Filing Flows › Spectral AI (MDAI) › Q1 2025
Spectral AI (MDAI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
Spectral AI (MDAI) reported revenue of $6.7M for the first quarter 2025 (Q1 2025), +6% from a year earlier and -12% from the quarter before. Operating margin was -13.4%, net earnings $2.9M (43.2% of revenue).
Spectral AI, Q1 2025: revenue $6.7M (+6% year over year), operating margin -13.4%, net earnings $2.9M, operating cash flow −$1.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.7M | -12% | +6% |
| Operating profit | −$896K | — | — |
| Net earnings | $2.9M | — | — |
| Operating cash flow | −$1.5M | -421% | — |
What changed
Revenue was $6.7M in Q1 2025, up 6% year over year and down 12% from the previous quarter.
Gross margin was 47.2%, up 0.7 points from a year earlier. Operating costs exceeded revenue by $896K, an operating margin of -13.4%. Operating expenses fell 20% while revenue rose 6%. Net earnings were $2.9M. The effective tax rate was 2.4%. Non-operating items added $3.9M, 130% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$1.5M. Non-cash charges added back $2K of depreciation and $200K of share-based compensation. Working capital and other items used $4.6M.
Questions
What was Spectral AI's revenue in the first quarter 2025?
Spectral AI (MDAI) reported revenue of $6.7M for the first quarter 2025 (Q1 2025), +6% from a year earlier and -12% from the quarter before.
Was Spectral AI profitable in the first quarter 2025?
Operating loss was $896K (-13.4% of revenue) and net earnings $2.9M.
Source: Spectral AI 10-Q on SEC EDGAR.