MDAI
Spectral AI, Inc.1.5000
+0.0100+0.67%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
46.03MP/E (TTM)
-Basic EPS (TTM)
-0.75Dividend Yield
0%Recent Filings
10-Q
8-K
Q2 revenue dips; FDA milestone hit
Spectral AI reported Q2 2025 research and development revenue of $5.1 million, down 32.0% from $7.5 million in Q2 2024 due to completed BARDA contract trials, yet gross margin held at 45.2%. The company completed its FDA De Novo submission for the DeepView System in June 2025, a key step toward U.S. market approval for burn wound diagnostics. Cash strengthened to $10.5 million, supported by $8.5 million debt drawdown and $2.7 million equity raise; FY 2025 revenue guidance remains $21.5 million. Net loss widened to $7.9 million from $2.9 million, driven by a $5.4 million warrant liability increase.
10-Q
Q2 FY2025 results
Spectral AI's Q2 FY2025 revenue dipped 32.3% y/y to $5.1M from BARDA contracts, yet gross margin edged up to 45.2% on efficient labor mix, while operating loss narrowed to $2.1M from $2.4M. Net loss widened to $8.0M, driven by a $5.4M fair-value hit on warrant liabilities after repricing. Cash climbed to $10.5M, bolstered by $8.5M Avenue debt draw (prime +5.25%, due 2028) and $2.7M equity raise; free cash flow not disclosed in the 10-Q. FDA De Novo filing wrapped on June 30. Regulatory hurdles could delay commercialization.
8-K
FDA De Novo submission
Spectral AI submitted its De Novo request to the FDA for the DeepView System on June 30, 2025, targeting burn care in centers and emergency departments. This non-invasive tool uses multispectral imaging and AI, trained on over 340 billion data points, to predict healing potential same-day or up to seven days post-injury. Submission marks a key milestone. Yet regulatory approval remains uncertain amid forward-looking risks.
8-K
Auditor switch amid control issues
Spectral AI dismissed KPMG as its independent auditor on May 29, 2025, effective immediately, after the Audit Committee cited ongoing material weaknesses in internal controls from prior years. The board then engaged Forvis Mazars Group as the new firm for the fiscal year ending December 31, 2025, with no prior consultations or disagreements noted. This switch underscores persistent financial reporting challenges. No clean break yet.
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