Marpai Q3 revenue $4.9M, down 11% sequentially; employee count drops 22%

Marpai, Inc.

2022-Q3 EPS reported -$0.90 revenue$16,713,420

Net revenue $4.9M for Q3 2022 vs $5.6M in Q2 2022, decline of 11.1%.
Covered employees fell to 16,357 from 21,074 sequentially; three non-renewed customers accounted for >4,000 employees.
Operating expenses $10.8M (excl. stock comp $10.1M); net loss $5.8M.
Adjusted negative EBITDA $4.3M for Q3 vs $4.7M in Q2.
Company cites contractual non-fulfillment by three customers as primary reason for revenue drop.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Marpai, Inc. reported third quarter ended September 30, 2022 results: revenue approximately $4.9 million, net income approximately $5.8 million (net loss).

Period: third quarter ended September 30, 2022
Revenue: approximately $4.9 million
Net income: approximately $5.8 million (net loss)
Result: reported results

Exact text from the filing

and the results of Marpai Administrators, LLC (formerly Continental Benefits, LLC) since its acquisition on April 1, 2021. Financial Highlights • Net revenue of approximately $4.9 million for the three months ended September 30, 2022, compared to net revenue of approximately $5.6 million for the three months ended June 30, 2022, representing a sequential decrease

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Marpai, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-22-023909

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