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AI brief of an SEC Form 8-K · Spectral AI, Inc. (MDAI)

Spectral AI Q2 revenue falls to $3.5 million; net loss narrows to $4.2 million

Mixed Impact 3 of 5 earnings Written later

Spectral AI reported second-quarter 2026 results on August 11, 2026. Revenue fell to $3.5 million from $5.1 million, gross margin dropped to 31.6% from 45.2%, and the operating loss widened to $4.3 million from $2.1 million. The net loss narrowed to $4.2 million because of a $0.7 million warrant liability gain, and the company reiterated its 2026 revenue guidance of about $18.5 million.

Key points

  • Q2 2026 revenue was $3.5 million versus $5.1 million a year earlier, reflecting lower reimbursed costs under the BARDA contract.
  • Q2 2026 net loss was $4.2 million, or $0.13 per share, versus $8.0 million, or $0.31 per share, mainly due to a warrant liability fair value change.
  • Operating expenses rose to $5.4 million from $4.4 million, and gross margin fell to 31.6% from 45.2%.
  • Cash was $14.0 million at June 30, 2026, and the company reiterated 2026 revenue guidance of about $18.5 million.

The filing

CompanySpectral AI, Inc. (MDAI)
Form8-K, current report
Filed with the SECAug 12, 2026, 4:03 PM ET
Accession number0001213900-26-088341

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 11:44 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 12, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.