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Spectral AI ( (MDAI) ) has issued an update.
Spectral AI, Inc., a Dallas-based predictive AI company focused on wound care diagnostics for burn patients through its DeepView System, reported financial results for the fourth quarter and full year ended December 31, 2025. The company, which aims to improve clinical decision-making and reduce costs via algorithm-driven burn assessment tools, also highlighted its recognition on TIME’s 2025 list of leading HealthTech companies.
On March 24, 2026, Spectral AI announced that 2025 research and development revenue fell to $19.7 million, with fourth-quarter revenue at $3.8 million, as reimbursed BARDA contract activity tapered following its De Novo 510(k) submission for DeepView’s burn indication. Despite lower revenue, the company swung to net income of $0.6 million in Q4 2025 and cut its full-year net loss to $7.6 million, helped by warrant liability gains, reduced borrowing costs, and operating efficiencies, while cash rose to $15.4 million and BARDA awarded an additional $31.7 million in non-dilutive funding to advance DeepView feature development.
Management described 2025 as a pivotal year marked by regulatory progress with the FDA and strong reception of DeepView at burn conferences in the U.S., U.K., and Europe, underscoring momentum toward commercialization. For 2026, Spectral AI projected approximately $18.5 million in revenue primarily from continued BARDA-backed development work, signaling that meaningful sales contributions from the DeepView System’s burn indication are expected to follow, rather than drive, near-term results.
The most recent analyst rating on (MDAI) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Spectral AI stock, see the MDAI Stock Forecast page.
Spark’s Take on MDAI Stock
According to Spark, TipRanks’ AI Analyst, MDAI is a Neutral.
The score is held down primarily by weak financial performance (revenue contraction, large losses, negative equity, and ongoing cash burn). Technicals provide a partial offset with improving near-term momentum, while valuation remains constrained by unprofitability and no dividend support. The latest earnings call was mixed, with solid liquidity and FDA progress outweighed by reduced guidance and worsening near-term profitability.
To see Spark’s full report on MDAI stock, click here.
More about Spectral AI
Spectral AI, Inc. is a Dallas-based predictive artificial intelligence company specializing in medical diagnostics to support faster and more accurate treatment decisions in wound care, with initial applications in burn patients. Its proprietary DeepView System is being developed as a predictive diagnostic device to objectively assess burn wounds’ healing potential, aiming to improve outcomes and reduce healthcare costs, and the company was named to TIME’s 2025 list of top HealthTech firms.
The DeepView platform combines algorithm-driven analysis with imaging to give clinicians immediate insight into wound status ahead of treatment, positioning Spectral AI at the intersection of AI and advanced wound management. By targeting value-based care and seeking to exceed current standards in burn assessment, the company is building a niche in high-acuity, technology-enabled diagnostics within the broader healthcare AI market.
Average Trading Volume: 604,805
Technical Sentiment Signal: Sell
Current Market Cap: $50.64M
For detailed information about MDAI stock, go to TipRanks’ Stock Analysis page.