Spectral AI, Inc.
For the period ended Dec 31, 2025. Filed Mar 25, 2026.
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FY2025 · Filed Mar 25, 2026
MDAI$1.53+2.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
(in thousands, except share and per share data)
| December 31, | December 31, | |
|---|---|---|
| 2025 | 2024(1) | |
| Assets | ||
| Current assets: | ||
| Cash | $15,394 | $5,157 |
| Accounts receivable, net | 1,267 | 2,505 |
| Inventory | 838 | 425 |
| Prepaid expenses | 821 | 1,289 |
| Other current assets | 1,133 | 746 |
| Total current assets | 19,453 | 10,122 |
| Non-current assets: | ||
| Property and equipment, net | 258 | 2 |
| Right-of-use assets | 1,407 | 1,971 |
| Other assets | 287 | - |
| Total Assets | $21,405 | $12,095 |
| Commitments and contingencies (Note 7) | ||
| Liabilities and Stockholders’ Equity (Deficit) | ||
| Current liabilities: | ||
| Accounts payable | $3,010 | $4,035 |
| Accrued expenses | 2,341 | 3,210 |
| Deferred revenue | 154 | 960 |
| Lease liabilities, short-term | 734 | 201 |
| Notes payable | 2,854 | 422 |
| Notes payable – at fair value | - | 2,365 |
| Warrant liabilities | 11,533 | 6,451 |
| Total current liabilities | 20,626 | 17,644 |
| Notes payable, long-term | 5,538 | - |
| Lease liabilities, long-term | 968 | 1,702 |
| Total Liabilities | 27,132 | 19,346 |
| Stockholders’ Deficit | ||
| Preferred stock ($0.0001 par value); 1,000,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and December 31, 2024 | - | - |
| Common stock ($0.0001 par value); 80,000,000 shares authorized; 30,688,895 and 22,594,877 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 3 | 2 |
| Additional paid-in capital | 50,030 | 40,973 |
| Accumulated other comprehensive income | 40 | 3 |
| Accumulated deficit | (55,800) | (48,229) |
| Total Stockholders’ Deficit | (5,727) | (7,251) |
| Total Liabilities and Stockholders’ Deficit | $21,405 | $12,095 |
| (1) | Reflects an adjustment of $126,000 to additional paid-in capital and accumulated deficit as compared to previously reported amounts as of December 31, 2024. See further discussion in Note 1. |
The accompanying notes are an integral part of these consolidated financial statements
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