Company research
Spectral AI, Inc.
CIK 1833498Updated Sep 24, 2026
Name history
Rosecliff Acquisition Corp I · through Sep 13, 2023
MDAI price & chart
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NASDAQ:MDAI on TradingView ↗About the company
Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns. The Company is working to revolutionize the management of wound care by “Seeing the Unknown®” with its DeepView System. The DeepView System is a predictive diagnostic device that offers physicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal to exceed the current standard of care, the DeepView System provides fast and accurate treatment insights to improve patient outcomes and reduce healthcare costs. Spectral AI has been named to TIME’s list of World’s Top HealthTech companies 2025. For more information about the DeepView System, visit www.spectral-ai.com.
In the news
Spectral AI Joins the American Board of Wound Management Foundation in Celebrating Wound Healing Awareness Month ↗
AI Just Got a Green Light from the White House--Here's What That Means for Healthcare Stocks News provided by Equity Insider Jul 29, 2025, 15:01 ET Share this article Share to X Share this article Share to X Equity Insider News Commentary Issued on behalf of Avant Technologies Inc. VANCOUVER, BC , J ↗
Recent filings
Regulation FD Disclosure
Items 7.01, 9.01
Results of Operations and Financial Condition · Regulation FD Disclosure
Items 2.02, 7.01, 9.01
10-Q filing
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · Regulation FD Disclosure
Items 5.02, 7.01, 9.01
Submission of Matters to a Vote of Security Holders · Regulation FD Disclosure
Items 5.07, 7.01, 9.01
Show 5 more recent filings
4 filing
Regulation FD Disclosure
Items 7.01, 9.01
4 filing
4 filing
10-Q filing
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 21,405,000Source | 12,095,000Source | 10,692,000Source | 5,564,720Source |
| Property, Plant and Equipment, NetUSD | 258,000Source | 2,000Source | 12,000Source | — |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 15,400,000Source | 5,200,000Source | 4,790,000Source | 785,038Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 1,267,000Source | 2,505,000Source | 2,346,000Source | — |
| Inventory, NetUSD | 838,000Source | 425,000Source | 230,000Source | — |
| Assets, CurrentUSD | 19,453,000Source | 10,122,000Source | 9,902,000Source | 938,613Source |
| Operating Lease, Right-of-Use AssetUSD | 1,407,000Source | 1,971,000Source | 778,000Source | — |
| Other Assets, NoncurrentUSD | 287,000Source | — | — | — |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 27,132,000Source | 19,346,000Source | 12,401,000Source | 12,872,945Source |
| Stockholders’ equity: | ||||
| Preferred Stock, Value, IssuedUSD | — | — | — | 0Source |
| Common Stock, Value, IssuedUSD | 3,000Source | 2,000Source | 2,000Source | — |
| Additional Paid in CapitalUSD | 50,030,000Source | 40,847,000Source | 31,065,000Source | 0Source |
| Retained Earnings (Accumulated Deficit)USD | -55,800,000Source | -48,103,000Source | -32,788,000Source | -12,096,835Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 40,000Source | 3,000Source | 12,000Source | — |
| Stockholders' Equity Attributable to ParentUSD | -5,727,000Source | -7,251,000Source | -1,709,000Source | -12,096,202Source |
| Additional Paid in Capital, Common StockUSD | 152,000,000Source | — | — | — |
| Liabilities and EquityUSD | 21,405,000Source | 12,095,000Source | 10,692,000Source | 5,564,720Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 20,626,000Source | 17,644,000Source | 12,401,000Source | 3,623,745Source |
| Operating Lease, Liability, CurrentUSD | 734,000Source | 201,000Source | 853,000Source | — |
| Accounts Payable, CurrentUSD | 3,010,000Source | 4,035,000Source | 2,683,000Source | — |
| Operating Lease, Liability, NoncurrentUSD | 968,000Source | 1,702,000Source | — | — |
| Additional Financial Items | ||||
| Accrued Liabilities, CurrentUSD | 2,341,000Source | 3,210,000Source | 4,300,000Source | 3,352,296Source |
| Deferred Revenue, CurrentUSD | — | — | 2,311,000Source | — |
| Long-term Debt, Excluding Current Maturities | — | — | — | — |
