TickerFacts.

Company research / MDAI

Spectral AI, Inc. (MDAI)

Also trades as MDAIW. Every security a company lists rests on one set of financial statements, so these figures cover the whole company.

Build a valuation ↗↓ Download CSV

CIK 0001833498 · Nasdaq · Surgical & Medical Instruments & Apparatus

  • Sector Manufacturing
  • Incorporated DE
  • Fiscal year ends Dec 31

For the year ended 2025-12-31, Spectral AI, Inc. reported revenue of $19.65M. Revenue fell 33.6% from the prior annual period. Over the twelve months to 2026-06-30, revenue was $15.39M.

Key ratios (year ended 2025-12-31)

45.4%
Gross margin
-43.8%
Operating margin
-38.5%
Net margin
-33.6%
Revenue growth (YoY)

Beyond the statements

Follow the company.

Explore new filings, reported insider transactions and company relationships.

Open company research ↗

Latest selected filing: Form 4 (ownership change) · 2026-09-29

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-06-30 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Period endedTTM to
2026-06-30		2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-31
Revenue$15.39M$19.65M$29.58M$18.06M$25.37Mn/an/a
Cost of Revenue$8.79M$10.72M$16.31M$10.18M$14.53Mn/an/a
Gross Profit$6.61M$8.93M$13.27M$7.88M$10.84Mn/an/a
R&D Expensen/an/an/a$15.10M$16.50Mn/an/a
Operating Income-$11.88M-$8.60M-$6.58M-$12.98M-$2.65M-$3.42Mn/a
Net Income-$10.09M-$7.57M-$15.16M-$20.85M-$2.91M-$2.15Mn/a
EPS (Diluted)n/a-$0.29-$0.85-$1.48-$0.22n/an/a
Total Assets$19.44M$21.41M$12.10M$10.69M$18.72M$254.11M$164.9K
Total Liabilities$31.49M$27.13M$19.35M$12.40M$6.72M$21.93M$140.6K
Long-Term Debtn/a$9.25Mn/an/an/an/an/a
Shareholders' Equity-$12.05M-$5.73M-$7.25M-$1.71M$12.00M-$20.82M$24.3K
Cash & Equivalents$14.00M$15.40M$5.20M$4.79M$14.17M$769.4Kn/a
Operating Cash Flow-$12.88M-$9.92M-$9.20M-$13.24M-$1.16M-$825.6Kn/a
Share Repurchasesn/an/an/an/a$250.52M$0n/a
Shares Outstanding32.18M30.69M22.59M16.29M13.17Mn/an/a
Weighted Average Diluted Sharesn/a26.52M17.93M14.09M13.14Mn/an/a
EPS (Basic)n/a-$0.29-$0.85-$1.48-$0.22n/an/a

Price chart

Chart and quotes by TradingView. Exchange coverage and delays vary.

Open chart on TradingView