SPECTRAL AI INC C/WTS (TO PUR COM) | 8-K: FY2025 Q1 Revenue: USD 6.707 M

Revenue: As of FY2025 Q1, the actual value is USD 6.707 M.

EBIT: As of FY2025 Q1, the actual value is USD 2.968 M.

Segment Revenue

• Research & Development Revenue: Increased by 6.0% to $6.7 million in Q1 2025 from $6.3 million in Q1 2024, primarily due to increased activity under the BARDA PBS Contract.

Operational Metrics

• Gross Margin: Improved to 47.2% in Q1 2025 from 46.6% in Q1 2024, attributed to a higher concentration of direct labor as a component of reimbursement under the BARDA PBS Contract.
• General & Administrative Expenses: Reduced to $4.1 million in Q1 2025 from $5.1 million in Q1 2024, reflecting a focus on the BARDA PBS Contract.
• Net Income: Reported net income of $2.9 million in Q1 2025, compared to a net loss of - $3.2 million in Q1 2024, primarily due to changes in the fair value of the Company’s warrant liability.

Cash Flow

• Cash Position: Improved to $14.1 million as of March 31, 2025, from $5.2 million at December 31, 2024, supported by a debt financing agreement and equity financing.

Unique Metrics

• Change in Fair Value of Warrant Liability: Recorded a decrease of $4.4 million in Q1 2025, contributing significantly to the net income.

Outlook / Guidance

• The Company reiterates its revenue guidance of approximately $21.5 million for FY 2025, excluding contributions from the sale of the DeepView System for burn indication or any additional material financial contributions from its commercialization.