Spectral AI Q2 2025 revenue down 32% to $5.1M; net loss widens to $7.9M

Spectral AI, Inc.

2025-Q2 EPS reported -$0.21 revenue$11,772,000

R&D revenue $5.1M in Q2 2025 vs. $7.5M in Q2 2024 (down 32.0%), reflecting completion of BARDA clinical trials.
Net loss of $(7.9)M in Q2 2025 vs. $(2.9)M in Q2 2024, primarily due to $(5.4)M fair value change in warrant liability.
Cash improved to $10.5M as of June 30, 2025, from $5.2M at Dec 31, 2024, aided by $8.5M debt draw and $2.7M equity.
Submitted De Novo application to FDA in June 2025 for the DeepView System, a key regulatory milestone.
Reiterated FY 2025 revenue guidance of approximately $21.5M, excluding commercial contributions from DeepView.

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