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Spectral AI vs Medinotec: MDAI and MDNC compared
Spectral AI is the larger company: $3.5M of revenue in its latest quarter (Q2 2026) against $3.2M for Medinotec (Q2 FY27). Medinotec is growing faster (-1% against -30% a year earlier). Medinotec is more profitable, with an operating margin of 6.3% against -122.7%.
Where the money goes: MDAI and MDNC
Spectral AI (MDAI) · Q2 2026
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.
Medinotec (MDNC) · Q2 FY27
Medinotec, Q2 FY27: revenue $3.2M (-1% year over year), operating margin 6.3%, net earnings $41K, operating cash flow $108K. The chart follows the revenue to costs, profit and cash.
| Spectral AI (MDAI) | Medinotec (MDNC) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q2 FY27 |
| Revenue | $3.5M | $3.2M |
| Revenue growth, Y/Y | -30% | -1% |
| Gross margin | — | 48.7% |
| Operating margin | -122.7% | 6.3% |
| Net earnings | −$4.2M | $41K |
| Net margin | -118.5% | 1.3% |
| Operating cash flow | −$4.1M | $108K |
| Free cash flow | — | $61K |
Where the revenue comes from
Medinotec
- Outside the United States: $3.0M (94%)
- Inside U S A Internally Designed Manufactured Sales: $200K (6%)
Questions
Which is bigger, Spectral AI or Medinotec?
Spectral AI is the larger company: $3.5M of revenue in its latest quarter (Q2 2026) against $3.2M for Medinotec (Q2 FY27).
Is Spectral AI or Medinotec growing faster?
Medinotec is growing faster (-1% against -30% a year earlier).
Which is more profitable, Spectral AI or Medinotec?
Medinotec is more profitable, with an operating margin of 6.3% against -122.7%.
More: Spectral AI earnings · how Spectral AI makes money · Medinotec earnings · how Medinotec makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 11, 2026; 10-Q filed Oct 8, 2026). Fiscal quarters can end on different dates. Not investment advice.