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    Spectral AI, Inc.

    Company overview

    Market capitalization
    $51.82M
    Employees
    65
    Latest publication
    2026-09-29
    About Spectral AI, Inc.

    Spectral AI, Inc., an artificial intelligence (AI) company, focuses on predictive medical diagnostics in the United States. The company offers DeepView System, which uses proprietary AI algorithms to distinguish between fully damaged, partially damaged, and healthy human tissue characteristics invisible to the naked eye at the initial time point of wound presentation and delivers a binary prediction on the wounds capacity to heal by a specified time point in the future to assist the physician in making a more accurate, timely, and informed decision regarding the treatment of the patient's wounds. Its system also develops AI-Burn software and MSI imaging technology, which consists of proprietary multi-spectral optics and sensors that capture injured tissue images. Spectral AI, Inc. is headquartered in Dallas, Texas.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Revenue3,524,000USD3,991,000USD3,849,000USD3,792,000USD5,065,000USD6,707,000USD7,604,000USD8,173,000USD
    Cost Of Revenue2,411,000USD1,964,000USD2,318,000USD2,171,000USD2,775,000USD3,539,000USD4,256,000USD4,506,000USD
    Gross Profit1,113,000USD2,027,000USD1,531,000USD1,621,000USD2,290,000USD3,168,000USD3,348,000USD3,667,000USD
    Research Development1,696,000USD—4,086,000USD—3,000,000USD3,600,000USD22,103,000USD8,173,000USD
    Selling General Administrative3,088,000USD3,998,000USD4,289,000USD4,962,000USD4,413,000USD3,864,000USD4,459,000USD4,553,000USD
    Selling And Marketing Expenses653,000USD———————
    General And Administrative Expenses3,088,000USD———————
    Total Operating Expenses5,437,000USD3,998,000USD4,011,999USD4,962,000USD4,413,000USD4,064,000USD4,459,000USD4,553,000USD
    Operating Income-4,324,000USD-1,971,000USD-2,481,000USD-3,341,000USD-2,123,000USD-896,000USD-1,111,000USD-886,000USD
    Total Other Income Expense Net318,000USD-1,451,000USD3,082,000USD-209,000USD-5,864,000USD3,864,000USD-6,488,000USD-581,000USD
    Interest Expense378,000USD186,000USD637,000USD300,000USD124,000USD581,000USD931,000USD1,059,000USD
    Income Before Tax-4,006,000USD-3,422,000USD601,000USD-3,550,000USD-7,987,000USD2,968,000USD-7,599,000USD-1,467,000USD
    Income Tax Expense170,000USD10,000USD-41,000USD2,000USD-19,000USD71,000USD143,000USD37,000USD
    Net Income-4,176,000USD-3,412,000USD642,000USD-3,552,000USD-7,968,000USD2,897,000USD-7,742,000USD-1,504,000USD
    Net Interest Income—-444,000USD-926,000USD-464,000USD-401,000USD-601,000USD-917,000USD-1,067,000USD
    Tax Provision—-10,000USD-43,000USD2,000USD-19,000USD71,000USD143,000USD37,000USD
    Net Income From Continuing Ops—-3,412,000USD1,052,000USD-3,552,000USD-7,968,000USD2,897,000USD-7,742,000USD-1,504,000USD
    Ebit—-1,971,000USD—-3,250,000USD-2,123,000USD-896,000USD-6,668,000USD-886,000USD
    Ebitda—-1,794,000USD-2,481,000USD-3,220,000USD-2,113,000USD-894,000USD-6,535,000USD-756,000USD
    Depreciation And Amortization—177,000USD—30,000USD10,000USD2,000USD133,000USD130,000USD
    Reconciled Depreciation—177,000USD172,000USD171,000USD149,000USD143,000USD133,000USD130,000USD
    Unclassified Operating Expenses——-4,363,001USD—-3,000,000USD-3,400,000USD-22,103,000USD-8,173,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USD
    Total Revenue19,650,000USD29,581,000USD18,056,000USD25,368,000USD15,239,000USD—
