Spectral AI, Inc. MDAI
Last close
1.57
2026-09-04
Market cap
$50.5M
2026-06-30 share count
52-week range
1.18 - 2.97
Valuation FY2025 figures against the last close
P/S2.6x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.29
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $19.6M | $29.6M | $18.1M | $25.4M | — | — |
| Cost of revenue | $10.7M | $16.3M | $10.2M | $14.5M | — | — |
| Gross profit | $8.9M | $13.3M | $7.9M | $10.8M | — | — |
| R&D | — | — | $15.1M | $16.5M | — | — |
| SG&A | $17.5M | $19.9M | $20.9M | $13.5M | $3.4M | — |
| Total operating expenses | $17.5M | $19.9M | — | — | — | — |
| Operating income | -$8.6M | -$6.6M | -$13.0M | -$2.6M | -$3.4M | — |
| Interest expense | $886.0K | $14.0K | — | $12.9M | $1.3M | — |
| Pre-tax income | -$7.6M | -$15.0M | -$20.8M | -$2.8M | -$2.1M | — |
| Income tax | $11.0K | $114.0K | $11.0K | $106.0K | $0 | — |
| Net income | -$7.6M | -$15.2M | -$20.9M | -$2.9M | -$2.1M | — |
| EPS, basic | -0.29 | -0.85 | -1.48 | -0.22 | — | — |
| EPS, diluted | -0.29 | -0.85 | -1.48 | -0.22 | — | — |
| Shares, diluted (wtd. avg.) | $26.5M | $17.9M | $14.1M | $13.1M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $15.4M | $5.2M | $4.8M | $14.2M | $16.1M | — |
| Receivables | $1.3M | $2.5M | $2.3M | $2.3M | — | — |
| Inventory | $838.0K | $425.0K | $230.0K | — | — | — |
| Total current assets | $19.5M | $10.1M | $9.9M | $17.7M | $1.1M | — |
| Property, plant and equipment | $258.0K | $2.0K | $12.0K | $21.0K | — | — |
| Total assets | $21.4M | $12.1M | $10.7M | $18.7M | $254.1M | $164.9K |
| Accounts payable | $3.0M | $4.0M | $2.7M | $2.8M | — | — |
| Total current liabilities | $20.6M | $17.6M | $12.4M | $6.4M | $2.9M | $140.6K |
| Long-term debt | $5.5M | — | — | — | — | — |
| Total liabilities | $27.1M | $19.3M | $12.4M | $6.7M | $21.9M | $140.6K |
| Retained earnings | -$55.8M | -$48.2M | -$32.8M | -$11.9M | -$20.8M | -$675 |
| Total equity | -$5.7M | -$7.3M | -$2.1M | $12.0M | $13.8M | $24.3K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$9.9M | -$9.2M | -$13.2M | -$1.2M | -$825.6K | — |
| Depreciation and amortisation | $71.0K | $10.0K | $9.0K | $11.0K | — | — |
| Stock-based compensation | $1.1M | $1.0M | $1.2M | $1.2M | — | — |
| Investing cash flow | — | — | — | $251.6M | -$253.0M | — |
| Financing cash flow | $20.1M | $9.6M | $3.8M | -$785.0K | $254.6M | — |
| Buybacks | — | — | — | $250.5M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-033808.
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