixed assets | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
| Total net cash used in investing activities | ( | )$ | $ | ( | ) | ( | )$ | $ | ( | ) | ||||||
| Cash flows from financing activities: | ||||||||||||||||
| Issuance of Ordinary Shares and warrants, net of issuance expenses | ||||||||||||||||
| Total net cash provided by financing activities | $ | $ | $ | $ | ||||||||||||
| Effect of exchange rate changes on cash and cash equivalents | ||||||||||||||||
| Increase (decrease) in cash, cash equivalents and restricted cash | ( | ) | ( | ) | ||||||||||||
| Cash, cash equivalents and restricted cash at the beginning of the period | $ | $ | $ | $ | ||||||||||||
| Cash, cash equivalents and restricted cash at the end of the period | $ | $ | $ | $ | ||||||||||||
The accompanying notes are an integral part of the consolidated financial statements.
| 5 |
FORESIGHT AUTONOMOUS HOLDINGS LTD.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
U.S. dollars in thousands
| Six months ended | Three months ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Unaudited | Unaudited | |||||||||||||||
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||||||||||||
| Share-based payment | ||||||||||||||||
| Depreciation | ||||||||||||||||
| Revaluation of marketable equity securities | ||||||||||||||||
| Exchange rate changes on cash and cash equivalents | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
| Changes in assets and liabilities: | ||||||||||||||||
| Decrease in trade receivables | ||||||||||||||||
| Decrease in other receivables | ||||||||||||||||
| Decrease in trade payables | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
| Changes in operating lease liability | ||||||||||||||||
| Increase (decrease) in other accounts payable | ( | ) | ( | ) | ||||||||||||
| Adjustments to reconcile loss to net cash provided by operating activities | $ | $ | $ | $ | ||||||||||||
| Six months ended | Three months ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Supplemental cash flow information | Unaudited | Unaudited | ||||||||||||||
| Operating leases | ||||||||||||||||
| Cash payments for operating leases | $ | $ | $ | $ | ||||||||||||
| 6 |
FORESIGHT AUTONOMOUS HOLDINGS LTD.
U.S. dollars in thousands
(Except share and per share data)
Notes to the Interim Condensed Consolidated Financial Statements (Unaudited)
NOTE 1 - GENERAL
| A. | Reporting Entity |
Foresight Autonomous Holdings Ltd. (the “Company”) was incorporated in Israel in 1977 and became public in Israel in 1987. It changed its name in 2010 and again, following the acquisition of Foresight Automotive Ltd. (“Foresight Ltd.”) in January 2016, to its current name. The Company’s Ordinary Shares are traded on the Tel Aviv Stock Exchange, and its American Depository Shares (“ADSs”) (90:1 ratio) have been listed on the Nasdaq Capital Market since June 2017. Foresight Ltd. was established in July 2015 by Magna B.S.P. Ltd. (“Magna”) to transfer all of Magna’s three-dimensional (3D) computer vision research and development technology and business in the area of Advanced Driver Assistance Systems to a separate entity. As part of the reorganization, Magna transferred to Foresight Ltd. all the intellectual assets comprised mostly of know-how, software and algorithms developed by Magna. Eye-Net Mobile Ltd (“Eye-Net”) was established in May 2018 by Foresight Ltd. in order to develop cellular based, beyond-line-of-sight, accident prevention solutions. On September 15, 2022, Foresight Ltd. transferred the shares of Eye-Net to the Company, free of charge and in accordance with the provisions of Section 104 C of the Israeli Income Tax Ordinance [New Version] 5721-1961, so that after the transfer of the shares, the Company directly held all of the shares of Eye-Net. On January 5, 2022, the Company established Foresight Changzhou Automotive Ltd., (“Foresight Changzhou”), a wholly owned subsidiary of Foresight Ltd., in Jiangsu Province, China. Foresight Changzhou was established in cooperation with the China-Israel Changzhou Innovation Park, a bi-national governmental initiative that provides a unique platform for Israeli industrial companies seeking to enter the Chinese market. The Company and its subsidiaries - Foresight Ltd., Eye-Net and Foresight Changzhou - are collectively referred to as the “Company” or the “Group.” The Company is a technology company engaged in development of advanced 3-dimensional (3D) perception systems and cellular-based applications. Through its wholly owned subsidiaries, Foresight Ltd., Foresight Changzhou and Eye-Net, the Company develops both “in-line-of-sight” vision solutions and “beyond-line-of-sight” accident-prevention solutions. The Company’s 3D perception systems include modules of automatic calibration and dense 3D point cloud that can be applied to diverse markets such as automotive, defense, rail, autonomous vehicles, drones and heavy industrial equipment. Eye-Net’s cellular-based solution suite provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge artificial intelligence technology and advanced analytics. The Group activities are subject to significant risks and uncertainties, including failing to secure additional funding to operationalize its technology before competitors develop similar technology. In addition, the Group is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements and limited operating history.