    Cost Of Revenue10,725,000USD16,307,000USD10,176,000USD14,531,000USD8,187,000USD—
    Gross Profit8,925,000USD13,274,000USD7,880,000USD10,837,000USD7,052,000USD—
    Research Development19,650,000USD29,581,000USD————
    Selling General Administrative17,528,000USD19,856,000USD20,864,000USD13,484,000USD11,231,000USD—
    Unclassified Operating Expenses-19,650,000USD-29,581,000USD————
    Total Operating Expenses17,528,000USD19,856,000USD20,864,000USD13,484,000USD11,231,000USD—
    Operating Income-8,603,000USD-6,582,000USD-12,984,000USD-2,647,000USD-4,179,000USD—
    Interest Expense1,506,000USD2,965,000USD0USD———
    Net Interest Income-2,392,000USD-2,951,000USD172,000USD-12,000USD-17,000USD—
    Income Before Tax-7,560,000USD-15,044,000USD-20,843,000USD-2,806,000USD-4,086,000USD—
    Income Tax Expense11,000USD271,000USD11,000USD106,000USD-98,000USD174,626USD
    Tax Provision11,000USD271,000USD11,000USD106,000USD-98,000USD—
    Net Income-7,571,000USD-15,315,000USD-20,854,000USD-2,912,000USD-3,988,000USD—
    Net Income From Continuing Ops-7,571,000USD-15,315,000USD-20,854,000USD-2,912,000USD-3,988,000USD—
    Ebit-8,603,000USD-12,079,000USD-20,843,000USD-2,647,000USD-4,179,000USD1,448,770USD
    Ebitda-7,968,000USD-11,491,000USD-20,121,000USD-2,079,000USD-4,178,000USD—
    Depreciation And Amortization635,000USD588,000USD722,000USD568,000USD1,000USD—
    Reconciled Depreciation635,000USD588,000USD722,000USD568,000USD1,000USD—
    Total Other Income Expense Net1,043,000USD-8,462,000USD-7,859,000USD-159,000USD93,000USD—
    Interest Income—14,000USD172,000USD21,000USD——
    Net Income Applicable To Common Shares———-2,912,000USD-5,247,000USD1,234,731USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Assets19,436,000USD17,734,000USD21,405,000USD15,300,000USD16,009,000USD20,722,000USD12,095,000USD11,602,000USD
    Cash And Equivalents14,000,000USD———————
    Total Current Assets17,792,000USD15,986,000USD19,453,000USD13,463,000USD14,001,000USD18,728,000USD10,122,000USD9,496,000USD
    Other Current Assets1,322,000USD2,315,000USD1,954,000USD1,524,000USD1,548,000USD2,127,000USD2,035,000USD2,517,000USD
    Other Non Current Assets337,000USD———————
    Total Liabilities31,490,000USD———————
    Total Current Liabilities19,869,000USD21,273,000USD20,626,000USD15,765,000USD16,186,000USD13,312,000USD17,644,000USD13,068,000USD
    Other Current Liabilities1,708,000USD———————
    Total Stockholder Equity-12,054,000USD-8,810,000USD-5,727,000USD-8,203,000USD-9,151,000USD-1,626,000USD-7,251,000USD-4,336,000USD
    Total Equity Including Noncontrolling Interest-12,054,000USD———————
    Long Term Debt11,055,000USD4,502,000USD5,538,000USD6,581,000USD7,632,000USD7,512,000USD—1,000,000USD
    Deferred Revenue21,000USD———————
    Net Receivables1,181,000USD1,185,000USD1,267,000USD990,000USD1,467,000USD2,103,000USD2,505,000USD2,834,000USD
    Inventory815,000USD831,000USD838,000USD454,000USD462,000USD437,000USD425,000USD443,000USD
    Property Plant Equipment Net1,307,000USD1,488,000USD1,665,000USD1,837,000USD2,008,000USD1,994,000USD1,973,000USD2,106,000USD
    Accounts Payable1,725,000USD1,422,000USD3,010,000USD2,538,000USD1,986,000USD3,113,000USD4,035,000USD2,797,000USD
    Short Term Debt776,000USD4,667,000USD3,588,000USD1,927,000USD674,000USD718,000USD2,988,000USD5,186,000USD
    Common Stock3,000USD3,000USD3,000USD3,000USD2,000USD2,000USD2,000USD2,000USD
    Retained Earnings-63,388,000USD-59,212,000USD-55,800,000USD-56,852,000USD-53,300,000USD-45,332,000USD-48,103,000USD-40,361,000USD
