Spectral AI Q1 net income $2.9M; cash $14.1M; FDA De Novo submission planned H1 2025

Spectral AI, Inc.

2025-Q1 EPS reported $0.11 revenue$6,707,000

Q1 2025 R&D revenue $6.7M (+6% YoY); net income $2.9M vs net loss $(3.2)M in Q1 2024.
Net income largely driven by $4.4M non-cash decrease in warrant liability fair value.
Cash improved to $14.1M at March 31, 2025 from $5.2M at Dec 2024.
Debt financing of $15M from Avenue Capital; initial draw $8.5M; also raised $2.7M equity.
Burn Validation Study completed with 164 patients; FY 2025 revenue guidance reiterated at ~$21.5M.

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