Filing Flows › Spectral AI (MDAI) › Q2 2026
Spectral AI (MDAI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 11, 2026
Spectral AI (MDAI) reported revenue of $3.5M for the second quarter 2026 (Q2 2026), -30% from a year earlier and -12% from the quarter before. Operating margin was -122.7%, net loss $4.2M (118.5% of revenue).
Spectral AI, Q2 2026: revenue $3.5M (-30% year over year), operating margin -122.7%, net loss $4.2M, operating cash flow −$4.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.5M | -12% | -30% |
| Operating profit | −$4.3M | — | — |
| Net earnings | −$4.2M | — | — |
| Operating cash flow | −$4.1M | — | — |
What changed
Revenue was $3.5M in Q2 2026, down 30% year over year and down 12% from the previous quarter.
Gross margin was 31.6%, down 13.6 points from Q2 2025. Operating costs exceeded revenue by $4.3M, an operating margin of -122.7%. Operating expenses grew 23% against a revenue fall of 30%. The fastest-growing cost line was Sales & marketing (+92%). The quarter ended with a net loss of $4.2M, wider than the previous quarter's $3.4M loss.
Operating cash flow was −$4.1M. Non-cash charges added back $30K of depreciation and $807K of share-based compensation. Working capital and other items used $758K.
Questions
What was Spectral AI's revenue in the second quarter 2026?
Spectral AI (MDAI) reported revenue of $3.5M for the second quarter 2026 (Q2 2026), -30% from a year earlier and -12% from the quarter before.
Was Spectral AI profitable in the second quarter 2026?
Operating loss was $4.3M (-122.7% of revenue) and net loss $4.2M.
Source: Spectral AI 10-Q on SEC EDGAR.