Spectral AI Provides Update to Investors
Spectral AI (NASDAQ: MDAI), developer of the DeepView® System for burn healing prediction, has announced positive preliminary financial results for 2024. The company expects to report annual revenue surpassing its $28 million market guidance, marking the highest revenue in its history. The growth is attributed to increased focus on completing its BARDA contract, which has also led to improved gross profit margins. The company anticipates reporting over $5.0 million in cash. The DeepView® System, which received FDA Breakthrough Device Designation in 2018, utilizes multi-spectral imaging and algorithms to predict burn healing potential.
Spectral AI (NASDAQ: MDAI), sviluppatore del sistema DeepView® per la previsione della guarigione delle ustioni, ha annunciato risultati finanziari preliminari positivi per il 2024. L'azienda si aspetta di riferire un fatturato annuo superiore alla sua guida di mercato di $28 milioni, segnando il fatturato più alto nella sua storia. La crescita è attribuita a un maggiore impegno nel completamento del contratto con BARDA, che ha anche portato a margini di profitto lordo migliorati. L'azienda prevede di riportare oltre $5,0 milioni in contante. Il sistema DeepView®, che ha ricevuto la designazione di dispositivo innovativo dalla FDA nel 2018, utilizza imaging multispettrale e algoritmi per prevedere il potenziale di guarigione delle ustioni.
Spectral AI (NASDAQ: MDAI), desarrollador del sistema DeepView® para la predicción de la curación de quemaduras, ha anunciado resultados financieros preliminares positivos para 2024. La empresa espera informar ingresos anuales que superen su guía de mercado de $28 millones, marcando los ingresos más altos en su historia. El crecimiento se atribuye a un mayor enfoque en completar su contrato con BARDA, lo que también ha llevado a márgenes de beneficio bruto mejorados. La empresa anticipa reportar más de $5.0 millones en efectivo. El sistema DeepView®, que recibió la designación de dispositivo innovador por la FDA en 2018, utiliza imágenes multiespectrales y algoritmos para predecir el potencial de curación de quemaduras.
스펙트럴 AI (NASDAQ: MDAI), 화상 치유 예측을 위한 DeepView® 시스템의 개발자는 2024년 긍정적인 초기 재무 결과를 발표했습니다. 이 회사는 $28백만 시장 지침을 초과하는 연간 수익을 보고할 것으로 기대하고 있으며, 이는 역사상 가장 높은 수익입니다. 성장은 BARDA 계약 완료에 대한 집중 증가에서 비롯되었으며, 이는 개선된 총 이익률로 이어졌습니다. 이 회사는 500만 달러 이상의 현금을 보고할 것으로 예상하고 있습니다. DeepView® 시스템은 2018년에 FDA 혁신 장치 지정으로 인정받았으며, 다중 스펙트럼 이미징과 알고리즘을 사용하여 화상의 치유 잠재력을 예측합니다.
Spectral AI (NASDAQ: MDAI), développeur du système DeepView® pour la prévision de la guérison des brûlures, a annoncé des résultats financiers préliminaires positifs pour 2024. L'entreprise s'attend à annoncer des revenus annuels dépassant sa prévision de marché de 28 millions de dollars, marquant le revenu le plus élevé de son histoire. Cette croissance est attribuée à un accent accru sur l'achèvement de son contrat avec le BARDA, ce qui a également permis d'améliorer les marges de bénéfice brut. L'entreprise prévoit de rapporter plus de 5,0 millions de dollars en liquidités. Le système DeepView®, qui a obtenu la désignation de Dispositif Innovant de la FDA en 2018, utilise l'imagerie multispectrale et des algorithmes pour prédire le potentiel de guérison des brûlures.
