Spectral AI, Inc.
MDAI, MDAIW · Surgical & Medical Instruments & Apparatus · 31.8M shares · +17%/yr ↑ shares · EDGAR filings ↗
Grade
D42Medical-device company (AI-powered wound-imaging diagnostics) with operating losses and cash burn.
Strengths
- Liquidity — current ratio 0.94 (16th)
Risks
- Operating/net losses & cash burn — per metrics
- negative equity and weak liquidity amplify the losses — per 10-K
- Adoption/reimbursement dependence — per 10-K
Notable findings
- Weak liquidityCurrent ratio 0.94 (<1)
- Negative equityNegative book equity (debt/equity -0.97)
- Net lossNet loss (net margin -38.5%)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Chronic dilutionShare count +17%/yr over 2y (dilution)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Notable holderHeld by 2 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
45.4%
Operating margin
-43.8%
Net margin
-38.5%
Return on equity
132.2%
Return on assets
-35.4%
Revenue growth (QoQ)
-2.3%
Debt / equity
-1.0×
Current ratio
0.9×
Tangible book value
-$6M
Cash & investments
$15M
Stock comp / revenue
5.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-29 | DiMaio John Michael | Grant | 15K | $2.12 |
| 2026-05-28 | DiMaio John Michael | Grant | 2.5K | $2.36 |
| 2026-05-26 | DiMaio John Michael | Grant | 32K | $2.61 |
| 2026-05-18 | Cotton Richard John | Grant | 8.8K | $2.40 |
| 2026-05-15 | DiMaio John Michael | Grant | 25K | $2.16 |
| 2026-05-15 | Cotton Richard John | Grant | 5.9K | $2.33 |
| 2026-05-15 | DiMaio John Michael | Grant | 1.9K | $2.12 |
| 2026-04-24 | Snyder Marion Ann | Grant | 25K | — |
| 2026-04-24 | Sadagopan Deepak | Grant | 25K | — |
| 2026-04-24 | DiMaio John Michael | Grant | 100K | — |
| 2026-04-24 | Cotton Richard John | Grant | 30K | — |
| 2026-04-24 | Capone Vincent S. | Grant | 100K | — |
| 2026-03-27 | DiMaio John Michael | Grant | 7.6K | $1.58 |
| 2026-03-27 | Capone Vincent S. | Grant | 17K | $1.52 |
| 2025-06-10 | DiMaio John Michael | Grant | 9.7K | $2.11 |
| 2025-06-09 | DiMaio John Michael | Grant | 2.0K | $2.10 |
| 2025-06-04 | Mellish Martin C.B. | Grant | 5.0K | $1.73 |
| 2025-04-30 | Cotton Richard John | Grant | 9.7K | — |
| 2025-04-30 | Mellish Martin C.B. | Grant | 9.7K | — |
| 2025-04-30 | Capone Vincent S. | Grant | 100K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-01 | Shareholder voteReg FDExhibits | filing ↗ |
| 2026-05-26 | Reg FDExhibits | filing ↗ |
| 2026-04-22 | Exec/director changeExhibits | filing ↗ |
| 2026-04-08 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-03-25 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-20 | Reg FDExhibits | filing ↗ |
| 2026-02-10 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-02-03 | Exec/director changeExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-01 | 2026-05-29 | 0001213900-26-063486 ↗ |
| 8-K | 2026-05-26 | 2026-05-26 | 0001213900-26-061008 ↗ |
| 10-Q | 2026-05-13 | 2026-03-31 | 0001213900-26-055226 ↗ |
| 8-K | 2026-04-22 | 2026-04-17 | 0001213900-26-046405 ↗ |
| 8-K | 2026-04-08 | 2026-04-03 | 0001213900-26-041479 ↗ |
| 10-K | 2026-03-25 | 2025-12-31 | 0001213900-26-033808 ↗ |
| 8-K | 2026-03-25 | 2026-03-24 | 0001213900-26-034047 ↗ |
| 8-K | 2026-03-20 | 2026-03-18 | 0001213900-26-032325 ↗ |
| 8-K | 2026-02-10 | 2026-02-09 | 0001213900-26-014251 ↗ |
| 8-K | 2026-02-03 | 2026-02-01 | 0001213900-26-011432 ↗ |
| 8-K | 2026-01-06 | 2026-01-05 | 0001213900-26-001781 ↗ |
| 10-Q | 2025-11-13 | 2025-09-30 | 0001213900-25-109409 ↗ |