    Accumulated Other Comprehensive Income29,000USD30,000USD40,000USD39,000USD52,000USD20,000USD3,000USD25,000USD
    Total Liab—26,544,000USD27,132,000USD23,503,000USD25,160,000USD22,348,000USD19,346,000USD15,938,000USD
    Other Current Liab—15,184,000USD13,874,000USD11,061,000USD13,102,000USD8,560,000USD9,473,000USD4,139,000USD
    Capital Stock—3,000USD3,000USD3,000USD2,000USD2,000USD2,000USD2,000USD
    Cash—11,655,000USD15,394,000USD10,495,000USD10,524,000USD14,061,000USD5,157,000USD3,702,000USD
    Cash And Short Term Investments—11,655,000USD15,394,000USD10,495,000USD10,524,000USD14,061,000USD5,157,000USD3,702,000USD
    Net Debt—-1,717,000USD-5,300,000USD-830,000USD-876,000USD-4,307,000USD-467,000USD4,354,000USD
    Short Long Term Debt—3,912,000USD2,854,000USD1,214,000USD62,000USD244,000USD2,787,000USD4,974,000USD
    Short Long Term Debt Total—9,938,000USD10,094,000USD9,665,000USD9,648,000USD9,754,000USD4,690,000USD8,056,000USD
    Property Plant Equipment Gross—1,488,000USD1,665,000USD1,837,000USD2,008,000USD1,994,000USD1,973,000USD2,106,000USD
    Common Stock Shares Outstanding—31,756,649shares30,394,028shares26,318,624shares25,421,560shares24,030,518shares18,810,771shares17,862,240shares
    Non Current Assets Total—1,748,000USD1,952,000USD1,837,000USD2,008,000USD1,994,000USD1,973,000USD2,106,000USD
    Non Current Liabilities Total—5,271,000USD6,506,000USD7,738,000USD8,974,000USD9,036,000USD1,702,000USD2,870,000USD
    Non Currrent Assets Other—260,000USD287,000USD—————
    Net Working Capital—-5,287,000USD-1,173,000USD-2,302,000USD-2,185,000USD5,416,000USD-7,522,000USD-3,572,000USD
    Unclassified Current Liabilities—-3,912,000USD-2,854,000USD-1,214,000USD——-2,599,000USD-4,759,000USD
    Unclassified Equity—50,366,000USD50,027,000USD48,604,000USD44,093,000USD43,682,000USD40,845,000USD35,996,000USD
    Current Deferred Revenue——154,000USD239,000USD424,000USD663,000USD960,000USD731,000USD
    Unclassified Non Current Liabilities———1,157,000USD1,342,000USD1,524,000USD1,702,000USD1,870,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USD
    Total Assets21,405,000USD12,095,000USD10,692,000USD18,716,000USD18,539,000USD164,899USD
    Other Current Assets1,954,000USD2,035,000USD2,536,000USD601,000USD840,000USD—
    Total Liab27,132,000USD19,346,000USD12,401,000USD6,720,000USD4,786,000USD140,574USD
    Total Stockholder Equity-5,727,000USD-7,251,000USD-1,709,000USD11,996,000USD13,753,000USD24,325USD
    Other Current Liab13,874,000USD9,473,000USD6,011,000USD2,650,000USD2,520,000USD100,574USD
    Common Stock3,000USD2,000USD2,000USD1,000USD135,000USD575USD
    Capital Stock3,000USD2,000USD2,000USD135,000USD135,000USD—
    Retained Earnings-55,800,000USD-48,103,000USD-32,788,000USD-11,934,000USD-9,022,000USD-675USD
    Cash15,394,000USD5,157,000USD4,790,000USD14,174,000USD16,121,000USD—
    Cash And Short Term Investments15,394,000USD5,157,000USD4,790,000USD14,174,000USD16,121,000USD—
    Total Current Assets19,453,000USD10,122,000USD9,902,000USD17,687,000USD18,467,000USD7,908,418USD
    Total Current Liabilities20,626,000USD17,644,000USD12,401,000USD6,374,000USD4,786,000USD140,574USD
    Current Deferred Revenue154,000USD960,000USD2,311,000USD2,631,000USD23,000USD—
    Net Debt-5,300,000USD-467,000USD-3,501,000USD-12,973,000USD-15,538,000USD40,000USD
    Short Term Debt3,588,000USD2,988,000USD1,289,000USD855,000USD583,000USD40,000USD
    Short Long Term Debt2,854,000USD2,787,000USD436,000USD175,000USD583,000USD—
