Spectral AI, Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
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, | |||
|---|---|---|---|
| 2024 · 2023 | |||
| Cash flows from operating activities: | |||
| Net loss | $(15,315) | $(20,854) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation expense | 10 | 9 | |
| Stock-based compensation | 1,032 | 1,243 | |
| Amortization of right-of-use assets | 578 | 713 | |
| Issuance of shares for transaction costs | - | 4,350 | |
| Change in fair value of warrant liabilities | 4,633 | (335) | |
| Change in fair value of notes payable | 220 | - | |
| Costs from issuance of common stock | 372 | - | |
| Issuance of shares for borrowing related costs | 1,143 | - | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (159) | (52) | |
| Inventory | (195) | (230) | |
| Unbilled revenue | - | 618 | |
| Prepaid expenses | 163 | (377) | |
| Other assets | 55 | (404) | |
| Accounts payable | 1,426 | (935) | |
| Accrued expenses | (1,090) | 1,359 | |
| Deferred revenue | (1,351) | 2,311 | |
| Lease liabilities | (721) | (656) | |
| Net cash used in operating activities | (9,199) | (13,240) | |
| Cash flows from financing activities: | |||
| Proceeds from issuance of common stock | 4,060 | 3,351 | |
| Cash received in Business Combination | - | 660 | |
| Proceeds from notes payable | 12,096 | - | |
| Proceeds from notes payable - related party | 1,000 | - | |
| Payments for notes payable | (7,758) | (483) | |
| Stock option exercises | 177 | 316 | |
| Net cash provided by financing activities | 9,575 | 3,844 | |
| Effect of exchange rate changes on cash | (9) | 12 | |
| Net increase (decrease) in cash | 367 | (9,384) | |
| Cash, beginning of period | 4,790 | 14,174 | |
| Cash, end of period | $5,157 | $4,790 | |
| Supplemental cash flow information: | |||
| Cash paid for interest | $11 | $29 | |
| Cash paid for taxes | $11 | $114 | |
| Noncash operating and financing activities disclosure: | |||
| Recognition of Right-of-use assets and related lease liabilities upon lease amendment | $1,771 | $483 | |
| Issuance of common stock for net liabilities upon Business Combination | $ | - | $3,034 |
| Prepaid asset acquired, net of cancellation, for debt and accounts payable | $ | - | $744 |
| Issuance of common stock to settle accounts and notes payable | $3,207 | $150 | |
| Deferred offering costs included in accrued expenses | $ | - | $182 |
| Issuance of common stock to settle deferred offering costs | $ | - | $101 |
The accompanying notes are an integral part of these consolidated financial statements** **
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