Is Spectral AI, Inc. (MDAI) a Buy, Sell, or Hold?
NASDAQ : MDAI
Spectral AI, Inc. — Financials
$1.57 USD
-$0.14 (-8.19%)
- Volume
- 236.62K
- Average Volume
- 506.91K
- Market Capitalization
- $49.96M
- P/E Ratio
- -4.50
- Dividend Yield
- 0.00%
- Price Target
- $4.00
- Year High
- $2.97
- Year Low
- $1.18
- Day High
- —
- Day Low
- —
- Payout Ratio
- $0.00
- Current Ratio
- $0.90
MDAI Financial Statements
| date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| revenue | 19.65M | 29.58M | 18.06M | 25.37M | 15.24M |
| costOfRevenue | 10.72M | 16.31M | 10.18M | 14.53M | 8.19M |
| grossProfit | 8.92M | 13.27M | 7.88M | 10.84M | 7.05M |
| researchAndDevelopmentExpenses | 19.65M | 29.58M | - | - | - |
| generalAndAdministrativeExpenses | 17.53M | 19.86M | 20.86M | 13.48M | 11.23M |
| sellingAndMarketingExpenses | - | - | - | - | - |
| sellingGeneralAndAdministrativeExpenses | 17.53M | 19.86M | 20.86M | 13.48M | 11.23M |
| otherExpenses | -19.65M | -29.58M | - | - | - |
| operatingExpenses | 17.53M | 19.86M | 20.86M | 13.48M | 11.23M |
| costAndExpenses | 28.25M | 36.16M | 31.04M | 28.02M | 19.42M |
| netInterestIncome | -2.39M | -2.95M | 172K | 21000 | - |
| interestIncome | -886K | 14000 | 172K | 21000 | - |
| interestExpense | 1.51M | 2.96M | - | - | - |
| depreciationAndAmortization | 635K | 588K | 722K | 568K | 1000 |
| ebitda | -5.42M | -11.49M | -20.12M | -2.24M | -4.08M |
| ebit | -6.05M | -12.08M | -20.84M | -2.81M | -4.09M |
| nonOperatingIncomeExcludingInterest | -2.55M | 5.5M | 7.86M | 159K | -93000 |
| operatingIncome | -8.6M | -6.58M | -12.98M | -2.65M | -4.18M |
| totalOtherIncomeExpensesNet | 1.04M | -8.46M | -7.86M | -159K | 93000 |
| incomeBeforeTax | -7.56M | -15.04M | -20.84M | -2.81M | -4.09M |
| incomeTaxExpense | 11000 | 271K | 11000 | 106K | -98000 |
| netIncomeFromContinuingOperations | -7.57M | -15.32M | -20.85M | -2.91M | -3.99M |
| netIncomeFromDiscontinuedOperations | - | - | - | - | - |
| otherAdjustmentsToNetIncome | - | - | - | - | - |
| netIncome | -7.57M | -15.32M | -20.85M | -2.91M | -3.99M |
| netIncomeDeductions | - | - | - | - | - |
| bottomLineNetIncome | -7.57M | -15.32M | -20.85M | -2.91M | -5.25M |
| eps | -0.29 | -0.85 | -1.48 | -0.16 | -0.33 |
| date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
|---|---|---|---|---|---|---|
| cashAndCashEquivalents | 15.39M | 5.16M | 4.79M | 14.17M | 16.12M | - |
| shortTermInvestments | - | - | - | - | - | - |
| cashAndShortTermInvestments | 15.39M | 5.16M | 4.79M | 14.17M | 16.12M | - |
| netReceivables | 1.27M | 2.5M | 2.35M | 2.91M | 1.51M | - |
| accountsReceivables | 1.27M | 2.5M | 2.35M | 2.29M | 1.44M | - |
| otherReceivables | - | - | - | 618K | 71000 | - |
