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, Dec. 19, 2023 (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, announced the hiring of Peter M. Carlson as Chief Financial Officer today.

Spectral AI Names Industry Veteran and Former Top MiMedx Financial Executive Peter M. Carlson as CFO

DALLAS, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI; MDAIW) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in clinical wound care, today announced that it will participate in the Benchmark 12th Annual Discovery One-on-One Conference being held on December 7, 2023 in New York City.

Spectral AI to Participate in Benchmark's 12th Annual Discovery One-on-One Conference

Spectral AI Inc (NASDAQ:MDAI) has announced the appointment of Erich Spangenberg, the company's largest shareholder, to its board of directors, who will serve as Executive Committee chairman as well as on the Nominating and Corporate Governance Committee.  The predictive AI company focused on medical diagnostics said Spangenberg has 40 years of experience as an entrepreneur, investor, investment banker, and attorney, as is the founder and managing director of Sauvegarder Investment Management, a multi-strategy investment firm dedicated to IP-related financings.

Spectral AI appoints IP veteran Erich Spangenberg as Executive Committee chairman

DALLAS, Nov. 27, 2023 (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 clinical wound care, today announced the appointment of Erich Spangenberg to the Board of Directors (“Board”). Mr. Spangenberg will serve as Chairman of the Company's Executive Committee as well as the Nominating and Corporate Governance Committee.

Spectral AI Appoints Erich Spangenberg as Chairman of the Executive Committee of the Board of Directors

Spectral AI Inc (NASDAQ:MDAI) told investors it had an “extraordinary” third quarter, highlighted by its listing on Nasdaq and the continued progress made with its DeepView System Wound Healing Assessment Technology. Releasing results for the quarter, Spectral AI CEO Wensheng Fan noted the company also received the largest contract in its history: a $149 million award from the US government to advance the AI-driven DeepView System for burn wound assessment.

Spectral AI wraps up “extraordinary” 3Q amid progress with DeepView System

Highlights Continuing Progress in Developing and Commercializing AI-Driven DeepView ® System Wound Healing Assessment Technology

Spectral AI Announces 2023 Third Quarter Financial Results

DALLAS, Nov. 01, 2023 (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 third quarter ended September 30, 2023 on Monday, November 13, 2023 after the close of the stock market. The Company will host a conference call on Tuesday, November 14, 2023 at 9:00 am Eastern Time to discuss the results.

Spectral AI Schedules 2023 Third Quarter Financial Results and Conference Call

Spectral AI Inc (NASDAQ:MDAI) is beefing up its executive team in the UK with the addition of Prof Paul Chadwick. Chadwick, a distinguished clinical scientist and key opinion leader in wound care, will lead the international expansion of Spectral AI's DeepView wound imaging technology across the United Kingdom, Europe, the Middle East, and Africa.

Spectral AI taps Paul Chadwick to lead DeepView global expansion

DALLAS, Oct. 24, 2023 (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 the appointment of Prof. Paul Chadwick as Executive Vice President of the Company's United Kingdom subsidiary. Prof. Chadwick is an experienced clinical scientist and wound care key opinion leader (KOL) with an impressive body of work including a substantial and impactful publication record, particularly in the domain of diabetic wound management. He will be responsible for the international market expansion of the Company's DeepView® wound imaging technology in the United Kingdom, Europe, Middle East and Africa (EMEA), all of which are geographic areas where Prof. Chadwick has extensive clinical networks, significant experience and has enjoyed previous successes.

Spectral AI names Prof. Paul Chadwick, Former CEO of the Royal College of Podiatry UK, as Senior Executive for UK and EMEA

Spectral AI Inc (NASDAQ:MDAI) has announced that its full-year 2023 revenue is expected to approximately $17.4 million, while its revenue in 2024 is expected to be about $28.0 million.  The predictive AI company said it recently revealed the largest contract in its history, an award from the US Government valued at over $149.0 million, which brings its total US Government awards since 2019 to over $246.0 million.

Spectral AI provides positive 2023 and 2024 revenue guidance

Highlights Path Forward and Opportunities Associated with AI-Driven DeepView® Wound Imaging Technology Highlights Path Forward and Opportunities Associated with AI-Driven DeepView® Wound Imaging Technology

Spectral AI Provides 2023-2024 Annual Revenue Guidance

Spectral AI (NASDAQ: MDAI ) stock is taking off on Thursday after the predictive analytics company got UK Conformity Assessed (UKCA) approval for one of its devices. This covers Spectral AI's DeepView SnapShot Wound Imaging System.