| Long-term Debt, Excluding Current MaturitiesUSD | 5,538,000Source | — | — | — |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | 11,039,074Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Share-based Payment Arrangement, Noncash ExpenseUSD | 1,115,000Source | 1,032,000Source | 1,243,000Source | — |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | -1,238,000Source | 159,000Source | 52,000Source | — |
| Increase (Decrease) in InventoriesUSD | 413,000Source | 195,000Source | 230,000Source | — |
| Increase (Decrease) in Accounts PayableUSD | -1,025,000Source | 1,426,000Source | -935,000Source | — |
| Deferred Income Tax Expense (Benefit)USD | — | — | — | 614,297Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | -9,920,000Source | -9,199,000Source | -13,240,000Source | -1,018,990Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | 251,557,098Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | — | — | — | 250,522,502Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | 20,120,000Source | 9,575,000Source | 3,844,000Source | -250,522,502Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 10,237,000Source | 367,000Source | -9,384,000Source | 15,606Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 15,394,000Source | 5,157,000Source | 4,790,000Source | — |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 22,000Source | 11,000Source | 29,000Source | — |
| Income Taxes Paid, NetUSD | 100,000Source | — | — | — |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 37,000Source | -9,000Source | 12,000Source | — |
| Additional Financial Items | ||||
| Amortization of Debt Issuance CostsUSD | 454,000Source | — | — | — |
| DepreciationUSD | 71,000Source | 10,000Source | 9,000Source | — |
| Fair Value, Option, Changes in Fair Value, Gain (Loss)USD | 634,000Source | -6,000Source | -82,000Source | — |
| Financing Interest ExpenseUSD | 1,051,000Source | — | — | — |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -34,000Source | -43,000Source | -24,000Source | — |
| General and Administrative ExpenseUSD | 17,528,000Source | 19,856,000Source | 20,864,000Source | 1,251,036Source |
| Income Tax Expense (Benefit)USD | 11,000Source | 271,000Source | 11,000Source | 614,297Source |
| InterestExpenseNonoperatingUSD | 886,000Source | — | — | — |
| Investment Income, InterestUSD | — | 14,000Source | — | 3,155,965Source |
| Net Income (Loss) Attributable to ParentUSD | -7,571,000Source | -15,315,000Source | -20,854,000Source | 11,039,074Source |
| Nonoperating Income (Expense)USD | 1,043,000Source | -8,462,000Source | -7,859,000Source | — |
| Operating Costs and ExpensesUSD | — | 19,856,000Source | 20,864,000Source | — |
| Operating ExpensesUSD | 17,528,000Source | — | — | — |
| Operating Lease, ExpenseUSD | — | 1,158,000Source | 1,159,000Source | — |
| Payments to Acquire InvestmentsUSD | — | — | — | 0Source |
| Proceeds from Issuance of Common StockUSD | 10,638,000Source | 4,060,000Source | 3,351,000Source | — |
| Proceeds from Stock Options ExercisedUSD | 889,000Source | 177,000Source | 316,000Source | — |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 19,650,000Source | 29,581,000Source | 18,056,000Source | — |
| Cost of Goods and Services Sold | — | — | — | — |
| Operating Income (Loss)USD | -8,603,000Source | -6,582,000Source | -12,984,000Source | -1,251,036Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -7,560,000Source | -15,044,000Source | -20,843,000Source | 11,653,371Source |
| Income Tax Expense (Benefit)USD | 11,000Source | 271,000Source | 11,000Source | 614,297Source |
| Net Income (Loss) Attributable to ParentUSD | -7,571,000Source | -15,315,000Source | -20,854,000Source | 11,039,074Source |
| Earnings Per Share, BasicUSD per share | -0.29Source | -0.85Source | -1.48Source | — |
| Earnings Per Share, DilutedUSD per share | -0.29Source | -0.85Source | -1.48Source | — |
| Weighted Average Number of Shares Outstanding, Basicshares | 26,518,476Source | 17,934,218Source | 14,087,586Source | — |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 26,518,476Source | 17,934,218Source | 14,087,586Source | — |
| Interest Expense (non-operating)USD | 886,000Source | — | — | — |
| Additional Financial Items | ||||
| Current Income Tax Expense (Benefit)USD | 11,000Source | 271,000Source | 11,000Source | — |
| Fair Value, Option, Changes in Fair Value, Gain (Loss)USD | 634,000Source | -6,000Source | -82,000Source | — |