| inventory | 838K | 425K | 230K | - | - | - |
| prepaids | 821K | 1.29M | 1.45M | 331K | 313.12K | - |
| otherCurrentAssets | 1.13M | 746K | 1.08M | 270K | 526.88K | - |
| totalCurrentAssets | 19.45M | 10.12M | 9.9M | 17.69M | 18.47M | - |
| propertyPlantEquipmentNet | 1.66M | 1.97M | 790K | 1.03M | 32000 | - |
| goodwill | - | - | - | - | - | - |
| intangibleAssets | - | - | - | - | - | - |
| goodwillAndIntangibleAssets | - | - | - | - | - | - |
| longTermInvestments | - | - | - | 4.63M | 253.03M | - |
| taxAssets | - | - | - | - | - | - |
| otherNonCurrentAssets | 287K | - | - | -4.63M | -252.99M | 164.9K |
| totalNonCurrentAssets | 1.95M | 1.97M | 790K | 1.03M | 72000 | 164.9K |
| otherAssets | - | - | - | - | - | - |
| totalAssets | 21.4M | 12.1M | 10.69M | 18.72M | 18.54M | 164.9K |
| totalPayables | 3.11M | 4.22M | 2.79M | 2.87M | 1.66M | - |
| accountPayables | 3.01M | 4.04M | 2.68M | 2.76M | 1.41M | - |
| otherPayables | 98000 | 188K | 107K | 110K | 246K | - |
| accruedExpenses | 1.9M | 2.61M | 4.19M | 2.52M | 1.38M | - |
| shortTermDebt | 2.85M | 2.79M | 436K | 175K | 583K | 40000 |
| capitalLeaseObligationsCurrent | 734K | 201K | 853K | 680K | - | - |
| taxPayables | - | 188K | 107K | 110K | 246K | - |
| deferredRevenue | 154K | 960K | 2.31M | - | 23000 | - |
| otherCurrentLiabilities | 11.87M | 6.86M | 1.82M | 129K | 1.14M | 100.57K |
| totalCurrentLiabilities | 20.63M | 17.64M | 12.4M | 6.37M | 4.79M | 140.57K |
| longTermDebt | 6.51M | - | - | - | - | - |
| capitalLeaseObligationsNonCurrent | - | 1.7M | - | 346K | - | - |
| deferredRevenueNonCurrent | - | - | - | - | - | - |
| deferredTaxLiabilitiesNonCurrent | - | - | - | - | - | - |
| otherNonCurrentLiabilities | - | - | - | - | 19M | - |
| totalNonCurrentLiabilities | 6.51M | 1.7M | - | 346K | 19M | - |
| otherLiabilities | - | - | - | - | -19M | - |
| capitalLeaseObligations | 734K | 1.9M | 853K | 1.03M | - | - |
| totalLiabilities | 27.13M | 19.35M | 12.4M | 6.72M | 4.79M | 140.57K |
| treasuryStock | - | - | - | - | - | - |
| preferredStock | - | - | - | - | - | - |
| commonStock | 3000 | 2000 | 2000 | 1000 | 135K | 575 |
| retainedEarnings | -55.8M | -48.1M | -32.79M | -11.93M | -9.02M | -675 |
| additionalPaidInCapital | 50.03M | 40.85M | 31.06M | 23.93M | 22.64M | 24425 |
| date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| netIncome | -7.57M | -15.32M | -20.85M | -2.91M | -3.99M |
| depreciationAndAmortization | 635K | 588K | 722K | 568K | 1000 |
| deferredIncomeTax | - | - | - | - | - |
| stockBasedCompensation | 1.12M | 1.03M | 1.24M | 1.16M | 1.36M |
| changeInWorkingCapital | -2.03M | -1.87M | 1.63M | 84000 | 2000 |
