Marpai, Inc. ( (MRAI) ) has released its Q4 earnings. Here is a breakdown of the information Marpai, Inc. presented to its investors.
Marpai, Inc. is a technology platform company operating as a national Third-Party Administrator (TPA), offering innovative healthcare solutions to self-funded employer health plans in the $22 billion TPA market. The company has released its financial results for the fourth quarter and full year 2024, showcasing significant improvements in its financial performance.
In the fourth quarter of 2024, Marpai reported net revenues of $6.6 million, a slight decrease from the previous quarter, while operating expenses increased slightly to $5.3 million. Despite these changes, the company managed to reduce its operating loss to $2.7 million, marking a 12.2% improvement from the previous quarter. The net loss for the quarter also showed a significant improvement, decreasing by 67.5% year over year.
For the full year 2024, Marpai’s net revenues were $28.2 million, a decrease of 24.2% from the previous year. However, the company successfully reduced its operating expenses by 23.7%, resulting in an operating loss of $22.1 million, which is a 21.1% improvement from the prior year. The net loss for the year was $22.1 million, a 23.2% improvement year over year. Notably, the company’s adjusted EBITDA loss improved significantly to $9.1 million from $20.2 million in the previous year.
Looking ahead, Marpai’s management is optimistic about the company’s future, focusing on growth and profitability. The company plans to introduce new PBM-based products in the latter half of 2025, which they believe will drive revenue growth and position Marpai for profitability by the end of 2025.