Why Is Spectral AI (MDAI) Stock Up 61% Today?

Spectral AI Inc (NASDAQ:MDAI) shares surged in pre-market trade after the company announced that its DeepView SnapShot Wound Imaging System is now United Kingdom Conformity Assessed (UKCA)-marked for use in the UK and it has achieved Class 1 medical device classification from the United States Food and Drug Administration (FDA). The company's DeepView SnapShot is a patented, universal imaging platform that uses predictive artificial intelligence (AI) software to assist clinicians in making quicker and more accurate decisions in wound care.

Spectral AI shares surge as wound imaging device wins regulatory approvals in US and UK

DeepView SnapShot® devices shipped to UK burn centers for evaluation DeepView SnapShot® devices shipped to UK burn centers for evaluation

Spectral AI's DeepView SnapShot® Wound Imaging System, Achieves UKCA Mark and FDA Class 1 Medical Device Classification

Spectral AI Inc (NASDAQ:MDAI) announced it has added seven clinical sites to its multi-centre study of its DeepView Wound Imaging System for diabetic foot ulcers. The company said that its proprietary technology uses multi-spectral imaging and artificial intelligence (AI) to provide clinicians with a healing assessment of diabetic foot ulcers, leading to more accurate and timely diagnosis and therapeutic intervention.

Spectral AI expands diabetic foot ulcer study to additional clinical sites

DALLAS, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI; MDAIW) (“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 the addition of seven clinical sites that are currently enrolling to support the development of its diabetic foot ulcer (DFU) application for the DeepView® Wound Imaging System. The proprietary technology combines multi-spectral imaging and AI technology to provide clinicians with an immediate healing assessment of DFU's for more accurate and timely diagnosis and therapeutic intervention.

Spectral AI Adds Additional Clinical Sites to Multi-Center Diabetic Foot Ulcer (DFU) Study

DALLAS, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI; MDAIW) (“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 the participation of Wensheng Fan, CEO of Spectral AI, as a panelist in the upcoming Accelerate Health: Pioneering Solutions for a Healthier Society Conference. The conference, presented by Worth Media and KPMG, will take place on October 11, 2023, at 8:00 am, at KPMG's Boston office, located at Two Financial Center, 60 South St, Boston, MA 02111.

Spectral AI CEO, Wensheng Fan, to Participate in AI Healthcare Panel at Accelerate Health Conference

Opendoor

Sirius XM Holdings Inc

VS MEDIA Holdings Ltd

Penny stocks, defined as stocks trading under $5 per share, are known for their volatility and potential for significant returns. However, the low price of these stocks also makes them susceptible to dramatic price swings based on company-specific and industry news events.

Are Penny Stocks Worth It? 4 To Watch With Big News

DALLAS, Oct. 02, 2023 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI; MDAIW) (“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 the appointment of Deepak Sadagopan, MHCDS, to its board of directors. A high-impact healthcare executive with more than 25 years of senior leadership experience with top Fortune-rated corporations and aggressive startup environments, he brings to the board expertise in healthcare technology and analytics along with a successful track record in product launches. Currently, Mr. Sadagopan is the Chief Operating Officer of Population Health at Providence St. Joseph Health, one of the largest healthcare systems in the U.S., where he leads population health initiatives across the system to transform care.

Spectral AI Adds Healthcare Services Leader and Population Health Expert Deepak Sadagopan to Board of Directors

DALLAS, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Spectral MD, Inc. (“SMD”), a subsidiary of Spectral AI, Inc. (Nasdaq: MDAI; MDAIW) (“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 it has been awarded a new contract valued at up to $149 million by the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response (ASPR) within the U.S. Department of Health and Human Services. The contract is for the advanced development of the DeepView® System, the Company's AI-driven burn wound imaging technology, to be used at emergency departments, trauma centers and burn centers, for both routine burn care and as a medical countermeasure for use in burn mass casualty incidents (BMCI).

Spectral MD Awarded BARDA Project BioShield Contract Valued at $149 Million for AI-Driven DeepView® Burn Wound Imaging Technology

DALLAS, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI; MDAIW) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, announced today that the Company will present at the 2023 Cantor Fitzgerald Global Healthcare Conference taking place September 26-28, 2023 in New York City. The Company will also host 1x1 meetings during the event.

News for Spectral AI Inc Stock (MDAI)