| accountsReceivables | 1.24M | -159K | 566K | -1.41M | 1.18M |
| inventory | -413K | -195K | -230K | - | - |
| accountsPayables | -1.02M | 1.43M | -935K | 1.34M | -2.4M |
| otherWorkingCapital | -1.83M | -2.94M | 2.23M | 145K | 1.22M |
| otherNonCashItems | -2.07M | 6.37M | 4.02M | -57000 | -298K |
| netCashProvidedByOperatingActivities | -9.92M | -9.2M | -13.24M | -1.16M | -2.92M |
| investmentsInPropertyPlantAndEquipment | - | - | - | - | -7000 |
| acquisitionsNet | - | - | - | - | - |
| purchasesOfInvestments | - | - | - | - | - |
| salesMaturitiesOfInvestments | - | - | - | - | - |
| otherInvestingActivities | - | - | - | - | - |
| netCashProvidedByInvestingActivities | - | - | - | - | -7000 |
| netDebtIssuance | 6.71M | 5.34M | -483K | -785K | -701K |
| longTermNetDebtIssuance | 6.71M | 5.34M | -483K | -785K | -701K |
| shortTermNetDebtIssuance | - | - | - | - | - |
| netStockIssuance | 13.41M | 4.06M | 3.35M | - | 14.62M |
| netCommonStockIssuance | 13.41M | 4.06M | 3.35M | - | 14.62M |
| commonStockIssuance | 13.41M | 4.06M | 3.35M | - | 14.62M |
| commonStockRepurchased | - | - | - | - | - |
| netPreferredStockIssuance | - | - | - | - | - |
| netDividendsPaid | - | - | - | - | - |
| commonDividendsPaid | - | - | - | - | - |
| preferredDividendsPaid | - | - | - | - | - |
| otherFinancingActivities | - | 177K | 976K | - | 4000 |
| netCashProvidedByFinancingActivities | 20.12M | 9.58M | 3.84M | -785K | 13.92M |
| date | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| revenue | 3.52M | 3.99M | 3.85M | 3.79M | 5.06M | 6.71M | 7.6M | 8.17M | 7.48M | 6.33M |
| costOfRevenue | 2.41M | 1.96M | 2.32M | 2.17M | 2.78M | 3.54M | 4.26M | 4.51M | 4.16M | 3.38M |
| grossProfit | 1.11M | 2.03M | 1.53M | 1.62M | 2.29M | 3.17M | 3.35M | 3.67M | 3.31M | 2.94M |
| researchAndDevelopmentExpenses | 1.7M | - | 4.09M | - | 3M | 3.6M | - | 8.17M | 7.48M | - |
| generalAndAdministrativeExpenses | 3.09M | 4M | 4.29M | 4.96M | 4.41M | 3.86M | 4.46M | 4.55M | 5.76M | 5.09M |
| sellingAndMarketingExpenses | 653K | - | - | - | - | - | - | - | - | - |
| sellingGeneralAndAdministrativeExpenses | 3.74M | 4M | 4.29M | 4.96M | 4.41M | 3.86M | 4.46M | 4.55M | 5.76M | 5.09M |
| otherExpenses | - | - | -4.36M | - | -3M | -3.4M | - | -8.17M | -7.48M | - |
| operatingExpenses | 5.44M | 4M | 4.01M | 4.96M | 4.41M | 4.06M | 4.46M | 4.55M | 5.76M | 5.09M |
| costAndExpenses | 7.85M | 5.96M | 6.33M | 7.13M | 7.19M | 7.6M | 8.72M | 9.06M | 9.92M | 8.47M |
| netInterestIncome | -378K | -444K | -926K | -300K | -124K | -581K | -917K | -1.07M | -705K | -262K |
| interestIncome | - | -258K | -289K | - | - | - | 14000 | -8000 | -6000 | 14000 |
| interestExpense | 378K | 186K | 637K | 300K | 124K | 581K | 931K | 1.06M | 699K | 276K |
