Spectral AI (NASDAQ:MDAI) Issues Earnings Results

Spectral AI (NASDAQ:MDAI) issued its quarterly earnings data on Tuesday. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates 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

Shares of NASDAQ MDAI traded down $0.18 during trading hours on Tuesday, hitting $2.15. 790,425 shares of the stock were exchanged, compared to its average volume of 596,340. The company’s fifty day simple moving average is $1.67 and its two-hundred day simple moving average is $1.65. The company has a market cap of $68.41 million, a PE ratio of -6.94 and a beta of 1.16. Spectral AI has a 1-year low of $1.18 and a 1-year high of $3.21.

Analysts Set New Price Targets

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

Institutional Trading of Spectral AI

Hedge funds have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP acquired a new stake in Spectral AI in the fourth quarter valued at approximately $2,168,000. Bridgeway Capital Management LLC boosted its stake in shares of Spectral AI by 14.4% during the third quarter. Bridgeway Capital Management LLC now owns 199,000 shares of the company’s stock valued at $454,000 after purchasing an additional 25,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Spectral AI by 21.8% during the second quarter. Geode Capital Management LLC now owns 152,958 shares of the company’s stock valued at $379,000 after purchasing an additional 27,365 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Spectral AI during the second quarter valued at about $123,000. Finally, State Street Corp boosted its stake in shares of 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. Institutional investors and hedge funds own 67.08% of the company’s stock.

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.