Iveda Solutions (NASDAQ: IVDA) details 2025 losses, Taiwan and customer concentration risks Iveda Solutions, Inc., now a Delaware corporation listed on Nasdaq, reports continued operating losses while positioning itself as an AI-driven smart city and IoT platform provider. For the year ended December 31, 2025, it recorded a net loss of about $3.2 million, following a $4.0 million loss in 2024, and has accumulated losses of roughly $56 million. The company depends heavily on its Taiwan subsidiary, which generated 85% of 2025 revenue and 87% of 2024 revenue, and on a small number of large customers; four customers made up 63% of 2025 revenue. Iveda offers AI video analytics (IvedaAI), IoT platforms (Cerebro), smart power solutions, smart poles, drones, health and elder-care devices, and industrial monitoring tools. As of March 15, 2026, Iveda had 11,139,740 shares of common stock outstanding and significant U.S. net operating loss carryforwards of about $40.0 million federal and $11.0 million state. The company highlights risks from ongoing losses, reliance on key personnel, geopolitical uncertainty around Taiwan, cybersecurity gaps, and potential Nasdaq listing compliance issues. Positive - None. Negative - None. Insights Ongoing losses, customer and Taiwan concentration keep risk profile elevated. Iveda Solutions remains a small, unprofitable AI/IoT player. It posted net losses of $3.2 million in 2025 and $4.0 million in 2024, with an accumulated deficit near $56 million, underscoring sustained cash burn and execution risk. Revenue is concentrated: four customers represented 63% of 2025 revenue, and its Taiwan subsidiary delivered 85% of 2025 and 87% of 2024 revenue. This ties results to a narrow client base and to Taiwan-specific economic and geopolitical conditions, including China–Taiwan tensions mentioned in the risk factors. On the upside, Iveda competes in structurally growing segments like smart cities, AI video analytics and IoT, and holds sizable tax assets