| depreciationAndAmortization | 30000 | 177K | 172K | 30000 | 10000 | 2000 | 133K | 130K | 39000 | 286K |
| ebitda | -3.6M | -3.06M | 1.41M | -3.22M | -7.85M | 3.55M | -6.54M | -278K | -2.06M | -2.62M |
| ebit | -3.63M | -3.24M | 1.24M | -3.25M | -7.86M | 3.55M | -6.67M | -408K | -2.1M | -2.91M |
| nonOperatingIncomeExcludingInterest | -696K | 1.26M | -3.72M | -91000 | 5.74M | -4.44M | 5.56M | -478K | -346K | 764K |
| operatingIncome | -4.32M | -1.97M | -2.48M | -3.34M | -2.12M | -896K | -1.11M | -886K | -2.44M | -2.14M |
| totalOtherIncomeExpensesNet | 318K | -1.45M | 3.08M | -209K | -5.86M | 3.86M | -6.49M | -581K | -353K | -1.04M |
| incomeBeforeTax | -4.01M | -3.42M | 601K | -3.55M | -7.99M | 2.97M | -7.6M | -1.47M | -2.8M | -3.18M |
| incomeTaxExpense | 170K | 10000 | -41000 | 2000 | -19000 | 71000 | 143K | 37000 | 69000 | 22000 |
| netIncomeFromContinuingOperations | -4.18M | -3.43M | 642K | -3.55M | -7.97M | 2.9M | -7.74M | -1.5M | -2.86M | -3.2M |
| netIncomeFromDiscontinuedOperations | - | - | - | - | - | - | - | - | - | - |
| otherAdjustmentsToNetIncome | - | 20000 | - | - | - | - | - | - | - | - |
| netIncome | -4.18M | -3.41M | 642K | -3.55M | -7.97M | 2.9M | -7.74M | -1.5M | -2.86M | -3.2M |
| netIncomeDeductions | - | - | - | - | - | - | - | - | - | - |
| bottomLineNetIncome | -4.18M | -3.41M | 642K | -3.55M | -7.97M | 2.9M | -7.74M | -1.5M | -2.86M | -3.2M |
| eps | -0.13 | -0.11 | 0.02 | -0.13 | -0.31 | 0.13 | -0.41 | -0.08 | -0.16 | -0.19 |
| date | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| cashAndCashEquivalents | 13.98M | 11.66M | 15.39M | 10.5M | 10.52M | 14.06M | 5.16M | 3.7M | 6.88M | 10.16M |
| shortTermInvestments | - | - | - | - | - | - | - | - | - | - |
| cashAndShortTermInvestments | 13.98M | 11.66M | 15.39M | 10.5M | 10.52M | 14.06M | 5.16M | 3.7M | 6.88M | 10.16M |
| netReceivables | 1.18M | 1.18M | 1.27M | 990K | 1.47M | 2.1M | 2.5M | 2.83M | 2.3M | 1.83M |
| accountsReceivables | - | 1.18M | 1.27M | 990K | 1.47M | 2.1M | 2.5M | 2.83M | 2.3M | 1.83M |
| otherReceivables | - | - | - | - | - | - | - | - | - | - |
| inventory | 815K | 831K | 838K | 454K | 462K | 437K | 425K | 443K | 267K | 228K |
| prepaids | - | 738K | 821K | 706K | 934K | 1.29M | 1.29M | 1.51M | 1.25M | 1.58M |
| otherCurrentAssets | 1.82M | 1.58M | 1.13M | 818K | 614K | 840K | 746K | 1.01M | 973K | 1.09M |
| totalCurrentAssets | 17.79M | 15.99M | 19.45M | 13.46M | 14M | 18.73M | 10.12M | 9.5M | 11.66M | 14.88M |
| propertyPlantEquipmentNet | 1.31M | 1.49M | 1.66M | 1.84M | 2.01M | 1.99M | 1.97M | 2.11M | 2.24M | 599K |
| goodwill | - | - | - | - | - | - | - | - | - | - |
