Spectral AI Inc

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Spectral AI excels in Q2, eyes FDA approval and revenue growth

Spectral AI's strong Q2 performance, progress in AI technology, and strategic initiatives position them well for future growth. While facing challenges in FDA approval and commercialization, the company's cash position and revenue guidance offer stability and potential. Opportunities for growth through government contracts and capital access further enhance their prospects.

Spectral AI Inc reports robust Q3 results, eyes AI expansion

Spectral AI Inc (MDAI) demonstrated strong financial performance in Q3 2024, with revenue growth, improved margins, and a focus on key study milestones.
The company's strategic partnerships, clear priorities, and upcoming data release position it well for future growth and innovation in the medical AI space.
While facing challenges in regulatory compliance and market expansion, Spectral AI Inc has opportunities to diversify its offerings, enter new markets, and solidify its position as a leader in AI-based medical treatments.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Spectral AI, Inc. is a predictive artificial intelligence company. It focuses on medical diagnostics for faster and more accurate treatment decisions in wound care for burn, DFU, and future clinical applications. Its DeepView platform is a predictive diagnostic device that offers clinicians an objective and immediate assessment of a wound's healing potential prior to treatment or other medical intervention. The company was founded on November 17, 2020 and is headquartered in Dallas, TX.

DALLAS, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced that Dr. Jeffrey Carter will present data from an ongoing prospective multicenter study analyzing the use of Spectral AI's DeepView™ System, which utilizes non-invasive multispectral imaging technology and proprietary AI, to detect non-healing areas of a wound following thermal (burn) injury.

Spectral AI Announces Podium Presentation at BBA / ISBI Joint Conference Assessing Burn Wound Severity Using Multispectral Imaging and Artificial Intelligence

Spectral AI, Inc. (NASDAQ:MDAI ) Q2 2024 Results Conference Call August 12, 2024 5:00 PM ET Company Participants Devin Sullivan - Managing Director, The Equity Group, Inc. Peter Carlson - Chief Executive Officer Vince Capone - Chief Financial Officer Jeremiah Sparks - Chief Commercial Officer Conference Call Participants Ryan Zimmerman - BTIG Carl Byrnes - Northland Capital Markets RK Ramakanth - HC Wainwright John Vandermosten - Zacks Operator Good day, and welcome to the Spectral AI Inc. Second Quarter 2024 Financial Results Conference Call. All participants will be in a listen-only mode.

Spectral AI, Inc. (MDAI) Q2 2024 Earnings Call Transcript

Spectral AI Inc (NASDAQ:MDAI) reported a 76% year-over-year jump in revenue for the second quarter as it advanced its AI-driven DeepView System for the burn indication. The company said its Q2 research and development revenue was $7.5 million up from $4.3 million due to increased activity under its Project BioShield contract with BARDA for the advanced development of the DeepView System.

Spectral AI grows revenue, advances DeepView System for burns in Q2

Second Quarter Revenue Totals $7.5 Million Total Enrollment Exceeds 85% for Burn Center Pivotal U.S. Clinical Trial Q2 2024 Overview Research & Development Revenue of $7.5 Million Cash Position of $6.9 Million On Track to Generate First Commercial Revenues in the U.K. Later this Year Burn Pivotal Study Nearing Completion Paving the Way for U.S. FDA Submission in Early 2025 Announced Collaboration with PolyNovo Ltd. Providing Introduction to Australian Market Continued Progress in Handheld Burn Wound Diagnostic Technology Added to Russell Microcap® Index effective July 1, 2024 DALLAS, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced financial results for the second quarter ended June 30, 2024 (“Q2 2024”) and provided an update on its ongoing business activities.

Spectral AI Announces 2024 Second Quarter Financial Results

Spectral AI Inc (NASDAQ:MDAI) announced it continues to advance the development of the DeepView SnapShot M, a handheld diagnostic tool for battlefield burn assessments leveraging its AI-driven DeepView System platform. The company highlighted that the DeepView SnapShot M has been designed to be part of the battlefield triage process by providing a fast and accurate assessment of burn wounds.

Spectral AI advances handheld burn assessment device for military use

Poster Presentation at 2024 Military Health System Research Symposium Poster Presentation at 2024 Military Health System Research Symposium

Spectral AI Announces Continuing Progress in Development of Handheld DeepView SnapShot M® for Military Field Use

DALLAS, July 29, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced that it will report financial results for the second quarter ended June 30, 2024 on Monday, August 12, 2024 after the close of the stock market. The Company will host a corresponding conference call at 5:00 pm Eastern Time that day to discuss the results.

Spectral AI Schedules 2024 Second Quarter Financial Results and Conference Call

Spectral AI Inc (NASDAQ:MDAI) announced a 30% increase in its patent portfolio, enhancing the protection of its proprietary DeepView System wound assessment platform. The total number of patents granted to the company rose to 26, up from 20 at the end of the 2023 calendar year.

Spectral AI expands patent portfolio, bolstering AI-driven wound care platform

DALLAS, July 24, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced a 30% increase in its patent portfolio that strengthens and protects its proprietary, AI-driven DeepView System wound assessment platform.

Spectral AI Announces Total U.S. and International Patent Portfolio Now Stands at 26 Granted Patents and 38 Pending Applications in Support of its AI-Driven DeepView System

Spectral AI Inc (NASDAQ:MDAI) announced it has added three new US trial sites to its 2024 Burn Pivotal Study, bringing the total number of sites, including burn centers and emergency departments, to 16. The Medical Center Burn Center at Texas Tech University Health Sciences Center led by principal investigator Dr Alan Pang; Tampa General Hospital Burn Center led by principal investigator Dr Jared Troy; and the University of South Alabama Health Emergency Department led by Andrew Bright have been added to the study, the Dallas-based predictive AI company said on Tuesday.