    Short Long Term Debt Total10,094,000USD4,690,000USD1,289,000USD1,201,000USD583,000USD40,000USD
    Long Term Debt5,538,000USD—————
    Net Receivables1,267,000USD2,505,000USD2,346,000USD2,912,000USD1,506,000USD2,690,911USD
    Inventory838,000USD425,000USD230,000USD0USD——
    Accounts Payable3,010,000USD4,035,000USD2,683,000USD2,759,000USD1,414,000USD3,799,208USD
    Property Plant Equipment Net1,665,000USD1,973,000USD790,000USD1,029,000USD32,000USD—
    Property Plant Equipment Gross1,665,000USD1,973,000USD790,000USD1,029,000USD32,000USD—
    Accumulated Other Comprehensive Income40,000USD3,000USD12,000USD———
    Common Stock Shares Outstanding26,518,476shares17,934,218shares14,087,586shares17,880,000shares17,880,000shares—
    Non Current Assets Total1,952,000USD1,973,000USD790,000USD1,029,000USD72,000USD164,899USD
    Non Current Liabilities Total6,506,000USD1,702,000USD0USD346,000USD18,997,642USD—
    Non Currrent Assets Other287,000USD—283,000USD-4,626,107USD-252,987,240USD164,899USD
    Net Working Capital-1,173,000USD-7,522,000USD-2,499,000USD11,313,000USD13,681,000USD—
    Unclassified Current Liabilities-2,854,000USD-2,599,000USD—-2,696,000USD—-3,799,208USD
    Unclassified Equity50,027,000USD40,845,000USD31,063,000USD23,794,000USD22,505,000USD—
    Unclassified Non Current Liabilities—1,702,000USD——18,997,642USD—
    Other Assets——-283,000USD—40,000USD31,046USD
    Net Tangible Assets———11,996,000USD13,753,000USD1,135,565USD
    Unclassified Current Assets—————5,217,507USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow YTD

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USD
    Depreciation60,000USD
    Stock Based Compensation990,000USD
    Change To Account Receivables86,000USD
    Change To Inventory23,000USD
    Change To Liabilities-1,919,000USD
    Change In Working Capital-1,415,000USD
    Operating Cash Flow-7,825,000USD
    Financing Cash Flow6,422,000USD
    Effect Of Forex Changes On Cash-11,000USD
    Change In Cash-1,414,000USD
    End Cash Flow13,980,000USD
    SourceDisclosureDeterministicFinal

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Net Income-3,412,000USD1,052,000USD-3,552,000USD-7,968,000USD2,897,000USD-7,742,000USD-1,504,000USD-2,864,000USD
    Depreciation177,000USD172,000USD171,000USD149,000USD143,000USD133,000USD130,000USD134,000USD
    Stock Based Compensation183,000USD243,000USD261,000USD411,000USD200,000USD174,000USD173,000USD402,000USD
    Other Non Cash Items1,363,000USD-3,306,000USD-101,000USD5,569,000USD-4,232,000USD7,895,000USD-355,000USD44,000USD
    Change To Account Receivables82,000USD-277,000USD477,000USD636,000USD402,000USD329,000USD-539,000USD-467,000USD
    Change To Inventory7,000USD-384,000USD8,000USD-25,000USD-12,000USD18,000USD-176,000USD-39,000USD
    Change In Working Capital-1,856,000USD-713,000USD720,000USD-1,523,000USD-513,000USD9,000USD-70,000USD-3,078,000USD
    Total Cash From Operating Activities-3,728,000USD-2,552,000USD-2,501,000USD-3,362,000USD-1,505,000USD469,000USD-1,626,000USD-5,362,000USD
    Capital Expenditures-3,728,000USD0USD-2,501,000USD0USD0USD0USD0USD0USD
    Free Cash Flow-3,728,000USD-2,552,000USD-2,501,000USD-3,362,000USD-1,505,000USD469,000USD-1,626,000USD-5,362,000USD
    Net Borrowings-157,000USD-129,000USD-62,000USD-207,000USD7,154,000USD-562,000USD-1,564,000USD—
    Total Cash From Financing Activities-1,000USD7,450,000USD2,485,000USD-207,000USD10,392,000USD1,008,000USD-1,564,000USD2,082,000USD
    Issuance Of Capital Stock0USD7,558,000USD0USD0USD3,080,000USD1,393,000USD0USD0USD
