Firefly's AI-powered, FDA-cleared EEG/ERP Technology is Being Deployed to Support Assessment and Treatment of PTSD and TBI in U.S. Service Members

Partnership Represents a Significant Expansion of Company's Commercial Footprint into the U.S. Government and Defense Health Sectors

KENMORE, N.Y., March 26, 2026 (GLOBE NEWSWIRE) -- Firefly Neuroscience, Inc. (NASDAQ:AIFF) ("Firefly," or the "Company"), today announced a partnership with the Department of War ("DoW") to support the assessment and treatment of active-duty U.S. service members and veterans suffering from Post-Traumatic Stress Disorder ("PTSD") and/or Traumatic Brain Injury ("TBI").

The genesis of this innovative public-private brain health partnership was initial work by the founders of Evoke Neuroscience, Inc. (acquired by Firefly in May 2025) with the U.S. Naval Medical Center Camp Lejeune Family Medicine Residency program. Specific details of the partnership and related programs remain confidential in accordance with applicable agreements.

Addressing a Multi-Billion Dollar Military Mental Health Crisis

PTSD and TBI represent two of the most significant and pervasive health challenges facing the U.S. military. The total excess economic burden of PTSD in the United States has been estimated at $232.2 billion, of which approximately $42.7 billion is attributed directly to the military population.¹ In contrast to PTSD, the incidence of TBI is higher among military than civilian populations, in part because of the physical demands of military service and the potentially dangerous activities associated with military operations and training.² According to the RAND Corporation, more than 444,300 U.S. service members were diagnosed with at least one TBI between 2000 and 2021.³

Despite the scale of this public and military health burden, objective, biomarker-driven diagnostic tools have remained largely absent from standard care — a gap that Firefly's EEG/ERP technology is intended to help address.

FDA-Cleared AI Technology Supporting DoW Programs

Firefly's FDA 510(k)-cleared, AI-powered EEG/ERP platform is being utilized across related DoW programs, providing military healthcare providers with objective, quantitative neurological data intended to support more precise diagnosis, individualized treatment planning, and measurable outcomes tracking. The platform is non-invasive, scalable across both clinical and operational environments, and designed for real-world deployment at scale. The DoW partnership represents a potentially significant channel for Firefly's commercial strategy, expanding the Company's footprint into the U.S. government and defense health sectors.

"Every U.S. service member who comes home carrying the invisible wounds of PTSD and/or TBI deserves to be truly seen — not just screened," commented Dave DeCaprio, President and Chief Operating Officer of Firefly. "This partnership reflects our core mission: to bring the most advanced, objective brain health tools to the people who need them most, so that military healthcare providers may act earlier, treat more precisely, and give people a real path forward. We are proud that Firefly's technology is being trusted to serve those who have sacrificed so much for this country."

"We believe that this ongoing strategic partnership positions us well to benefit from the significant and growing U.S. government investment in military brain health — with a validated, FDA-cleared platform," said Firefly's Chief Executive Officer, Greg Lipschitz. "Our work with U.S. service members also complements our strategic initiative to build a proprietary foundation model of the human brain by combining a rapidly growing repository of brain scan data and important access to NVIDIA GPU acceleration to power next-generation EEG/ERP processing."

Sources

¹ Davis LL, Schein J, Cloutier M, et al. "The Economic Burden of Posttraumatic Stress Disorder in the United States From a Societal Perspective." The Journal of Clinical Psychiatry, 2022.

²Haarbauer-Krupa J, et al "Epidemiology of Chronic Effects of Traumatic Brain Injury." J Neurotrauma, 2021.

³ RAND Corporation. "Improving Care for Veterans with Traumatic Brain Injury Across the Lifespan." Commissioned by Wounded Warrior Project, 2022.

About Firefly Neuroscience

Firefly (NASDAQ:AIFF) is an Artificial Intelligence ("AI") company developing innovative solutions designed to provide clinicians and researchers with unparalleled insights into brain function. Firefly's proprietary database currently consists of over 191,000 EEG/ERP brain scans, making it the world's largest known standardized EEG/ERP repository. Firefly's EEG-based, AI-driven, and FDA-510(k)-cleared brain analytics technology has the potential to revolutionize diagnostic and treatment monitoring methods for conditions such as depression, dementia, anxiety disorders, concussions, and ADHD.

Please visit www.fireflyneuro.com for more information.

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" for purposes of the federal securities laws concerning Firefly. These forward-looking statements include express or implied statements relating to Firefly's management team's expectations, hopes, beliefs, intentions, or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "will," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting Firefly will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Firefly's control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading "Risk Factors" in the reports and other filings of Firefly with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of Firefly's assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. It is not possible to predict or identify all such risks. Forward-looking statements included in this press release only speak as of the date they are made, and Firefly does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Investor & Media Contact

Stephen Kilmer

(646) 274-3580

stephen.kilmer@fireflyneuro.com

Firefly Confirms Public-Private Partnership with the Department of War