MDAI PRESS-RELEASE SEC Filing Analysis

Latest settled — T+20d

MDAI ▲ +16.88% at T+20d

NEUTRAL call ✓ call won +16.88% · α vs SPY +9.02% · entry $1.54 → $1.80

Next anchor: T+60d in 5d

Currently $1.82 · +18.18% from $1.54 entry

Entry anchored
Mar 24, 03:59 PM ET
via Databento tick

T+1d

-1.30%

call -1.30% · α +0.47%

$1.52

settled 3mo ago

T+5d

-6.49%

call -6.49% · α -6.25%

$1.44

settled 2mo ago

T+20d

+16.88%

call +16.88% · α +9.02%

$1.80

settled 7w ago

T+60d

—

call — · α —

—

in 5d

Price Chart

Loading chart...

Executive Summary

Spectral AI reported FY 2025 revenue of $19.7 million, down 33.5% YoY, with Q4 revenue halving to $3.8 million due to reduced BARDA-related reimbursed costs. Despite declining core revenue, the company swung to a Q4 net profit of $0.6 million (vs. $7.7M loss) due to a $4.0M non-cash gain on warrant liability, while cash surged to $15.4 million from financings and warrant exercises.

Key Financial Metrics

Revenue

$19.7M

-33.5% YoY

EPS

$0.02

Guidance

$18.5M

initiated

Actionable Insight

Monitor FDA decision on De Novo 510(k) submission for DeepView System — commercialization remains key to future revenue. Despite improved cash and reduced losses, declining R&D revenue and lack of near-term product sales limit bullishness. Warrant liability volatility could distort future earnings.

Key Facts

FY 2025 revenue declined to $19.7M from $29.6M in FY 2024 (-33.5%)
Q4 2025 revenue was $3.8M, down from $7.6M in Q4 2024 (-50%)
Q4 net income was $0.6M (EPS $0.02) vs. $7.7M loss ($-0.41) due to $4.0M gain on warrant liability
Full-year net loss narrowed to $7.6M from $15.3M in 2024
Cash increased to $15.4M from $5.2M at year-end 2024
2026 revenue guidance set at $18.5M, excluding commercial sales of DeepView System
Received $31.7M in non-dilutive BARDA funding; total BARDA contract value up to $150M

Financial Impact

Revenue down $9.9M YoY; net loss improved by $7.7M due to non-recurring gains and lower expenses

revenueepscashoperating_losswarrant_liability

Risk Factors

Revenue is heavily dependent on BARDA funding and lacks commercial product sales
Net income driven by non-recurring fair value gains, not core operations
High warrant liability ($11.5M) creates earnings volatility
2026 guidance excludes commercial revenue, indicating prolonged pre-revenue phase

Market Snapshot

Exchange

Nasdaq

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3261781

3 reports for MDAI

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for MDAI — sortable, filterable
	Type				Now
Mar 24, 2026 11w ago	Press Release MIXED ★ 6/10	$1.54 $1.80	▲ +16.88%	▲ +9.02%	$1.82 (+18.18%)
Mar 18, 2026 12w ago	Press Release BULLISH ★ 8/10	$1.42 $1.89	▲ +33.10%	▲ +25.48%	$1.82 (+28.17%)
Mar 10, 2026 13w ago	Press Release NEUTRAL ★ 3/10	$1.40 $1.68	▲ +20.00%	▲ +20.16%	$1.82 (+30.00%)

US Market Status

Market Closed — Opens Mon (49h 33m)

Get Real-Time SEC Filing Intelligence

Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.

Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access