Spectral AI (NASDAQ: MDAI), Entwickler des DeepView®-Systems zur Vorhersage der Heilung von Verbrennungen, hat positive vorläufige Finanzergebnisse für 2024 bekannt gegeben. Das Unternehmen erwartet, jährliche Einnahmen zu berichten, die seine Marktf Guidance von 28 Millionen US-Dollar übersteigen und damit die höchsten Einnahmen in seiner Geschichte markieren. Das Wachstum wird einem erhöhten Fokus auf den Abschluss des BARDA-Vertrags zugeschrieben, was auch zu verbesserten Bruttogewinnmargen geführt hat. Das Unternehmen rechnet mit über 5,0 Millionen US-Dollar in bar. Das DeepView®-System, das 2018 von der FDA die Breakthrough Device Designation erhielt, nutzt multi-spektraale Bildgebung und Algorithmen, um das Heilungspotenzial von Verbrennungen vorherzusagen.
- Expected annual revenue to exceed $28M guidance (highest in company history)
- Improved gross profit margin in 2024
- Cash position over $5.0M
- Progress in BARDA contract completion
- None.
Insights
The preliminary financial results from Spectral AI reveal several key positive indicators for investors. The company's ability to exceed its
The
The BARDA (Biomedical Advanced Research and Development Authority) contract completion progress is particularly noteworthy, as government contracts typically provide stable, long-term revenue streams and validate the technology's potential for widespread adoption in emergency preparedness and healthcare settings. The FDA Breakthrough Device Designation for their AI-driven burn assessment system positions them favorably in the medical imaging market, potentially accelerating the regulatory approval process and subsequent commercialization.
Looking ahead, key metrics to watch include:
- Conversion rate of the breakthrough designation into full FDA approval
- Expansion of BARDA contract scope or new government partnerships
- Gross margin sustainability and operating leverage improvements
- Cash runway relative to R&D and commercialization needs
DALLAS, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Spectral AI (NASDAQ: MDAI) (“Spectral AI” or the “Company”), developer of the AI-driven DeepView® System, which received Breakthrough Device Designation from the U.S. FDA in 2018, that uses multi-spectral imaging and algorithms to predict burn healing potential, today announced an update on its operating results.
Pending the completion of its audited financial statements, the Company anticipates reporting annual revenue exceeding its
About Spectral AI
Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns and diabetic foot ulcers. The Company is working to revolutionize the management of wound care by “Seeing the Unknown®” with its DeepView® System. DeepView is a predictive device that offers clinicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal of exceeding the current standard of care in the future, DeepView is expected to provide faster and more accurate treatment insight towards value care by improving patient outcomes and reducing healthcare costs. For more information about DeepView, visit www.spectral-ai.com.
Forward-Looking Statements
The estimated, projected or anticipated financial results, financial condition or other financial information discussed in this press release are based on management’s preliminary unaudited analysis of financial results for the year ended December 31, 2024. As of the date of this press release, the Company has not completed its financial statement reporting process for the year ended December 31, 2024, and the Company’s independent registered accounting firm has not audited the preliminary financial data discussed in this press release. During the course of the Company’s year-end closing procedures and review process, including the finalization of its financial statements for and as of the year ended December 31, 2024, the Company may identify items that would require it to make adjustments, which may be material to the information presented above. As a result, the estimates above constitute forward-looking information and are subject to risks and uncertainties, including possible adjustments to preliminary results. The Company expects to report complete full year 2024 financial results during March 2025.
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s intention to separate its Spectral IP subsidiary from the Company, and each Company’s strategy, plans, objectives, initiatives, strategic goals, financial outlook or other non-historical matters. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. As such, readers are cautioned not to place undue reliance on any forward-looking statements. Investors should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s filings with the SEC, including the Registration Statement and the other documents filed by the Company. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Spectral AI undertakes no obligation to update any forward-looking statements except as otherwise required by law.
For Media and Investor Relations, please contact:
David Kugelman
Atlanta Capital Partners LLC
(866) 692-6847 Toll Free - U.S. & Canada
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Email: dk@atlcp.com
FAQ
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