secwatch.observer — SEC 8-K summary
======================================

Issuer:     Spectral AI, Inc. (MDAI)
CIK:        0001833498
Form:       8-K
Filed at:   2024-03-29T23:59:59+00:00
Accession:  0001213900-24-027447
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833498/000121390024027447/0001213900-24-027447-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833498/000121390024027447/ea0202835-8k_spectral.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-027447

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer