---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-027447"
form_type: "8-K"
ticker: "MDAI"
cik: "0001833498"
company_name: "Spectral AI, Inc."
filed_at: "2024-03-29T23:59:59+00:00"
generated_at: "2026-06-04T05:31:10.052209+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-24-027447
- form_type: 8-K
- ticker: MDAI
- cik: 0001833498
- company_name: Spectral AI, Inc.
- filed_at: 2024-03-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1833498/000121390024027447/0001213900-24-027447-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1833498/000121390024027447/ea0202835-8k_spectral.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-027447
- JSON: https://secwatch.observer/filing/0001213900-24-027447.json
- Plain text: https://secwatch.observer/filing/0001213900-24-027447.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833498/000121390024027447/0001213900-24-027447-index.htm

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