MDAI

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Spectral AI, Inc.

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Key Metrics

Previous Close: $1.62
52-Week Range: $1.18 – $2.97
Market Cap: $50.53M
P/E (TTM): —
EPS (TTM): -0.32
Dividend Yield: —

Advanced Metrics

Price/Book: —
PEG Ratio: —
Return on Equity: —
Return on Assets: -41.89%
Gross Margin: 42.92%
Operating Margin: -122.70%
Profit Margin: -65.54%
Current Ratio: 0.90
Debt/Equity: —
Total Debt: $16.26M
Free Cash Flow: $-6.55M
Revenue Growth: -30.40%
Earnings Growth: —
Enterprise Value: $52.97M

MDAI Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$25.37M	$18.06M	$29.58M	$19.65M
Cost of Revenue	$14.53M	$10.18M	$16.31M	$10.72M
Gross Profit	$10.84M	$7.88M	$13.27M	$8.93M
Selling, General & Admin	$13.48M	$20.86M	$19.86M	$17.53M
Operating Expenses	$13.48M	$20.86M	$19.86M	$17.53M
Operating Income	-$2.65M	-$12.98M	-$6.58M	-$8.60M
EBITDA	-$2.08M	-$20.12M	-$11.49M	-$4.53M
Pretax Income	-$2.81M	-$20.84M	-$15.04M	-$7.56M
Income Tax	$106.00K	$11.00K	$114.00K	$11.00K
Net Income	-$2.91M	-$20.85M	-$15.16M	-$7.57M
Diluted EPS	-0.19	-1.48	-0.85	-0.29
Diluted Shares	15.69M	14.09M	17.93M	26.52M

MDAI Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$14.17M	$4.79M	$5.16M	$15.39M
Receivables	$2.91M	$2.35M	$2.50M	$1.27M
Inventory	$0.00	$230.00K	$425.00K	$838.00K
Current Assets	$17.69M	$9.90M	$10.12M	$19.45M
Total Assets	$18.72M	$10.69M	$12.10M	$21.41M
Current Liabilities	$6.37M	$12.40M	$17.64M	$20.63M
Long-Term Debt	—	—	—	$5.54M
Total Debt	$1.20M	$1.29M	$4.69M	$10.09M
Total Liabilities	$6.72M	$12.40M	$19.35M	$27.13M
Retained Earnings	-$11.93M	-$32.79M	-$48.23M	-$55.80M
Shareholders' Equity	$12.00M	-$1.71M	-$7.25M	-$5.73M
Working Capital	$11.31M	-$2.50M	-$7.52M	-$1.17M

MDAI Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$1.16M	-$13.24M	-$9.20M	-$9.92M
Free Cash Flow	-$1.16M	-$13.24M	-$9.20M	-$9.92M
Depreciation & Amortisation	$568.00K	$722.00K	$588.00K	$635.00K
Stock-Based Compensation	$1.16M	$1.24M	$1.03M	$1.11M
Investing Cash Flow	$0.00	—	—	—
Financing Cash Flow	-$785.00K	$3.84M	$9.57M	$20.12M
Net Change in Cash	-$1.95M	-$9.40M	$376.00K	$10.20M

MDAI Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$6.71M	$5.07M	$3.79M	$4.09M	$3.99M
Cost of Revenue	$3.54M	$2.77M	$2.17M	$2.24M	$1.96M
Gross Profit	$3.17M	$2.29M	$1.62M	$1.85M	$2.03M
Selling, General & Admin	$4.06M	$4.41M	$4.96M	$4.09M	$4.00M
Operating Expenses	$4.06M	$4.41M	$4.96M	$4.09M	$4.00M
Operating Income	-$896.00K	-$2.12M	-$3.34M	-$2.24M	-$1.97M
EBITDA	$3.13M	-$1.97M	-$2.92M	$2.11M	-$2.81M
Pretax Income	$2.97M	-$7.99M	-$3.55M	$1.01M	-$3.42M
Income Tax	$71.00K	-$19.00K	$2.00K	-$43.00K	-$10.00K
Net Income	$2.90M	-$7.97M	-$3.55M	$1.05M	-$3.41M
Diluted EPS	0.11	-0.31	-0.13	0.02	-0.11
Diluted Shares	24.03M	25.42M	26.32M	30.39M	31.76M

MDAI Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$14.06M	$10.52M	$10.49M	$15.39M	$11.65M
Receivables	$2.10M	$1.47M	$990.00K	$1.27M	$1.19M
Inventory	$437.00K	$462.00K	$454.00K	$838.00K	$831.00K
Current Assets	$18.73M	$14.00M	$13.46M	$19.45M	$15.99M
Total Assets	$20.72M	$16.01M	$15.30M	$21.41M	$17.73M
Current Liabilities	$13.31M	$16.19M	$15.77M	$20.63M	$21.27M
Long-Term Debt	$7.51M	$7.63M	$6.58M	$5.54M	$4.50M
Total Debt	$9.75M	$9.65M	$9.66M	$10.09M	$9.94M
Total Liabilities	$22.35M	$25.16M	$23.50M	$27.13M	$26.54M
Retained Earnings	-$45.33M	-$53.30M	-$56.85M	-$55.80M	-$59.21M
Shareholders' Equity	-$1.63M	-$9.15M	-$8.20M	-$5.73M	-$8.81M
Working Capital	$5.42M	-$2.19M	-$2.30M	-$1.17M	-$5.29M

MDAI Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$1.50M	-$3.36M	-$2.50M	-$2.55M	-$3.73M
Free Cash Flow	-$1.50M	-$3.36M	-$2.50M	-$2.55M	-$3.73M
Depreciation & Amortisation	$143.00K	$149.00K	$171.00K	$172.00K	$177.00K
Stock-Based Compensation	$200.00K	$411.00K	$261.00K	$243.00K	$183.00K
Financing Cash Flow	$10.39M	-$207.00K	$2.48M	$7.45M	-$1.00K
Net Change in Cash	$8.89M	-$3.57M	-$16.00K	$4.90M	-$3.73M

Market Snapshot

About

Spectral AI, Inc. develops artificial intelligence-powered medical imaging technology for burn and wound care diagnostics, helping clinicians assess tissue viability and healing potential.