secwatch.observer — SEC 8-K summary
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Issuer:     Spectral AI, Inc. (MDAI)
CIK:        0001833498
Form:       8-K
Filed at:   2026-03-25T23:59:59+00:00
Accession:  0001213900-26-034047
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spectral AI Q4 net income $0.6M; FY 2025 revenue $19.7M; guides 2026 revenue ~$18.5M
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- Q4 2025 net income $0.6M ($0.02 diluted EPS) vs net loss ($7.7M) in Q4 2024.
- FY 2025 net loss narrowed to ($7.6M) from ($15.3M); R&D revenue $19.7M (down from $29.6M).
- Cash at Dec 31, 2025 rose to $15.4M from $5.2M at Dec 31, 2024.
- Received additional $31.7M BARDA funding; total BARDA contract up to $150M; De Novo 510(k) submitted for DeepView burn indication.
- 2026 revenue guidance ~$18.5M, primarily from BARDA contract; no material product sales expected.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833498/000121390026034047/0001213900-26-034047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833498/000121390026034047/ea0283435-8k_spectral.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-034047

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