Spectral AI (NASDAQ:MDAI) Releases Quarterly Earnings Results, Meets Estimates

Spectral AI (NASDAQ:MDAI) issued its earnings results on Tuesday. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11), Zacks reports. The company had revenue of $3.99 million during the quarter, compared to analysts’ expectations of $4.13 million.

Here are the key takeaways from Spectral AI’s conference call:

• Spectral AI said it still expects an FDA response by the end of Q2 2026 for its De Novo application, with a goal of moving quickly toward commercialization of DeepView by the end of 2026.
• The company received $31.7 million in accelerated BARDA funding, which it said supports additional feature development and procurement of up to 30 DeepView devices for burn and trauma settings.
• Q1 revenue was $4.0 million versus $6.7 million a year ago, mainly because the base phase of the BARDA Project BioShield contract wound down. Management said the decline was partly offset by other U.S. government work, including the handheld device program.
• The company highlighted encouraging commercial preparation, including a strong showing at the American Burn Association meeting, expanding international opportunities in the U.K., Australia, and GCC markets, and progress on an outcome study intended to support DeepView’s clinical and economic value.
• Financially, Spectral AI ended the quarter with about $11.7 million in cash, $8.5 million of debt, and reiterated full-year 2026 revenue guidance of approximately $18.5 million, excluding meaningful DeepView product sales.

Spectral AI Stock Performance

Shares of Spectral AI stock traded down $0.16 on Wednesday, hitting $2.00. The company’s stock had a trading volume of 660,560 shares, compared to its average volume of 597,641. The company has a market capitalization of $63.48 million, a price-to-earnings ratio of -6.44 and a beta of 1.16. Spectral AI has a 1 year low of $1.18 and a 1 year high of $3.21. The firm has a fifty day moving average price of $1.69 and a 200-day moving average price of $1.65.

Institutional Trading of Spectral AI

Several institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. raised its stake in shares of Spectral AI by 1,180.0% during the 3rd quarter. Raymond James Financial Inc. now owns 12,800 shares of the company’s stock worth $29,000 after buying an additional 11,800 shares during the period. Jane Street Group LLC acquired a new stake in Spectral AI in the 2nd quarter valued at $74,000. Virtu Financial LLC purchased a new stake in Spectral AI in the 4th quarter worth $75,000. Marshall Wace LLP purchased a new stake in Spectral AI in the 2nd quarter worth $104,000. Finally, State Street Corp lifted its holdings in Spectral AI by 90.9% during the fourth quarter. State Street Corp now owns 75,600 shares of the company’s stock valued at $107,000 after purchasing an additional 36,000 shares in the last quarter. 67.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings downgraded Spectral AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and set a $3.00 price objective on shares of Spectral AI in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.00.

Spectral AI Company Profile

Spectral AI, Inc (NASDAQ: MDAI) is a technology company focused on delivering advanced analytics and insights through the application of machine learning to multi-spectral and hyperspectral data. Its core platform ingests imagery from satellites, aerial drones and ground-based sensors, applying proprietary algorithms to identify patterns and anomalies invisible to the naked eye. The company’s solutions are designed to help clients make more informed decisions in areas such as agriculture, environmental monitoring, infrastructure inspection and resource exploration.

The company offers a cloud-native software-as-a-service (SaaS) platform that enables users to visualize and analyze large volumes of spectral data via customizable dashboards.