Spectral AI adds three new clinical sites to pivotal burn study

DALLAS, July 23, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced that it has added three new U.S. Clinical Trial Sites for its 2024 Burn Pivotal Study: University Medical Center (UMC) Burn Center at Texas Tech University Health Sciences Center led by principal investigator Alan Pang, M.D., Tampa General Hospital Burn Center led by principal investigator Jared Troy, M.D., and University of South Alabama (USA) Health Emergency Department led by Andrew Bright, D.O.

Spectral AI Adds Three New Clinical Trial Sites To Expedite Emergency Department Patient Enrollment

Spectral AI Inc (NASDAQ:MDAI) has updated stakeholders on its efforts to address potential market manipulation involving its common stock, primarily through naked short selling. The AI-driven medical diagnostics company told shareholders that it is continuing to support an ongoing naked short selling inquiry led by Erich Spangenberg, a board member and the company's largest shareholder.

Spectral AI highlights concerns over stock manipulation

Spectral AI Inc (NASDAQ:MDAI) said it will be assisted by a leading medical device company and burn wound therapy company in its application and potential deployment of its DeepView System for burn indication in Australia. Under a collaboration agreement signed between the two companies, Melbourne-based PolyNovo Ltd will help with Spectral AI's near-term goal of deploying up to two of the systems at the Royal Adelaide Hospital (pictured) and The Alfred Hospital in Melbourne.

Spectral AI works with market leader on initial steps in Australia

DALLAS, July 08, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced that it has signed a Memorandum of Understanding (“MOU”) with global medical device company and burn wound therapy leader PolyNovo Limited (“PolyNovo”) under which the companies will collaborate to assist Spectral AI in a potential limited deployment of its DeepView System for burn indication in Australia.

Spectral AI Announces Collaboration with Global Wound Care Company PolyNovo to Introduce DeepView System for Burn Indication to Australian Market

Spectral AI Inc (NASDAQ:MDAI) announced that it has added two US clinical trial sites to its 2024 burn study, the University of California San Diego and the University of Utah. The medical diagnostics company said the addition of these new locations expands the total number of US clinical trial sites to 14.

Spectral AI adds two clinical trial sites to pivotal burn study

DALLAS, July 03, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced that it has added two new U.S. Clinical Trial Sites for its 2024 Burn Pivotal Study: the University of California San Diego and the University of Utah.

Spectral AI Expands Clinical Trial Sites for Pivotal U.S. Burn Study

Spectral AI Inc (NASDAQ:MDAI), a company specializing in AI-driven medical diagnostics, has announced the completion of pediatric patient enrollment for its 2024 pivotal study. The study aims to validate the AI algorithm of its DeepView System for burn indications and is set to conclude in the fourth quarter of 2024.

Spectral AI achieves full pediatric enrollment in pivotal burn study

DALLAS, July 02, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced that it has achieved 100% pediatric patient enrollment at burn centers for its 2024 pivotal study designed to validate the AI-driven algorithm used by its DeepView™ System for its burn indication.

Spectral AI Achieves 100% Pediatric Enrollment in Burn Centers for Pivotal U.S. Burn Study

Spectral AI Inc (NASDAQ:MDAI), the wound care diagnostics specialist, has been included in the Russell Microcap Index following the annual Russell Reconstitution, which took effect after the market close on June 28, 2024. The reconstituted Russell Microcap Index will commence trading on July 1, 2024.

Spectral AI joins Russell Microcap Index

DALLAS, July 01, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced its inclusion in the Russell Microcap Index following the annual Russell Reconstitution, which took effect after the market close on June 28, 2024. The reconstituted Russell Microcap Index will commence trading on July 1, 2024.

Spectral AI Joins Russell Microcap® Index

Spectral AI Inc (NASDAQ:MDAI) announced it surpassed 90% of its enrollment target for pediatric patients at burn centers for its late-stage study evaluating its AI-driven DeepView System. The company's DeepView System utilizes proprietary multispectral imaging to distinguish between healthy and damaged tissue and can be used upon a child's arrival at the emergency department or burn center to provide immediate and accurate wound assessments in support of timely clinical decision-making for burn injuries.

Spectral AI near full enrollment of pediatric patients in burn study

DALLAS, June 27, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced that it has surpassed 90% of the enrollment target for pediatric patients at burn centers for its 2024 pivotal study designed to validate the AI-driven algorithm used by its DeepView™ System for its burn indication.

Spectral AI Surpasses 90% of Pediatric Enrollment Target in Burn Centers for Pivotal U.S. Burn Study

Spectral AI Inc (NASDAQ:MDAI) told investors that it has provided support to Nasdaq and the state securities authorities in Florida, Louisiana and Texas to bring their attention to the potential market manipulation of the company's stock, primarily in the form of naked short selling. The company said the inquiry is being led by Erich Spangenberg, a member of its board of directors and its largest shareholder.

Spectral AI supports naked short selling probe

DALLAS, June 17, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced that it will participate in the Northland Capital Markets Virtual Growth Conference on Tuesday, June 25, 2024.

Spectral AI to Participate in the Northland Capital Markets Virtual Growth Conference

Spectral AI Inc (NASDAQ:MDAI) announced that it has achieved 50% clinical trial site enrollment for its pivotal Deepview System study. The DeepView System's image processing algorithm uses multispectral imaging, which has been trained on a proprietary database of more than 340 billion data points, to aid healthcare providers in assessing the healing potential of a burn wound.

News for Spectral AI Inc Stock (MDAI)