| B. | Going Concern |
To date, the Company has not generated significant revenues from its activities and has incurred substantial operating losses. Management expects the Company to continue to generate substantial operating losses and to continue to fund its operations primarily through the utilization of its current financial resources, sales of its products, grants and subsidies and through additional raises of capital.
Such conditions raise substantial doubts about the Company’s ability to continue as a going concern. Management’s plan includes raising funds from existing shareholders and/or outside potential investors. However, there is no assurance such funding will be available to the Company or that it will be obtained on terms favorable to the Company or will provide the Company with sufficient funds to successfully complete the development of, and to commercialize, its products. These financial statements do not include any adjustments relating to the recoverability and classification of assets, carrying amounts or the amount and classification of liabilities that may be required should the Company be unable to continue as a going concern.
| 7 |
FORESIGHT AUTONOMOUS HOLDINGS LTD.
U.S. dollars in thousands
(Except share and per share data)
Notes to the Interim Condensed Consolidated Financial Statements (Unaudited)
NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
| A. | Unaudited Interim Financial Statements |
The accompanying unaudited interim condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of the management, all adjustments considered necessary for a fair presentation have been included (consisting only of normal recurring adjustments except as otherwise discussed). For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 20-F for the year ended December 31, 2025.
The results of operations for the six and three months ended June 30, 2026, are not necessarily indicative of the results that may be expected for the year ending December 31, 2026.
| B. | Significant Accounting Policies |
The significant accounting policies followed in the preparation of these unaudited interim condensed consolidated financial statements are identical to those applied in the preparation of the latest annual financial statements.
| C. | Use of estimates |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
NOTE 3 - SEGMENT REPORTING
Accounting
Standards Codification 280, “Segment Reporting,” establishes standards for reporting information about operating segments.
Operating segments are defined as components of an enterprise for which separate financial information is available and is evaluated
regularly by the Company’s Chief Executive Officer, who is the chief operating decision maker (“CODM”). The CODM reviews
the Company’s consolidated statements of operations for purposes of allocating resources and assessing financial performance and
makes resource allocation decisions based primarily on net loss. The Company has identified
| A. | Revenues by geographic region |
The following table sets forth reporting revenue information by geographic region:
| Six months ended | Three months ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Unaudited | Unaudited | |||||||||||||||
| Israel | ||||||||||||||||
| Japan | ||||||||||||||||
| USA | ||||||||||||||||
| Other (*) | ||||||||||||||||
| (*) |
| 8 |
FORESIGHT AUTONOMOUS HOLDINGS LTD.
U.S. dollars in thousands
(Except share and per share data)
Notes to the Interim Condensed Consolidated Financial Statements (Unaudited)
| B. | Revenues by main customers |
The following table is a summary of the distribution of revenues by main customers:
| Six months ended | Three months ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Unaudited | Unaudited | |||||||||||||||
| Customer A | ||||||||||||||||
| Customer B | ||||||||||||||||
| Customer C | ||||||||||||||||
NOTE 4 - MATERIAL EVENTS DURING THE REPORTING PERIOD
| A. | As of the date of this report, during 2026, the Company raised a gross amount of $ through the sale of ADSs ( Ordinary Shares) pursuant to its sales agreement with A.G.P/Alliance Global Partners, as sales agent, dated June 14, 2024, at an average price of $ per ADS. After deducting issuance costs, the Company raised a net amount of $ pursuant to the sales agreement. | |
| B. |
NOTE 5 - SUBSEQUENT EVENTS
| A. | On July 23, 2026, the Company’s shareholders did not approve the previously announced strategic investment transaction with VisionWave Holdings, Inc. As a result, the transaction was not completed. No accounting impact was recognized in the Company’s consolidated financial statements for the six months ended June 30, 2026 in connection with this transaction. | |
| B. | On July 23, 2026, the Company’s
shareholders approved the grant of restricted share units (“RSUs”) under the Company’s 2024 Share Incentive Plan
to certain members of the Company’s Board of Directors and its Chief Executive Officer. The approved grants consist of
RSUs ( |
| 9 |