Stocks Health care MDAI
NASDAQ · Health careSpectral AI, Inc. (MDAI)
Spectral AI, Inc. brought in $15.4M of revenue over the twelve months to June 30, 2026, down 44.1% from a year earlier. It posted a net loss of $10.1M. At June 30, 2026 it held $14M in cash against $11.1M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 11, 2026.
Key facts about Spectral AI, Inc.
- Net worth
- Spectral AI, Inc. has a market value (market cap) of $49.2M at the latest share price, and shareholders' equity of -$12.1M on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $19.7M (-33.6% year on year), with a net loss of $7.6M. Over the 12 months to June 30, 2026: revenue $15.4M, net loss $10.1M.
- Cash flow
- In fiscal 2025 operations used $9.9M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on August 11, 2026 and covers the period to June 30, 2026. Open on SEC EDGAR
- Next earnings report
- Spectral AI, Inc.'s next report is expected around March 24, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Spectral AI, Inc. does
Spectral AI, Inc. is registered with the SEC under industry code SIC 3841 (Surgical & Medical Instruments & Apparatus). Its shares trade on NASDAQ under the ticker MDAI.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $19.7M | -$7.6M | -$0.29 | n/a |
| 2024 | $29.6M | -$15.2M | -$0.85 | n/a |
| 2023 | $18.1M | -$20.9M | -$1.48 | n/a |
| 2022 | $25.4M | -$2.9M | -$0.22 | n/a |
| 2021 | n/a | -$2.1M | n/a | n/a |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where MDAI ranks in Health care
Latest SEC filings
What Spectral AI, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- September 15, 2026
- August 14, 2026Passive stake (5% or more) SCHEDULE 13G
- August 12, 2026
- August 11, 2026Quarterly report 10-Q · period to June 30, 2026Revenue fell 30% to $3.5M versus the same quarter last year; diluted EPS -$0.13 versus -$0.31.
- July 8, 2026
- June 1, 2026
- May 26, 2026
- May 13, 2026Quarterly report 10-Q · period to March 31, 2026Revenue fell 40% to $4M versus the same quarter last year; diluted EPS -$0.11 versus $0.11.
- May 8, 2026Passive stake changed SCHEDULE 13G/A
- April 22, 2026
Insider trades
What the people running Spectral AI, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 7 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 28, 2026 | DiMaio John MichaelDirector | Received as pay | 32,000 | $51.8K |
| September 23, 2026 | DiMaio John MichaelDirector | Received as pay | 60,000 | $100.2K |
| September 21, 2026 | DiMaio John MichaelDirector | Received as pay | 21,012 | $35.5K |
| September 18, 2026 | DiMaio John MichaelDirector | Received as pay | 10,988 | $17.7K |
| September 11, 2026 | DiMaio John MichaelDirector | Received as pay | 22,000 | $35K |
| September 10, 2026 | DiMaio John MichaelDirector | Received as pay | 10,000 | $15.6K |
| August 13, 2026 | DiMaio John MichaelDirector | Received as pay | 35,000 | $57.4K |
| June 29, 2026 | DiMaio John MichaelDirector | Received as pay | 15,000 | $26K |
Who owns MDAI
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| John Michael DiMaio13D, may seek influence | 15.3% | February 27, 2024 |
| LMR Partners LLP13G, passive with 7 related filers | 6.2% | August 14, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 34 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Vanguard Capital Management LLC | 994,410 | +268,120 |
| Highlander Partners, L.P. | 900,000 | 0 |
| Marshall Wace, Llp | 827,454 | new |
| Bridgeway Capital Management, LLC | 287,000 | +88,000 |
| Jane Street Group, LLC | 226,319 | +5,318 |
| UBS Group AG | 225,823 | +112,803 |
| Geode Capital Management, LLC | 222,595 | -78,612 |
| BlackRock, Inc. | 161,777 | +39,523 |
| LPL Financial LLC | 160,701 | new |
| Vanguard Fiduciary Trust Co | 142,664 | +868 |
| University of Texas/texas AM Investment Management Co | 121,711 | -88,777 |
| Rathbones Group PLC | 87,045 | -87,045 |
| State Street Corp | 75,600 | 0 |
| Forum Financial Management, LP | 60,501 | 0 |
| Northern Trust Corp | 50,547 | +18,449 |
| XTX Topco Ltd | 32,927 | +5,839 |
| N.E.W. Advisory Services LLC | 20,010 | +6,010 |
| Jpmorgan Chase & Co | 20,259 | new |
| StoneX Group Inc. | 15,343 | new |
| Royal Bank of Canada | 15,452 | new |
Insiders
5 insiders reported holding 3,370,774 shares in total, about $5.2M at the last price.
| Holder | Shares |
|---|---|
| DiMaio John MichaelDirector | 2,922,847 |
| Capone Vincent S.Chief Executive Officer | 286,450 |
| Cotton Richard JohnDirector | 111,477 |
| Sadagopan DeepakDirector | 25,000 |
| Snyder Marion AnnDirector | 25,000 |
Questions about MDAI
What does Spectral AI, Inc. do?
Spectral AI, Inc. is a company in the Health care sector, listed on NASDAQ as MDAI. Its shares trade on NASDAQ under the ticker MDAI.
What is Spectral AI, Inc.'s net worth?
Spectral AI, Inc. has a market value (market cap) of $49.2M at the latest share price, and shareholders' equity of -$12.1M on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Spectral AI, Inc. profitable?
No. Over the twelve months to June 30, 2026 it reported a net loss of $10.1M on revenue of $15.4M.
How much revenue does Spectral AI, Inc. make?
Over the twelve months to June 30, 2026 Spectral AI, Inc. reported revenue of $15.4M. That is 44.1% less than a year earlier.
When did Spectral AI, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on August 11, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the insider trade from September 29, 2026.
When is Spectral AI, Inc.'s next earnings report?
Spectral AI, Inc.'s next report is expected around March 24, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Spectral AI, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.