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Spectral AI, Inc. key statistics and ratios

In fiscal 2025, Spectral AI, Inc. had a net margin of -38.5%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Net margin−11.5%−115.5%−51.2%−38.5%−65.5%
Return on equity−24.3%————
Return on assets−15.6%−141.8%−133.0%−45.2%−49.4%
R&D as % of revenue65.0%83.6%———

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 5 checks passed · June 30, 2026
What it owns · $19m
Short-term assets $18mLonger-term assets $2m
What it owes, and who funded it · $31m
Short-term liabilities $20mLonger-term liabilities $12mShareholders' equity $-12m
  • Short-term assets cover short-term liabilities $18m of assets due within a year against $20m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $18m short-term assets against $12m of longer-dated liabilities.
  • More cash than debt $14m of cash against $12m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$13m of operating cash flow against $12m of debt.
  • Operating profit covers interest at least five times over Operating income of −$12m against $1m of interest.

From Spectral AI, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Spectral AI, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Spectral AI, Inc.