| intangibleAssets | - | - | - | - | - | - | - | - | - | - |
| goodwillAndIntangibleAssets | - | - | - | - | - | - | - | - | - | - |
| longTermInvestments | - | - | - | - | - | - | - | - | - | - |
| taxAssets | - | - | - | - | - | - | - | - | - | - |
| otherNonCurrentAssets | 337K | 260K | 287K | - | - | - | - | - | - | - |
| totalNonCurrentAssets | 1.64M | 1.75M | 1.95M | 1.84M | 2.01M | 1.99M | 1.97M | 2.11M | 2.24M | 599K |
| otherAssets | - | - | - | - | - | - | - | - | - | - |
| totalAssets | 19.44M | 17.73M | 21.4M | 15.3M | 16.01M | 20.72M | 12.1M | 11.6M | 13.9M | 15.48M |
| totalPayables | - | 1.48M | 3.11M | 2.68M | 2.13M | 3.37M | 4.22M | 3.01M | 2.49M | 3.34M |
| accountPayables | 1.72M | 1.42M | 3.01M | 2.54M | 1.99M | 3.11M | 4.04M | 2.8M | 2.4M | 3.31M |
| otherPayables | - | 60000 | 98000 | 145K | 143K | 258K | 188K | 215K | 87000 | 38000 |
| accruedExpenses | - | 2.19M | 1.9M | 1.9M | 1.96M | 3.06M | 2.61M | 2.52M | 1.99M | 3.78M |
| shortTermDebt | 4.64M | 3.91M | 2.85M | 1.21M | 62000 | 244K | 2.79M | 4.97M | 8M | 5.75M |
| capitalLeaseObligationsCurrent | - | 755K | 734K | 713K | 612K | 474K | 201K | 212K | 224K | 660K |
| taxPayables | - | - | - | - | - | 258K | 188K | 215K | 87000 | 38000 |
| deferredRevenue | 21000 | - | 154K | 239K | 424K | 663K | 960K | 731K | 1.32M | 2.18M |
| otherCurrentLiabilities | 15.21M | 12.94M | 11.87M | 9.02M | 11M | 5.5M | 6.86M | 1.62M | 2.1M | 1.8M |
| totalCurrentLiabilities | 19.87M | 21.27M | 20.63M | 15.76M | 16.19M | 13.31M | 17.64M | 13.07M | 16.13M | 17.51M |
| longTermDebt | 11.62M | 5.27M | 6.51M | 7.74M | 7.63M | 7.51M | - | 1M | - | - |
| capitalLeaseObligationsNonCurrent | - | - | - | - | 1.34M | 1.52M | 1.7M | 1.87M | 2.04M | - |
| deferredRevenueNonCurrent | - | - | - | - | - | - | - | - | - | - |
| deferredTaxLiabilitiesNonCurrent | - | - | - | - | - | - | - | - | - | - |
| otherNonCurrentLiabilities | - | - | - | - | - | - | - | - | - | - |
| totalNonCurrentLiabilities | 11.62M | 5.27M | 6.51M | 7.74M | 8.97M | 9.04M | 1.7M | 2.87M | 2.04M | - |
| otherLiabilities | - | - | - | - | - | - | - | - | - | - |
| capitalLeaseObligations | - | 755K | 734K | 713K | 1.95M | 2M | 1.9M | 2.08M | 2.26M | 660K |
| totalLiabilities | 31.49M | 26.54M | 27.13M | 23.5M | 25.16M | 22.35M | 19.35M | 15.94M | 18.16M | 17.51M |
| treasuryStock | - | - | - | - | - | - | - | - | - | - |
| preferredStock | - | - | - | - | - | - | - | - | - | - |
| commonStock | 3000 | 3000 | 3000 | 3000 | 2000 | 2000 | 2000 | 2000 | 2000 | 2000 |
| retainedEarnings | -63.39M | -59.21M | -55.8M | -56.85M | -53.3M | -45.33M | -48.1M | -40.36M | -38.86M | -35.99M |
| additionalPaidInCapital | - | 50.37M | 50.03M | 48.61M | 44.1M | 43.68M | 40.85M | 36M | 34.58M | 33.95M |
