Spectral AI, Inc. income statement
In fiscal 2025, Spectral AI, Inc. reported revenue of $19.6m, down 33.6% on the year before, operating income of −$8.6m (a -43.8% margin) and net income of −$7.6m, or −$0.29 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|
| Revenue | 25 | 18 | 30 | 20 | 15 |
| Cost of revenue | 15 | 10 | 16 | 11 | 9 |
| Gross profit | 11 | 8 | 13 | 9 | 7 |
| Research and development | 17 | 15 | — | — | — |
| General and administrative | 13 | 21 | 20 | 18 | 16 |
| Operating income | −3 | −13 | −7 | −9 | −12 |
| Interest expense | — | — | −0 | 1 | 1 |
| Net interest income | 13 | — | — | — | — |
| Income before tax | −3 | −21 | −15 | −8 | −10 |
| Income tax | 0 | 0 | 0 | 0 | 0 |
| Net income | −3 | −21 | −15 | −8 | −10 |
| Diluted EPS | −$0.22 | −$1.48 | −$0.85 | −$0.29 | −$0.34 |
| Diluted shares (average) | 13m | 14m | 18m | 27m | 30m |
| EBITDA | −3 | −13 | −7 | −9 | −12 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8,173 | 7,604 | 6,707 | 5,065 | 3,792 | 4,086 | 3,991 | 3,524 |
| Cost of revenue | 4,506 | 4,256 | 3,539 | 2,775 | 2,171 | 2,240 | 1,964 | 2,411 |
| Gross profit | 3,667 | 3,348 | 3,168 | 2,290 | 1,621 | 1,846 | 2,027 | 1,113 |
| Research and development | — | — | 3,600 | 1,457 | 6,230 | — | 2,000 | 1,696 |
| Selling and marketing | — | — | — | 340 | — | — | — | 653 |
| General and administrative | 4,553 | 4,459 | 4,064 | 2,616 | 4,962 | 4,089 | 3,998 | 3,088 |
| Operating income | −886 | −1,111 | −896 | −2,123 | −3,341 | −2,243 | −1,971 | −4,324 |
| Interest expense | 8 | — | 20 | 120 | 300 | 289 | 258 | 378 |
| Income before tax | −1,467 | −7,599 | 2,968 | −7,987 | −3,550 | 1,009 | −3,422 | −4,006 |
| Income tax | 37 | −14 | 71 | −19 | 2 | −43 | −10 | 170 |
| Net income | −1,504 | −7,585 | 2,897 | −7,968 | −3,552 | 1,052 | −3,412 | −4,176 |
| Diluted EPS | −$0.08 | −$0.41 | $0.11 | −$0.31 | −$0.13 | $0.05 | −$0.11 | −$0.13 |
| EBITDA | −885 | −1,107 | −894 | −2,113 | −3,311 | −2,214 | −1,941 | −4,294 |
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