Revenue: As of FY2025 Q4, the actual value is USD 3.849 M.

EPS: As of FY2025 Q4, the actual value is USD 0.02.

EBIT: As of FY2025 Q4, the actual value is USD 890 K.

Financial and Operational Metrics for Spectral AI, Inc.

Research & Development Revenue

• Q4 2025: $3,849 thousand, compared to $7,604 thousand in Q4 2024 .
• FY 2025: $19,650 thousand, a decrease from $29,581 thousand in FY 2024 .

Gross Margin

• Q4 2025: 39.8%, down from 44.0% in Q4 2024 .
• FY 2025: 45.4%, an increase from 44.9% in FY 2024 .

General & Administrative Expense

• Q4 2025: $4,012 thousand, a reduction from $4,459 thousand in Q4 2024 .
• FY 2025: $17,528 thousand, down from $19,856 thousand in FY 2024 .

Operating Loss

• Q4 2025: - $2,481 thousand, compared to - $1,111 thousand in Q4 2024 .
• FY 2025: - $8,603 thousand, compared to - $6,582 thousand in FY 2024 .

Total Operating Costs and Expenses

• Q4 2025: $4,012 thousand, compared to $4,459 thousand in Q4 2024 .
• FY 2025: $17,528 thousand, compared to $19,586 thousand in FY 2024 .

Net Income/(Loss)

• Q4 2025: $642 thousand, compared to a net loss of - $7,742 thousand in Q4 2024 .
• FY 2025: Net loss of - $7,571 thousand, an improvement from a net loss of - $15,315 thousand in FY 2024 .

Cash Position

• As of December 31, 2025, cash increased to $15,394 thousand from $5,157 thousand as of December 31, 2024 .

Cash Flows from Operating Activities

• FY 2025: Net cash used in operating activities was - $9,920 thousand, compared to - $9,198 thousand in FY 2024 .

Unique Metrics: BARDA Funding

• The Company received an additional $31.7 million in funding from the Biomedical Advanced Research and Development Authority (BARDA) to support the development of additional features for the DeepView System .
• The Company committed an additional $9.7 million to the total development costs for these advancements .
• This funding is in addition to $54.9 million committed to date as part of the current BARDA contract, which is valued at up to $150.0 million .

2026 Guidance

• Spectral AI, Inc. forecasts revenue of approximately $18.5 million for the year ending December 31, 2026 . This projection primarily reflects the continued development of the DeepView System through the BARDA PBS Contract . The guidance does not include any material contributions from the sale of the DeepView System for the burn indication .