Spectral AI, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $19.6M | $29.6M | $18.1M | $25.4M | — |
| Cost of revenue | $10.7M | $16.3M | $10.2M | $14.5M | — |
| Gross profit | $8.9M | $13.3M | $7.9M | $10.8M | — |
| Research and development | — | — | $15.1M | $16.5M | — |
| Operating expenses | $17.5M | $19.9M | — | — | — |
| Operating income | -$8.6M | -$6.6M | -$13.0M | -$2.6M | -$3.4M |
| Interest expense | $886,000 | $14,000 | — | — | — |
| Pretax income | -$7.6M | -$15.0M | -$20.8M | -$2.8M | -$2.1M |
| Income tax expense | $11,000 | $114,000 | $11,000 | $106,000 | $0 |
| Net income | -$7.6M | -$15.2M | -$20.9M | -$2.9M | -$2.1M |
| Balance Sheet | |||||
| Cash and equivalents | $15.4M | $5.2M | $4.8M | $14.2M | $769,432 |
| Current assets | $19.5M | $10.1M | $9.9M | $17.7M | $1.1M |
| Total assets | $21.4M | $12.1M | $10.7M | $18.7M | $254.1M |
| Current liabilities | $20.6M | $17.6M | $12.4M | $6.4M | $2.9M |
| Total liabilities | $27.1M | $19.3M | $12.4M | $6.7M | $21.9M |
| Stockholders' equity | -$5.7M | -$7.3M | -$2.1M | $12.0M | $13.8M |
| Cash Flow Statement | |||||
| Cash from operations | -$9.9M | -$9.2M | -$13.2M | -$1.2M | -$825,593 |
| Depreciation and amortization | $71,000 | $10,000 | $9,000 | $11,000 | — |
| Stock-based compensation | $1.1M | $1.0M | $1.2M | $1.2M | — |
| Share repurchases | — | — | — | $250.5M | $0 |
Shares outstanding 31.8M · Free float 56.7%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.