Spectral AI reports FY2023 net loss of $20.9M ($1.48/sh); guides FY2024 revenue $28M

Spectral AI, Inc.

Q4 2023 R&D revenue $5.3M; FY2023 R&D revenue $18.1M (down from $25.4M YoY).
Net loss FY2023 $20.9M vs $2.9M in FY2022; includes $8.3M non-recurring transaction costs.
Cash $4.8M at Dec 31, 2023; no long-term debt; raised $5M via prepaid advance in Q1 2024.
Guides FY2024 R&D revenue ~$28M; first commercial product revenue expected 2H 2024 from UK burn device.
Awarded up to $150M US Government contract; initiated pivotal burn study for FDA submission.

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 0.9

Spectral AI, Inc. reported financial results for the quarter and year ended December 31, 2023.

Period: the quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 27, 2024, Spectral AI, Inc. (the “Company”) reported its financial results for the quarter and year ended December 31, 2023. A copy of the press release containing this information is furnished as Exhibit 99.1 hereto and is incorporated by reference in this Item 2.02.

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Spectral AI, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-027447

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