Spectral AI, Inc.
MDAI Nasdaq· Surgical & Medical Instruments & Apparatus
Last close · Oct 27, 2026
$1.53
KIRA · Stoqly’s AI analyst, in plain words
- Spectral AI, Inc. had $19.7M of revenue in fiscal 2025, down 33.6% on the year before.
- Its operating margin was −43.8%, down 21.5 pts: of every 100 in sales, about −44 is left after running the business.
- Spectral AI, Inc. lost $7.6M in fiscal 2025.
- Spectral AI, Inc. has $6.2M more cash than debt.
Market cap
$49.1M
P/E
—
Revenue
$19.7M
Net income
−$7.6M
Free cash flow
—
Operating margin
−43.8%
Spectral AI, Inc. in 30 seconds · fiscal 2025
Are sales growing?
−33.6%
No. Sales fell 33.6% last year.
Does it make a profit?
−38.5%
No. It lost money last year.
How healthy are the accounts?
3 / 9
Weak. It passes 3 of 9 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What Spectral AI, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 25, 2026
- Legal name
- Spectral AI, Inc.
- CIK
- 0001833498
Spectral AI, Inc. · MDAI
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $1.3M | $25.4M | $18.1M | $29.6M | $19.7M |
| Revenue growth | — | 1,893.9% | −28.8% | 63.8% | −33.6% |
| Net interest income | $1.3M | $12.9M | — | — | — |
| Gross margin | — | 42.7% | 43.6% | 44.9% | 45.4% |
| Operating margin | −268.9% | −10.4% | −71.9% | −22.3% | −43.8% |
| Net income | −$2.1M | −$2.9M | −$20.9M | −$15.2M | −$7.6M |
| Net margin | −168.9% | −11.5% | −115.5% | −51.2% | −38.5% |
| Diluted EPS | — | −$0.22 | −$1.48 | −$0.85 | −$0.29 |
| Cash | |||||
| Cash from operations | −$0.8M | −$1.2M | −$13.2M | −$9.2M | −$9.9M |
| Share buybacks | $0.0M | $251M | — | — | — |
| Share count change | — | — | 7.2% | 27.3% | 47.9% |
| Debt and strength | |||||
| Cash and short-term investments | $0.8M | $14.2M | $4.8M | $5.2M | $15.4M |
| Debt incl. finance leases | — | — | — | $2.8M | $9.3M |
| Shareholders' equity | $13.8M | $12.0M | −$2.1M | −$7.3M | −$5.7M |
| Current ratio | 0.4x | 2.8x | 0.8x | 0.6x | 0.9x |
| Interest coverage | — | — | — | — | −9.7x |
| Returns and quality | |||||
| Return on equity | −15.6% | −22.6% | −423.6% | — | — |
| Return on tangible equity | −15.6% | −24.3% | — | — | — |
| Piotroski F-score | — | — | 3 | 4 | 3 |
| Altman Z'' | 0.3 | 2.8 | −19.9 | −21.1 | −11.8 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Spectral AI, Inc. · MDAI
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $1.53 a share, the company is worth $49.1M.
Source: SEC EDGAR XBRL filings (CIK 0001833498). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.