| Financing Interest ExpenseUSD | 1,051,000Source | — | — | — |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -34,000Source | -43,000Source | -24,000Source | — |
| General and Administrative ExpenseUSD | 17,528,000Source | 19,856,000Source | 20,864,000Source | 1,251,036Source |
| Gross ProfitUSD | 8,925,000Source | 13,274,000Source | 7,880,000Source | — |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | -6,654,000Source | — | — | — |
| Interest Expense, DebtUSD | 1,000,000Source | — | — | — |
| Interest Income (Expense), NetUSD | — | — | — | 12,904,407Source |
| Investment Income, InterestUSD | — | 14,000Source | — | 3,155,965Source |
| Investment Income, NetUSD | — | — | 172,000Source | — |
| Nonoperating Income (Expense)USD | 1,043,000Source | -8,462,000Source | -7,859,000Source | — |
| Operating Costs and ExpensesUSD | — | 19,856,000Source | 20,864,000Source | — |
| Operating ExpensesUSD | 17,528,000Source | — | — | — |
| Operating Lease, ExpenseUSD | — | 1,158,000Source | 1,159,000Source | — |
| Other Cost of Operating RevenueUSD | — | 3,000,000Source | — | — |
| Other General and Administrative ExpenseUSD | — | 4,900,000Source | 5,300,000Source | — |
| Research and Development ExpenseUSD | — | — | 15,100,000Source | — |
Filing attachments
ea030558101ex99-1.htm · 8-K · 2026-09-15
EX-99.1 2 ea030558101ex99-1.htm SPECTRAL AI INVESTOR PRESENTATION, DATED SEPTEMBER 14, 2026 Exhibit 99.1 Predictive Wound Healing AI + Multispectral Imaging = Faster, More Accurate Treatment Decisions in Healthcare Nasdaq: MDAI September 2026 1 Revolutionizing Wound Care Delivering on Commitments 13-year track record of meeting milestones validated by $250M+ non-dilutive government funding. • Proof of concept • Clinical validation • Product validation Prioritizing growth opportunities in p…
Read attachment ↗ea030180701ex99-1.htm · 8-K · 2026-08-12
EX-99.1 2 ea030180701ex99-1.htm PRESS RELEASE ISSUED BY SPECTRAL AI, INC. ON AUGUST 11, 2026 Exhibit 99.1 Spectral AI Announces 2026 Second Quarter Financial Results Company Continues to Advance Towards First Commercial Sales of the DeepView ® System for Burn Indication Strong Cash Position of $14.0 Million at June 30, 2026 DALLAS, TX - August 11, 2026 - Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence company focused on medical diagnostics f…
Read attachment ↗ea029741201ex99-1.htm · 8-K · 2026-07-08
EX-99.1 2 ea029741201ex99-1.htm OFFER LETTER, BY AND BETWEEN DARCY BAJKO AND SPECTRAL AI, INC., DATED JULY 7, 2026 Exhibit 99.1 Darcy L. Bajko Cleveland, OH Re: Offer of Employment Dear Darcy, Spectral AI, Inc. (the “ Company ”) is pleased to make an offer of employment as Chief Commercial Officer, subject to the terms set forth in this letter (the “ Letter ”), with an anticipated start date of July 31, 2026 (the “ Start Date ”), pending a successful completion of a background check. The…
Read attachment ↗ea029741201ex99-2.htm · 8-K · 2026-07-08
EX-99.2 3 ea029741201ex99-2.htm PRESS RELEASE ISSUED BY SPECTRAL AI, INC. ON JULY 8, 2026 Exhibit 99.2 Spectral AI Names Darcy Bajko Chief Commercial Officer to Lead Global Sales Launch of FDA-Cleared DeepView® System for Burn Indication Industry Veteran Brings Two Decades of Experience Driving Growth Through New Product Launches, Training and Education DALLAS, TX - July 8, 2026 - Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company …
Read attachment ↗ea029296201ex99-1.htm · 8-K · 2026-06-01
EX-99.1 2 ea029296201ex99-1.htm PRESS RELEASE ISSUED BY SPECTRAL AI, INC. ON JUNE 1, 2026 Exhibit 99.1 Spectral AI Announces Voting Results of Annual Meeting of Stockholders Provides Update and Outlook Following Receipt of FDA De Novo Clearance for DeepView® System for Burn Indication DALLAS, TX - June 1, 2026 - 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 d…
Read attachment ↗ea029218201ex99-1.htm · 8-K · 2026-05-26
EX-99.1 2 ea029218201ex99-1.htm PRESS RELEASE ISSUED BY SPECTRAL AI, INC. ON MAY 26, 2026 Exhibit 99.1 Spectral AI Receives FDA De Novo Clearance for DeepView® System for Burn Indication DALLAS, TX - May 26, 2026 - 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 the U.S. Food and Drug Administration (FDA) granted De N…
Read attachment ↗