Filing Flows › Spectral AI (MDAI) › Q1 2026 › vs Q1 2025
Spectral AI (MDAI) Q1 2026 vs Q1 2025 (year over year)
Spectral AI's revenue fell $2.7M (-40%) from $6.7M in Q1 2025 to $4.0M in Q1 2026.
Spectral AI, Q1 2026: revenue $4.0M (-40% year over year), operating margin -49.4%, net loss $3.4M, operating cash flow −$3.7M. The chart draws each line against Q1 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $4.0M | $6.7M | −$2.7M | -40% |
| Income tax benefit | $10K | −$71K | $81K | — |
| Net loss | $3.4M | −$2.9M | $6.3M | — |
| Costs & expenses | $7.4M | $10.6M | −$3.2M | -30% |
| Operating costs | $6.0M | $7.6M | −$1.6M | -22% |
| Interest & other, net | $1.5M | −$3.9M | $5.3M | — |
| Cost of revenue | $2.0M | $3.5M | −$1.6M | -45% |
| Operating expenses | $4.0M | $4.1M | −$66K | -2% |
| Operating cash sources | $3.9M | $1.7M | $2.2M | +131% |
| Depreciation | $30K | $2K | $28K | 15× |
| Share-based compensation | $183K | $200K | −$17K | -8% |
| Cash used in operations | $3.7M | $1.5M | $2.2M | +148% |
| Net loss absorbed | $3.4M | −$2.9M | $6.3M | — |
| Working capital & other | $529K | $4.6M | −$4.1M | -89% |
Questions
How much did Spectral AI's revenue grow year over year in Q1 2026?
Spectral AI's revenue fell $2.7M (-40%) from $6.7M in Q1 2025 to $4.0M in Q1 2026.