SPECTRAL AI, INC. financials
Source: EDGAR filings · Built 2026-06-02T03:31:31Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| EBITDA | -8.53M | -6.57M | -12.97M | -2.64M | — |
| Working Capital | -1.17M | -7.52M | -2.50M | 11.31M | -1.85M |
| Net Debt | -1.59M | -88.00K | -3.50M | -12.97M | — |
| Gross Margin | 45.42% | 44.87% | 43.64% | 42.72% | — |
| Operating Margin | -43.78% | -22.25% | -71.91% | -10.43% | — |
| Net Margin | -38.53% | -51.24% | -115.50% | -11.48% | — |
| Return on Equity (ROE) | 132.20% | 209.05% | 970.40% | -24.27% | -15.62% |
| Return on Assets (ROA) | -35.37% | -125.32% | -195.04% | -15.56% | -0.85% |
| Current Ratio | 0.94× | 0.57× | 0.80× | 2.77× | 0.37× |
| Debt-to-Equity | -2.41× | -0.70× | -0.60× | 0.10× | — |
| Effective Tax Rate | -0.15% | -0.76% | -0.05% | -3.78% | 0.00% |
| Cash Conversion Ratio | 1.31× | 0.61× | 0.63× | 0.40× | 0.38× |
| Accruals Ratio | 0.11× | -0.49× | -0.71× | -0.09× | -0.01× |
| SBC % of Revenue | 5.67% | 3.49% | 6.88% | 4.55% | — |
Valuation Metrics
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Revenues | 19.65M | 29.58M | 18.06M | 25.37M | — |
| Cost of Revenue | 10.72M | 16.31M | 10.18M | 14.53M | — |
| Gross Profit | 8.93M | 13.27M | 7.88M | 10.84M | — |
| Research and Development Expense | — | — | 15.10M | 16.50M | — |
| Operating Expenses | 17.53M | 19.86M | — | 736.00K | — |
| Operating Income (Loss) | -8.60M | -6.58M | -12.98M | -2.65M | -3.42M |
| Income Tax Expense (Benefit) | 11.00K | 114.00K | 11.00K | 106.00K | 0 |
| Net Income (Loss) Attributable to Parent | -7.57M | -15.16M | -20.85M | -2.91M | -2.15M |
| Earnings Per Share, Basic | $-0.29 | $-0.85 | $-1.48 | $-0.22 | — |
| Weighted Average Number of Shares Outstanding, Basic | 26.52M | 17.93M | 14.09M | 13.14M | — |
| Earnings Per Share, Diluted | $-0.29 | $-0.85 | $-1.48 | $-0.22 | — |
| Weighted Average Number of Shares Outstanding, Diluted | 26.52M | 17.93M | 14.09M | 13.14M | — |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 15.40M | 5.20M | 4.79M | 14.17M | 769.43K |
| Assets, Current | 19.45M | 10.12M | 9.90M | 17.69M | 1.08M |
| Assets | 21.41M | 12.10M | 10.69M | 18.72M | 254.11M |
| Long-term Debt | 9.25M | 2.79M | — | — | — |
| Liabilities, Current | 20.63M | 17.64M | 12.40M | 6.37M | 2.94M |
| Long-term Debt, Excluding Current Maturities | 5.54M | — | — | — | — |
| Liabilities | 27.13M | 19.35M | 12.40M | 6.72M | 21.93M |
| Stockholders' Equity Attributable to Parent | -5.73M | -7.25M | -2.15M | 12.00M | 13.75M |
| Common Stock, Shares, Outstanding | 30.69M | 22.59M | 16.29M | 13.17M | — |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -9.92M | -9.20M | -13.24M | -1.16M | -825.59K |
| Net Cash Provided by (Used in) Investing Activities | — | — | — | 251.56M | -253.00M |
| Payments for Repurchase of Common Stock | — | — | — | 250.52M | 0 |
| Net Cash Provided by (Used in) Financing Activities | 20.12M | 9.57M | 3.84M | -785.00K | 254.60M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| EBITDA | -1.94M | -2.21M | — | — | -894.00K | -1.11M |
| Working Capital | -5.29M | -1.17M | -2.30M | -2.19M | 5.42M | -7.52M |
