---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-023909"
form_type: "8-K"
ticker: "MRAI"
cik: "0001844392"
company_name: "Marpai, Inc."
filed_at: "2022-11-09T23:59:59+00:00"
generated_at: "2026-06-22T01:57:55.566939+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-22-023909
- form_type: 8-K
- ticker: MRAI
- cik: 0001844392
- company_name: Marpai, Inc.
- filed_at: 2022-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1844392/000095017022023909/0000950170-22-023909-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1844392/000095017022023909/mrai-20221109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-023909
- JSON: https://secwatch.observer/filing/0000950170-22-023909.json
- Plain text: https://secwatch.observer/filing/0000950170-22-023909.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1844392/000095017022023909/0000950170-22-023909-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.