Spectral AI, Inc. MDAI

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical and Medical Instrument Manufacturing derived Nasdaq

Last close 1.44 2026-10-23
Market cap $46.3M 2026-06-30 share count
52-week range 1.18 - 2.97

Valuation FY2025 figures against the last close

P/S2.4x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.29

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
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.) 26.5M17.9M14.1M13.1M——

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
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 FY2025FY2024FY2023FY2022FY2021FY2020
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.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -40M -20M 0 20M 40M Net income, FY2021: -2.1M Revenue, FY2022: 25.4M Gross profit, FY2022: 10.8M Net income, FY2022: -2.9M Revenue, FY2023: 18.1M Gross profit, FY2023: 7.9M Net income, FY2023: -20.9M Revenue, FY2024: 29.6M Gross profit, FY2024: 13.3M Net income, FY2024: -15.2M Revenue, FY2025: 19.6M Gross profit, FY2025: 8.9M Net income, FY2025: -7.6M FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — — $25.4M $18.1M $29.6M $19.6M
Gross profit — — $10.8M $7.9M $13.3M $8.9M
Net income — -$2.1M -$2.9M -$20.9M -$15.2M -$7.6M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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