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

Spectral AI (NASDAQ:MDAI) announced its quarterly earnings data on Tuesday. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11), Zacks reports.

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

NASDAQ MDAI traded down $0.18 during trading on Tuesday, hitting $2.15. The stock had a trading volume of 790,425 shares, compared to its average volume of 596,340. Spectral AI has a 12 month low of $1.18 and a 12 month high of $3.21. The company’s 50-day moving average price is $1.67 and its two-hundred day moving average price is $1.65. The company has a market capitalization of $68.41 million, a PE ratio of -6.94 and a beta of 1.16.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MDAI. Geode Capital Management LLC grew its stake in Spectral AI by 21.8% in the 2nd quarter. Geode Capital Management LLC now owns 152,958 shares of the company’s stock valued at $379,000 after buying an additional 27,365 shares during the last quarter. XTX Topco Ltd acquired a new position in Spectral AI in the 2nd quarter valued at about $123,000. Marshall Wace LLP acquired a new position in Spectral AI in the 2nd quarter valued at about $104,000. Jane Street Group LLC acquired a new position in Spectral AI in the 2nd quarter valued at about $74,000. Finally, Bridgeway Capital Management LLC grew its stake in Spectral AI by 14.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 199,000 shares of the company’s stock valued at $454,000 after buying an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 67.08% of the company’s stock.

Analysts Set New Price Targets

MDAI has been the topic of several analyst reports. BTIG Research reiterated a “buy” rating and issued a $3.00 target price on shares of Spectral AI in a report on Wednesday, March 25th. Weiss Ratings lowered shares of Spectral AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Spectral AI currently has a consensus rating of “Hold” and a consensus 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.