Spectral AI (NASDAQ:MDAI) Releases Earnings Results

Spectral AI (NASDAQ:MDAI) released its earnings results on Tuesday. The company reported $0.02 EPS for the quarter, FiscalAI reports. The company had revenue of $3.85 million for the quarter.

Here are the key takeaways from Spectral AI’s conference call:

• Company submitted a De Novo application to the FDA in June 2025, received an additional information request which it says was responded to, and is hopeful for a positive FDA determination before the end of Q2 2026 — approval remains uncertain.
• Spectral received a $31.7 million BARDA advance (part of up to $150M Project BioShield funding) to accelerate DeepView enhancements (TBSA tool, EHR integration) and BARDA can subsidize placement of up to 30 initial systems plus an additional 140 systems post-approval.
• Financially, cash improved to $15.4 million at year-end (tripling from 2024), Q4 2025 produced $0.6M net income and the full-year net loss narrowed to $7.6M, which management says provides runway into commercialization.
• Commercial preparations are underway — hiring a Chief Commercial Officer, engaging Deloitte, expanding sales/BME teams, targeting initial U.S. placements in late 2026 with a broader ramp in 2027–2028, and pursuing updated UKCA/international launches thereafter.

Spectral AI Trading Down 4.1%

Shares of NASDAQ:MDAI opened at $1.65 on Wednesday. Spectral AI has a 1-year low of $1.04 and a 1-year high of $3.21. The stock has a market capitalization of $50.64 million, a P/E ratio of -2.23 and a beta of 0.98. The business has a 50-day moving average price of $1.53 and a two-hundred day moving average price of $1.75.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Spectral AI in a research note on Monday, December 22nd. BTIG Research reissued a “buy” rating and set a $3.00 price target on shares of Spectral AI in a report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in Spectral AI during the 4th quarter worth about $75,000. Hudson Bay Capital Management LP bought a new stake in shares of Spectral AI in the fourth quarter valued at about $2,168,000. State Street Corp boosted its position in shares of Spectral AI by 90.9% during the fourth quarter. State Street Corp now owns 75,600 shares of the company’s stock worth $107,000 after buying an additional 36,000 shares during the period. Jane Street Group LLC acquired a new position in shares of Spectral AI during the fourth quarter worth about $75,000. Finally, Geode Capital Management LLC grew its holdings in shares of Spectral AI by 19.0% during the fourth quarter. Geode Capital Management LLC now owns 216,558 shares of the company’s stock worth $308,000 after buying an additional 34,597 shares in the last quarter. 67.08% of the stock is owned by institutional investors and hedge funds.

More Spectral AI News

Here are the key news stories impacting Spectral AI this week:

• Positive Sentiment: Received an additional $31.7M in BARDA funding (non‑dilutive), reinforcing development financing for the DeepView® System and reducing near‑term dilution risk. Spectral AI Announces 2025 Fourth Quarter and Full Year Financial Results and Introduces Revenue Guidance for 2026
• Positive Sentiment: Cash improved to $15.4M at year‑end (from $5.2M), supported by financings and warrant/option activity — gives the company runway as it prepares for commercialization. Spectral AI, Inc. Reports Financial Results for Q4 and Full Year 2025, Highlights Progress in DeepView® System Development
• Positive Sentiment: Reported a Q4 net income of $0.6M (EPS $0.02), a swing from a prior‑year loss — a short‑term profitability signal driven in part by non‑operational fair‑value changes. Spectral AI, Inc. (MDAI) Q4 2025 Earnings Call Transcript
• Neutral Sentiment: Company provided 2026 revenue guidance of ~ $18.5M that primarily reflects continued BARDA development work and explicitly excludes material DeepView system sales — useful planning info but not proof of commercial traction. Spectral AI Announces 2025 Fourth Quarter and Full Year Financial Results and Introduces Revenue Guidance for 2026
• Neutral Sentiment: Short‑interest reports in the feeds show nonsensical/zero figures (0 shares, NaN increases) and are inconclusive for gauging bearish positioning. (Data appears unreliable.)
• Negative Sentiment: R&D revenue declined sharply: Q4 R&D revenue $3.8M vs. $7.6M a year ago and FY R&D revenue $19.7M vs. $29.6M — reflects completion of BARDA base‑phase work and signals lower reimbursed activity absent new contracts. Spectral AI, Inc. Reports Financial Results for Q4 and Full Year 2025, Highlights Progress in DeepView® System Development
• Negative Sentiment: Guidance and commentary show commercialization is still preparatory (De Novo 510(k) submitted), with FY‑2026 revenue expected mainly from development funding — investors concerned about timing and scale of product sales and profitability. Spectral AI Announces 2025 Fourth Quarter and Full Year Financial Results and Introduces Revenue Guidance for 2026

Spectral AI Company Profile

Spectral AI, Inc (NASDAQ: MDAI) is a technology company focused on delivering advanced analytics and insights through the application of machine learning to multi-spectral and hyperspectral data. Its core platform ingests imagery from satellites, aerial drones and ground-based sensors, applying proprietary algorithms to identify patterns and anomalies invisible to the naked eye. The company’s solutions are designed to help clients make more informed decisions in areas such as agriculture, environmental monitoring, infrastructure inspection and resource exploration.

The company offers a cloud-native software-as-a-service (SaaS) platform that enables users to visualize and analyze large volumes of spectral data via customizable dashboards.