Filing Flows › Marpai (MRAI) › Q3 2025
Marpai (MRAI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
Marpai (MRAI) reported revenue of $4.0M for the third quarter 2025 (Q3 2025), -42% from a year earlier and -13% from the quarter before. Operating margin was -68.6%, net loss $3.5M (86.5% of revenue).
Marpai, Q3 2025: revenue $4.0M (-42% year over year), operating margin -68.6%, net loss $3.5M, operating cash flow $634K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.0M | -13% | -42% |
| Operating profit | −$2.8M | — | — |
| Net earnings | −$3.5M | — | — |
| Operating cash flow | $634K | — | — |
What changed
Revenue was $4.0M in Q3 2025, down 42% year over year and down 13% from the previous quarter.
Operating costs exceeded revenue by $2.8M, an operating margin of -68.6%. Total costs fell 32% while revenue fell 42%. The quarter ended with a net loss of $3.5M, narrower than the previous quarter's $4.4M loss.
Operating cash flow was $634K. Non-cash charges added back $107K of depreciation and amortization and $415K of share-based compensation. Working capital and other items added $3.6M.
Questions
What was Marpai's revenue in the third quarter 2025?
Marpai (MRAI) reported revenue of $4.0M for the third quarter 2025 (Q3 2025), -42% from a year earlier and -13% from the quarter before.
Was Marpai profitable in the third quarter 2025?
Operating loss was $2.8M (-68.6% of revenue) and net loss $3.5M.
Source: Marpai 10-Q on SEC EDGAR.