Spectral AI Inc
For the period ended Dec 31, 2023. Filed Mar 29, 2024.
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FY2023 · Filed Mar 29, 2024
MDAI$1.54+0.7%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | ||||
|---|---|---|---|---|
| 2023 · 2022 | ||||
| Cash flows from operating activities: | ||||
| Net loss | $(20,854) | $(2,912) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Depreciation expense | 9 | 11 | ||
| Stock-based compensation | 1,243 | 1,155 | ||
| Amortization of right-of-use assets | 713 | 557 | ||
| Issuance of shares for transaction costs | 4,350 | - | ||
| Change in fair value of warrant liabilities | (335) | (57) | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | (52) | (859) | ||
| Inventory | (230) | - | ||
| Unbilled revenue | 618 | (547) | ||
| Prepaid expenses | (377) | 615 | ||
| Other assets | (404) | 40 | ||
| Accounts payable | (935) | 1,345 | ||
| Accrued expenses | 1,359 | 51 | ||
| Deferred revenue | 2,311 | - | ||
| Lease liabilities | (656) | (561) | ||
| Net cash used in operating activities | (13,240) | (1,162) | ||
| Cash flows from financing activities: | ||||
| Proceeds from issuance of common stock for Equity Raise | 3,351 | - | ||
| Cash received in Business Combination | 660 | - | ||
| Payments for notes payable | (483) | (785) | ||
| Stock option exercises | 316 | - | ||
| Net cash provided by (used in) financing activities | 3,844 | (785) | ||
| Effect of exchange rate changes on cash | 12 | - | ||
| Net decrease in cash | (9,384) | (1,947) | ||
| Cash, beginning of period | 14,174 | 16,121 | ||
| Cash, end of period | $4,790 | $14,174 | ||
| Supplemental cash flow information: | ||||
| Cash paid for interest | $29 | $23 | ||
| Cash paid for taxes | $114 | $53 | ||
| Noncash operating and financing activities disclosure: | ||||
| Recognition of Right-of-use assets and related lease liabilities upon adoption of ASC 842 | $ | - | $610 | |
| Recognition of Right-of-use assets and related lease liabilities upon lease amendment | $483 | $955 | ||
| Issuance of common stock for net liabilities upon Business Combination | $3,034 | $ | - | |
| Prepaid asset acquired, net of cancellation, for debt and accounts payable | $744 | $376 | ||
| Issuance of common stock to settle accounts payable | $150 | $ | - | |
| Deferred offering costs included in accrued expenses | $182 | $ | - | |
| Issuance of common stock to settle deferred offering costs | $101 | $ | - | |
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