    Change In Cash-3,739,000USD4,899,000USD-29,000USD-3,537,000USD8,904,000USD1,455,000USD-3,175,000USD-3,280,000USD
    Begin Period Cash Flow15,394,000USD10,495,000USD10,524,000USD14,061,000USD5,157,000USD3,702,000USD6,877,000USD10,157,000USD
    End Period Cash Flow11,655,000USD15,394,000USD10,495,000USD10,524,000USD14,061,000USD5,157,000USD3,702,000USD6,877,000USD
    Other Cashflows From Financing Activities-1,000USD——-207,000USD158,000USD2,570,000USD-1,564,000USD1USD
    Unclassified Financing Cash Flow——2,547,000USD——-2,393,000USD1,564,000USD2,081,999USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USD
    Net Income-7,571,000USD-15,315,000USD-20,854,000USD-2,912,000USD-3,988,000USD1,234,731USD
    Depreciation635,000USD588,000USD722,000USD568,000USD1,000USD1,000USD
    Stock Based Compensation1,115,000USD1,032,000USD1,243,000USD1,155,000USD1,365,000USD—
    Other Non Cash Items-2,070,000USD6,368,000USD4,015,000USD-57,000USD-298,000USD—
    Change To Account Receivables1,238,000USD-159,000USD566,000USD-1,406,000USD1,185,000USD-1,913,451USD
    Change To Inventory-413,000USD-195,000USD-230,000USD0USD——
    Change In Working Capital-2,029,000USD-1,872,000USD1,634,000USD84,000USD2,000USD660,936USD
    Total Cash From Operating Activities-9,920,000USD-9,199,000USD-13,240,000USD-1,162,000USD-2,918,000USD3,819,572USD
    Capital Expenditures0USD0USD0USD0USD-7,000USD-7,000USD
    Free Cash Flow-9,920,000USD-9,199,000USD-13,240,000USD-1,162,000USD-2,925,000USD—
    Net Borrowings6,756,000USD5,338,000USD-483,000USD-785,000USD-701,000USD488,575USD
    Total Cash From Financing Activities20,120,000USD9,575,000USD3,844,000USD-785,000USD13,921,000USD534,775USD
    Issuance Of Capital Stock10,638,000USD4,060,000USD3,351,000USD0USD14,618,000USD—
    Change In Cash10,237,000USD367,000USD-9,384,000USD-1,947,000USD10,996,000USD4,354,347USD
    Begin Period Cash Flow5,157,000USD4,790,000USD14,174,000USD16,121,000USD5,125,000USD—
    End Period Cash Flow15,394,000USD5,157,000USD4,790,000USD14,174,000USD16,121,000USD5,125,000USD
    Unclassified Financing Cash Flow2,726,000USD—————
    Other Cashflows From Financing Activities—177,000USD976,000USD—4,000USD—
    Change To Liabilities———798,000USD-2,469,000USD2,574,387USD
    Investments———0USD-7,000USD—
    Total Cashflows From Investing Activities————-7,000USD-7,000USD
    Other Cashflows From Investing Activities————-253,000,000USD—
    Unclassified Investing Cash Flow————253,007,000USD—
    Unclassified Operating Cash Flow—————1,922,905USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    No operating metrics are currently published for this company.

    Revenue breakdown

    PeriodDimensionBusiness / regionRevenueCurrencySource
    FY 2023Yearly · 2023-12-31ProductBARDAContracts17,027,000USD0001213900-24-027863
    FY 2023Yearly · 2023-12-31ProductOther USGovernmental Authorities1,029,000USD0001213900-24-027863
    Q3 2023Quarterly · 2023-09-30ProductBARDAContracts3,055,000USD0001213900-23-086995
    Q3 2023Quarterly · 2023-09-30ProductOther USGovernmental Authorities385,000USD0001213900-23-086995
    FY 2022Yearly · 2022-12-31ProductBARDAContracts24,827,000USD0001213900-24-027863
    FY 2022Yearly · 2022-12-31ProductOther USGovernmental Authorities541,000USD0001213900-24-027863
    Q3 2022Quarterly · 2022-09-30ProductBARDAContracts6,903,000USD0001213900-23-086995
    Q3 2022Quarterly · 2022-09-30ProductOther USGovernmental Authorities135,000USD0001213900-23-086995

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.