| date | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| netIncome | -4.18M | -3.41M | 1.05M | -3.55M | -7.97M | 2.9M | -7.74M | -1.5M | -2.86M | -3.2M |
| depreciationAndAmortization | 181K | 177K | 172K | 171K | 149K | 143K | 133K | 130K | 134K | 191K |
| deferredIncomeTax | - | - | - | - | - | - | - | - | - | - |
| stockBasedCompensation | 807K | 183K | 243K | 261K | 411K | 200K | 174K | 173K | 402K | 283K |
| changeInWorkingCapital | - | -1.86M | -713K | 720K | -1.52M | -513K | 9000 | -70000 | -3.08M | -10000 |
| accountsReceivables | 4000 | 82000 | -277K | 477K | 636K | 402K | 329K | -539K | -467K | 518K |
| inventory | 16000 | 7000 | -384K | 8000 | -25000 | -12000 | 18000 | -176K | -39000 | 2000 |
| accountsPayables | 303K | -1.59M | 472K | 552K | -1.1M | -947K | 1.24M | 394K | -903K | 697K |
| otherWorkingCapital | - | -358K | -524K | -317K | -1.03M | 44000 | -338K | 645K | -1.67M | -1.23M |
| otherNonCashItems | -909K | 1.18M | -3.31M | -101K | 5.57M | -4.23M | 7.9M | -355K | 44000 | 61000 |
| netCashProvidedByOperatingActivities | -4.1M | -3.73M | -2.55M | -2.5M | -3.36M | -1.5M | 469K | -1.63M | -5.36M | -2.68M |
| investmentsInPropertyPlantAndEquipment | - | - | - | - | - | - | - | - | - | - |
| acquisitionsNet | - | - | - | - | - | - | - | - | - | - |
| purchasesOfInvestments | - | - | - | - | - | - | - | - | - | - |
| salesMaturitiesOfInvestments | - | - | - | - | - | - | - | - | - | - |
| otherInvestingActivities | - | - | - | - | - | - | - | - | - | - |
| netCashProvidedByInvestingActivities | - | - | - | - | - | - | - | - | - | - |
| netDebtIssuance | - | -157K | -176K | -62000 | -207K | 7.15M | -1.56M | -1.56M | 2.08M | 5.38M |
| longTermNetDebtIssuance | - | -157K | -176K | -62000 | -207K | 7.15M | -1.56M | -1.56M | 2.08M | 5.38M |
| shortTermNetDebtIssuance | - | - | - | - | - | - | - | - | - | - |
| netStockIssuance | - | 156K | 7.63M | 2.55M | - | 3.08M | - | - | - | 2.67M |
| netCommonStockIssuance | - | 156K | 7.63M | 2.55M | - | 3.08M | - | - | - | 2.67M |
| commonStockIssuance | 5000 | 156K | 7.63M | 2.55M | - | 3.08M | - | - | - | 2.67M |
| commonStockRepurchased | - | - | - | - | - | - | - | - | - | - |
| netPreferredStockIssuance | - | - | - | - | - | - | - | - | - | - |
| netDividendsPaid | - | - | - | - | - | - | - | - | - | - |
| commonDividendsPaid | - | - | - | - | - | - | - | - | - | - |
| preferredDividendsPaid | - | - | - | - | - | - | - | - | - | - |
| otherFinancingActivities | 6.42M | - | - | - | - | 158K | 2.57M | - | - | - |
| netCashProvidedByFinancingActivities | 6.42M | -1000 | 7.45M | 2.48M | -207K | 10.39M | 1.01M | -1.56M | 2.08M | 8.05M |