| Net Debt | -1.76M | -1.59M | -835.00K | -852.00K | -4.10M | -88.00K |
| Gross Margin | 50.79% | 45.18% | 42.75% | 45.21% | 47.23% | 44.03% |
| Operating Margin | -49.39% | -54.89% | -88.11% | -41.92% | -13.36% | -14.61% |
| Net Margin | -85.49% | 25.75% | -93.67% | -157.31% | 43.19% | -99.75% |
| Return on Equity (ROE) | 38.73% | -18.37% | 43.30% | 87.07% | -178.17% | 104.61% |
| Return on Assets (ROA) | -19.24% | 4.91% | -23.22% | -49.77% | 13.98% | -62.71% |
| Current Ratio | 0.75× | 0.94× | 0.85× | 0.86× | 1.41× | 0.57× |
| Debt-to-Equity | -1.13× | -2.41× | -1.18× | -1.05× | -6.15× | -0.70× |
| Effective Tax Rate | 0.29% | -4.26% | -0.06% | 0.24% | 2.39% | 0.18% |
| Cash Conversion Ratio | 1.09× | -2.43× | 2.07× | 0.61× | -0.52× | -0.06× |
| Accruals Ratio | 0.02× | 0.17× | 0.25× | -0.19× | 0.21× | -0.67× |
| SBC % of Revenue | 4.59% | 5.95% | 23.00% | 12.06% | 2.98% | 2.29% |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/S | 2.76× | 2.22× | 2.68× | 2.32× | 0.98× | 2.16× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenues | 3.99M | 4.09M | 3.79M | 5.07M | 6.71M | 7.60M |
| Cost of Revenue | 1.96M | 2.24M | 2.17M | 2.77M | 3.54M | 4.26M |
| Gross Profit | 2.03M | 1.85M | 1.62M | 2.29M | 3.17M | 3.35M |
| Research and Development Expense | 2.00M | — | 9.00M | 6.60M | 3.60M | — |
| Operating Expenses | 4.00M | 4.09M | 4.96M | 4.41M | 4.06M | 4.46M |
| Operating Income (Loss) | -1.97M | -2.24M | -3.34M | -2.12M | -896.00K | -1.11M |
| Income Tax Expense (Benefit) | -10.00K | -43.00K | 2.00K | -19.00K | 71.00K | -14.00K |
| Net Income (Loss) Attributable to Parent | -3.41M | 1.05M | -3.55M | -7.97M | 2.90M | -7.58M |
| Earnings Per Share, Basic | $-0.11 | $0.05 | $-0.13 | $-0.31 | $0.13 | $-0.41 |
| Weighted Average Number of Shares Outstanding, Basic | 31.76M | 26.52M | 26.32M | 25.42M | 22.99M | 17.93M |
| Earnings Per Share, Diluted | $-0.11 | $0.05 | $-0.13 | $-0.31 | $0.11 | $-0.41 |
| Weighted Average Number of Shares Outstanding, Diluted | 31.76M | 26.52M | 26.32M | 25.42M | 24.03M | 17.93M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 11.70M | 15.40M | 10.50M | 10.50M | 14.10M | 5.20M |
| Assets, Current | 15.99M | 19.45M | 13.46M | 14.00M | 18.73M | 10.12M |
| Assets | 17.73M | 21.41M | 15.30M | 16.01M | 20.72M | 12.10M |
| Long-term Debt | — | 9.25M | — | — | 7.76M | 2.79M |
| Liabilities, Current | 21.27M | 20.63M | 15.77M | 16.19M | 13.31M | 17.64M |
| Long-term Debt, Excluding Current Maturities | 4.50M | 5.54M | 6.58M | 7.63M | 7.51M | — |
| Liabilities | 26.54M | 27.13M | 23.50M | 25.16M | 22.35M | 19.35M |
| Stockholders' Equity Attributable to Parent | -8.81M | -5.73M | -8.20M | -9.15M | -1.63M | -7.25M |
| Common Stock, Shares, Outstanding | 31.82M | 30.69M | 27.25M | 25.74M | 25.59M | 22.59M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -3.73M | -2.55M | -7.37M | -4.87M | -1.50M | 469.00K |
| Net Cash Provided by (Used in) Financing Activities | -1.00K | 7.45M | 12.67M | 10.19M | 10.39M | 1.01M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (MDAI CIK 0001833498),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.