Spectral AI Inc (NAS:MDAI)

Q1 2026 Spectral AI Inc Earnings Call Transcript

May 12, 2026 / 09:00 PM GMT

Release Date Price: $2.15 (-7.73%)

Transcript 10-Q

Key Points

Positve

Spectral AI Inc (MDAI) has submitted a de novo application to the FDA and anticipates a response by the end of Q2 2026, which could lead to the commercialization of their DeepU system by the end of the year.
The company secured $31.7 million in advanced funding from BARDA, which will support the development and procurement of up to 30 devices for burn centers and trauma centers.
Spectral AI Inc (MDAI) has expanded its leadership team, including the addition of a new CFO, and is working with Deloitte Consulting to finalize its commercialization strategy.
The company successfully delivered a prototype of its handheld device to MTEC, which is part of a Department of Defense contract, and anticipates pursuing further phases of the contract.
Spectral AI Inc (MDAI) received the Small Business Innovator Award at the Texas Innovation Conference, highlighting its commitment to developing technology that improves patient outcomes for burn victims.

Negative

R&D revenue for Q1 2026 decreased to $4 million from $6.7 million year-over-year, primarily due to the completion of work under the base phase of the company's Project BioShield contract with BARDA.
The company reported a net loss of $3.4 million for Q1 2026, compared to a net income of $2.9 million in the prior-year period.
Cash reserves decreased from $15.4 million at the end of 2025 to $11.7 million as of March 31, 2026, reflecting continued investment in R&D and commercialization initiatives.
Spectral AI Inc (MDAI) does not expect significant contributions from the sale of the DeepU system in its 2026 revenue guidance of $18.5 million.
The company faces uncertainties related to FDA approval timelines and the potential impact on its commercialization plans.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MDAI.OQ - Spectral AI Inc
Q1 2026 Spectral AI Inc Earnings Call
May 12, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day, and welcome to the Spectral AI Inc. Q1 2026 Financial Results Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero.

After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on the touchtone phone. To withdraw your question, please press star and then two.

Please note this event is being recorded.

I would now like to turn the conference over to Devin Sullivan from The Equity Group. Please go ahead.

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Unidentified_2 [2]
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