Spectral AI, Inc.

Spectral AI, Inc.

MDAI
Spectral AI, Inc.US flagNASDAQ Capital Market
2.06
USD
+0.03
- -
65.56MMarket Cap
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.97
1.62
1.28
1.65
0.74
0.6
Basic EPS, GAAP
-0.33
-0.19
-1.48
-0.85
-0.29
-0.49
Free Cash Flow per Basic Share
-0.19
-0.07
-0.94
-0.51
-0.37
-0.43
Dividend per Share
- -
- -
- -
- -
- -
- -
Book Value per Share
-0.57
-0.76
-2.33
-2.69
-2.1
-2.08
Tangible Book Value per Share
0.88
0.76
-0.12
-0.4
-0.22
-0.31
Basic Weighted Avg Shares
16
16
14
18
27
28
Sales/Revenue/Turnover
15
25
18
30
20
17
Operating Margin (%)
-27.42
-10.43
-71.91
-22.25
-43.78
-57.15
Depreciation Expense
- -
1
1
1
1
1
Net Income, GAAP
-4
-3
-21
-15
-8
-14
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
Profit Margin (%)
-26.17
-11.48
-115.5
-51.24
-38.53
-81.97
Working Capital
14
11
-2
-8
-1
-5
LT Debt
- -
- -
- -
2
7
5
Total Equity
14
12
-2
-7
-6
-9
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
2
4
5
LT Borrowings
7
6
5
LT Finance Leases
1
1
1
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
27
31
32
Market Capitalization
53
37
42

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
13
19
16
Cash, Cash Equivalents & STI
10
15
12
Accounts Receivable, Net
1
1
1
Inventories
- -
1
1
Total Current Liabilities
16
21
21
Payables & Accruals
5
5
4
ST Debt
2
4
5
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
-21.02%
Free Cash Flow
- -
- -
7.84%
Net Income, GAAP
- -
- -
-50.05%
Sales/Revenue/Turnover
- -
- -
-33.57%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6
7
8
8
30
2025
7
5
4
4
20
2026
4
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.19
-0.16
-0.08
-0.41
-0.85
2025
0.13
-0.31
-0.13
0.03
-0.29
2026
-0.11
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Vincent Stanley Capone
Full Time Employees
78
Sector
Healthcare
Industry
Medical - Devices
Address
2515 McKinney Avenue Dallas TX United States of America 75201
IPO Date
Apr 6, 2021
Business
Spectral AI, Inc. Spectral AI, Inc. (MDAI) is a predictive artificial intelligence company focused on medical diagnostics for wound care, including burns and diabetic foot ulcers. The company offers the DeepView System, a noninvasive platform combining multispectral imaging technology with proprietary AI algorithms to distinguish fully damaged, partially damaged, and healthy tissue invisible to the naked eye; AI-Burn software for burn wound assessments; and provides immediate binary predictions on wound healing potential to guide clinician decisions. Founded in 2013 and headquartered in Dallas, Texas, with operations in the United States and United Kingdom, Spectral AI targets healthcare providers such as hospitals, burn centers, and emergency departments through device sales, SaaS models, and government contracts. Recent developments include a March 2025 financing raising $11.2 million via $8.5 million initial debt from Avenue Venture Opportunities Fund and $2.7 million equity; plans to spin off subsidiary Spectral IP Inc. for IP monetization in healthcare and AI; a major U.S. government contract up to $150 million for DeepView burn applications targeting FDA approval by Q1 2026; and progress toward handheld device commercialization using military funding pathways alongside its cart-based system.

Company News

APIChat
  • Spectral AI Announces Voting Results of Annual Meeting of Stockholders

  • Spectral AI Receives FDA De Novo Clearance for DeepView® System for Burn Indication

  • Spectral AI Q1 Earnings Call Highlights

  • Spectral AI, Inc. (MDAI) Q1 2026 Earnings Call Transcript

  • Spectral AI Announces 2026 First Quarter Financial Results

  • Spectral AI Wins Small Business Innovator Award at Inaugural Texas Innovation Conference

  • Spectral AI Schedules 2026 First Quarter Financial Results and Conference Call

  • Spectral AI's DeepView® System Showcased at 2026 American Burn Association Annual Meeting

  • Spectral AI Announces Annual Meeting of Stockholders

  • Spectral AI to Feature DeepView® System at 2026 American Burn Association Annual Meeting

  • Spectral AI Names David McGuire, CPA, as Chief Financial Officer

  • Reviewing ADM Tronics Unlimited (OTCMKTS:ADMT) & Spectral AI (NASDAQ:MDAI)

  • Spectral AI Q4 Earnings Call Highlights

  • Spectral AI (MDAI) to Release Quarterly Earnings on Wednesday

  • Spectral AI, Inc. (MDAI) Q4 2025 Earnings Call Transcript

  • Spectral AI Announces 2025 Fourth Quarter and Full Year Financial Results and Introduces Revenue Guidance for 2026

  • Spectral AI Stock Jumps After $31.7 Million Funding Award

  • Spectral AI Awarded $31.7 Million of BARDA Funding to Accelerate Development of the DeepView® System

  • Spectral AI Schedules 2025 Fourth Quarter and Full Year Financial Results and Conference Call

  • Spectral AI Names Vincent S. Capone as Chief Executive Officer