Spectral AI (NASDAQ:MDAI) Issues Quarterly Earnings Results

Spectral AI (NASDAQ:MDAI) posted its quarterly earnings data on Tuesday. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11), Zacks reports. The firm had revenue of $3.99 million for the quarter, compared to the consensus estimate of $4.13 million.

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

• Spectral AI said it still expects an FDA response by the end of Q2 2026 for its De Novo application, with a goal of moving quickly toward commercialization of DeepView by the end of 2026.
• The company received $31.7 million in accelerated BARDA funding, which it said supports additional feature development and procurement of up to 30 DeepView devices for burn and trauma settings.
• Q1 revenue was $4.0 million versus $6.7 million a year ago, mainly because the base phase of the BARDA Project BioShield contract wound down. Management said the decline was partly offset by other U.S. government work, including the handheld device program.
• The company highlighted encouraging commercial preparation, including a strong showing at the American Burn Association meeting, expanding international opportunities in the U.K., Australia, and GCC markets, and progress on an outcome study intended to support DeepView’s clinical and economic value.
• Financially, Spectral AI ended the quarter with about $11.7 million in cash, $8.5 million of debt, and reiterated full-year 2026 revenue guidance of approximately $18.5 million, excluding meaningful DeepView product sales.

Spectral AI Stock Up 7.5%

Shares of MDAI traded up $0.15 during trading hours on Thursday, hitting $2.19. 332,235 shares of the company were exchanged, compared to its average volume of 599,329. The company has a market cap of $69.82 million, a price-to-earnings ratio of -4.11 and a beta of 1.16. Spectral AI has a fifty-two week low of $1.18 and a fifty-two week high of $3.21. The firm’s fifty day moving average is $1.70 and its 200 day moving average is $1.65.

Institutional Trading of Spectral AI

Several large investors have recently modified their holdings of MDAI. Geode Capital Management LLC grew its holdings in shares of Spectral AI by 21.8% during the 2nd quarter. Geode Capital Management LLC now owns 152,958 shares of the company’s stock worth $379,000 after purchasing an additional 27,365 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Spectral AI during the 2nd quarter worth $123,000. Marshall Wace LLP acquired a new stake in shares of Spectral AI during the 2nd quarter worth $104,000. Jane Street Group LLC acquired a new stake in shares of Spectral AI during the 2nd quarter worth $74,000. Finally, Bridgeway Capital Management LLC boosted its stake in Spectral AI by 14.4% in the third quarter. Bridgeway Capital Management LLC now owns 199,000 shares of the company’s stock valued at $454,000 after buying an additional 25,000 shares in the last quarter. 67.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MDAI. BTIG Research reiterated a “buy” rating and set a $3.00 price objective on shares of Spectral AI in a research report on Wednesday, March 25th. Weiss Ratings cut Spectral AI from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $3.00.

About Spectral AI

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.