SequelSEC

Spectral AI, Inc. MDAI

Surgical & Medical Instruments & Apparatus · CIK 0001833498 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$19.65M
Fiscal year ended 2025-12-31
Operating income
-$8.60M
Fiscal year ended 2025-12-31
Free cash flow
Unavailable
Fiscal year ended 2025-12-31

Spectral AI, Inc. (MDAI) reported revenue of $19.65M and net income of -$7.57M for the fiscal year ended 2025-12-31. This page shows 4 annual periods of income statement, balance sheet and cash flow figures normalized from Spectral AI, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Surgical & Medical Instruments & Apparatus.

Income

Spectral AI, Inc. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-31
Revenue$19.65M$29.58M$18.06M$25.37M
Cost of revenue$10.72M$16.31M$10.18M$14.53M
Gross profit$8.92M$13.27M$7.88M$10.84M
Operating income-$8.60M-$6.58M-$12.98M-$2.65M
Net income-$7.57M-$15.16M-$20.85M-$2.91M
Research & developmentUnavailableUnavailable$15.10M$16.50M
Weighted-average diluted sharesshares 26.52Mshares 17.93Mshares 14.09Mshares 13.14M
Pretax income-$7.56M-$15.04M-$20.84M-$2.81M
Income tax expense$11.00K$114.00K$11.00K$106.00K
Diluted EPS$-0.29$-0.85$-1.48$-0.22
Selling, general & administrativeUnavailableUnavailableUnavailableUnavailable
General & administrative$17.53M$19.86M$20.86M$13.48M
Selling & marketingUnavailableUnavailableUnavailableUnavailable

Balance

Spectral AI, Inc. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-31
Cash & equivalents$15.40M$5.20M$4.79M$14.17M
Total assets$21.40M$12.10M$10.69M$18.72M
Current assets$19.45M$10.12M$9.90M$17.69M
Total liabilities$27.13M$19.35M$12.40M$6.72M
Current liabilities$20.63M$17.64M$12.40M$6.37M
Total equity incl. NCI-$5.73M-$7.25M-$2.15M$12.00M
Temporary (mezzanine) equityUnavailableUnavailableUnavailable$4.79M
Inventory$838.00K$425.00K$230.00KUnavailable
Accounts receivable$1.27M$2.50M$2.35M$2.29M
GoodwillUnavailableUnavailableUnavailableUnavailable
Long-term debt$5.54M$2.79MUnavailableUnavailable
Accounts payable$3.01M$4.04M$2.68M$2.76M

Cash flow

Spectral AI, Inc. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-31
Operating cash flow-$9.92M-$9.20M-$13.24M-$1.16M
Capital expendituresUnavailableUnavailableUnavailableUnavailable
Investing cash flowUnavailableUnavailableUnavailable$251.56M
Financing cash flow$20.12M$9.58M$3.84M-$785.00K
Net change in cash$10.24M$367.00K-$9.38M-$1.95M
Stock-based compensation$1.12M$1.03M$1.24M$1.16M
Common dividends paidUnavailableUnavailableUnavailableUnavailable
Common share repurchasesUnavailableUnavailableUnavailable$250.52M
Depreciation & amortizationUnavailableUnavailableUnavailableUnavailable

Derived

Spectral AI, Inc. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-31
Free cash flowUnavailableUnavailableUnavailableUnavailable
Gross margin45.4%44.9%43.6%42.7%
Operating margin-43.8%-22.3%-71.9%-10.4%
FCF marginUnavailableUnavailableUnavailableUnavailable
SBC / revenue5.7%3.5%6.9%4.6%
Current ratio0.94x0.57x0.80x2.77x
Revenue YoY growth-33.6%63.8%-28.8%Unavailable
Net margin-38.5%-51.2%-115.5%-11.5%
R&D / revenueUnavailableUnavailableUnavailable65.0%
CapEx / revenueUnavailableUnavailableUnavailableUnavailable
Long-term debt / equityUnavailableUnavailableUnavailableUnavailable
Effective tax rateUnavailableUnavailableUnavailableUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open MDAI in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-11View SEC filing
10-Q · Filed 2026-05-13View SEC filing
10-K · Filed 2026-03-25View SEC filing
10-Q · Filed 2025-11-13View SEC filing
10-Q · Filed 2025-08-13View SEC filing
10-Q · Filed 2025-05-15View SEC filing

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Reconciliation checks needing review

2 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.

balance equationreview2022-12-31

Difference 4787977 exceeds tolerance 1000000. Presentation or filing-vintage differences need review.

cash flow reconciliationreview2022-12-31

Operating, investing and financing flows differ from the reported change in cash by 251557098, beyond tolerance 2515570.98.