Revenue
$18.10M
Fiscal year ended 2025-12-31Operating income
-$13.55M
Fiscal year ended 2025-12-31Free cash flow
Unavailable
Fiscal year ended 2025-12-31Marpai, Inc. (MRAI) reported revenue of $18.10M and net income of -$16.56M for the fiscal year ended 2025-12-31. This page shows 5 annual periods of income statement, balance sheet and cash flow figures normalized from Marpai, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Services-Misc Health & Allied Services, NEC.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $18.10M | $28.17M | $37.16M | $24.34M | $14.23M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | -$13.55M | -$22.09M | -$27.98M | -$26.96M | -$15.86M |
| Net income | -$16.56M | -$22.09M | -$28.75M | -$26.47M | -$15.98M |
| Research & development | $7.00K | $29.00K | $1.31M | $3.71M | $1.73M |
| Weighted-average diluted shares | shares 17.37M | shares 11.51M | shares 6.95M | shares 5.06M | shares 10.08M |
| Pretax income | -$16.56M | -$23.28M | -$29.04M | -$26.99M | -$16.13M |
| Income tax expense | Unavailable | -$1.19M | -$290.00K | -$521.13K | -$150.00K |
| Diluted EPS | $-0.95 | $-1.92 | $-4.14 | $-5.23 | $-1.59 |
| Selling, general & administrative | $12.23M | $14.60M | $25.77M | $19.26M | $13.02M |
| General & administrative | $11.14M | $12.83M | $19.18M | $12.32M | $8.06M |
| Selling & marketing | $1.09M | $1.77M | $6.60M | $6.94M | $4.97M |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Cash & equivalents | $133.00K | $764.00K | $1.15M | $13.76M | $19.18M |
| Total assets | $10.90M | $12.88M | $31.68M | $49.95M | $44.20M |
| Current assets | $10.34M | $11.90M | $17.08M | $26.54M | $26.99M |
| Total liabilities | $43.47M | $40.59M | $45.12M | $43.82M | $14.49M |
| Current liabilities | $25.69M | $18.98M | $20.84M | $17.36M | $11.15M |
| Total equity incl. NCI | -$32.56M | -$27.71M | -$13.44M | $6.14M | $29.71M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | $697.00K | $837.00K | $1.12M | $1.44M | $208.76K |
| Goodwill | Unavailable | Unavailable | $3.02M | $3.02M | $2.38M |
| Long-term debt | $19.40M | $17.79M | $19.40M | $20.20M | $0 |
| Accounts payable | $3.67M | $3.11M | $4.65M | $1.46M | $1.13M |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Operating cash flow | -$7.45M | -$15.16M | -$15.75M | -$35.24M | -$10.80M |
| Capital expenditures | Unavailable | Unavailable | Unavailable | $362.77K | $273.43K |
| Investing cash flow | $500.00K | $227.00K | $1.03M | $32.42M | $9.64M |
| Financing cash flow | $6.67M | $10.67M | $5.10M | $196 | $25.27M |
| Net change in cash | Unavailable | Unavailable | -$9.63M | -$2.82M | $24.12M |
| Stock-based compensation | $3.61M | $3.16M | $2.10M | $3.11M | $1.23M |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $381.00K | $2.26M | $3.90M | $3.54M | $1.96M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | -$35.60M | -$11.07M |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | -74.9% | -78.4% | -75.3% | -110.7% | -111.5% |
| FCF margin | Unavailable | Unavailable | Unavailable | -146.3% | -77.8% |
| SBC / revenue | 20.0% | 11.2% | 5.6% | 12.8% | 8.7% |
| Current ratio | 0.40x | 0.63x | 0.82x | 1.53x | 2.42x |
| Revenue YoY growth | -35.8% | -24.2% | 52.6% | 71.1% | Unavailable |
| Net margin | -91.5% | -78.4% | -77.4% | -108.7% | -112.4% |
| R&D / revenue | 0.0% | 0.1% | 3.5% | 15.2% | 12.2% |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | 1.5% | 1.9% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open MRAI in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-13View SEC filing
10-Q · Filed 2026-05-15View SEC filing
10-K · Filed 2026-03-25View SEC filing
10-Q · Filed 2025-11-12View SEC filing
10-Q · Filed 2025-08-13View SEC filing
10-Q · Filed 2025-05-14View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.