Spectral AI Q3 revenue $3.4M, net loss $10.6M; affirms FY2023 guidance $17.4M

Spectral AI, Inc.

2023-Q3 EPS reported -$1.29 revenue$12,769,000

Q3 revenue $3.4M (down 51% YoY); net loss $10.6M ($0.77/share) vs loss $0.4M in Q3 2022.
Adjusted EBITDA loss $3.9M vs $0.0M; non-recurring transaction costs $7.6M from Nasdaq listing.
Cash $7.3M, no long-term debt; reaffirms FY2023 revenue ~$17.4M and FY2024 ~$28.0M.
Received $149M U.S. government contract for DeepView System burn indication (total govt awards >$246M).
Plans to submit FDA/UKCA/CE mark apps for DFU and 3D wound measurement in 2024; burn in 2025.

item 2.02 item 7.01 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

Spectral AI, Inc. reported the third quarter ended September 30, 2023 results: revenue $3.4 million, net income Net loss was $(10.6) million, EPS $(0.77) per share. Guidance reaffirmed.

Period: the third quarter ended September 30, 2023
Revenue: $3.4 million
Net income: Net loss was $(10.6) million
EPS: $(0.77) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Q3 2023 FINANCIAL RESULTS OVERVIEW All comparisons are to the third quarter ended September 30, 2022 (“Q3 2022”) unless otherwise stated. ● Research & Development Revenue 1 was $3.4 million compared to $7.0 million, primarily due to decreased research and development work performed pursuant to the BARDA Burn II contract as clinical trials under this contract were

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Source: SEC EDGAR

accession 0001213900-23-086606

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