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MARPAI INC A - MRAI STOCK NEWS

Welcome to our dedicated page for MARPAI A news (Ticker: MRAI), a resource for investors and traders seeking the latest updates and insights on MARPAI A stock.

Marpai Inc. (Nasdaq: MRAI) is a leading, national Third-Party Administration (TPA) company focused on transforming the $22 billion TPA market. Operating at the intersection of healthcare and deep learning, Marpai's mission is to predict and prevent costly events in healthcare for patients, providers, and payors. The company provides value-oriented health plan services to employers that directly pay for employee health benefits, leveraging advanced artificial intelligence to improve healthcare outcomes and reduce costs.

Marpai operates nationwide, offering access to leading provider networks including Aetna and Cigna. The company’s services include plan administration, claims processing, and wellness initiatives, all designed to deliver the healthiest member population for the health plan budget. Through its Marpai Saves initiative, Marpai aims to enhance the quality of care while maintaining cost-efficiency.

Recent achievements include the successful acquisition and integration of Maestro Health, which has begun to yield synergies and operational improvements. Additionally, Marpai secured an $11.83 million convertible note to repay existing debt and fuel growth initiatives, further solidifying its financial standing.

Despite some challenges with Nasdaq listing requirements, Marpai has strategically decided to transition its stock listing to OTCQX Market. This move is expected to reduce compliance costs and allow the company to focus on growth and shareholder value. The company remains committed to its mission and continues to innovate and expand its service offerings in the TPA sector.

Marpai's financial outlook remains strong, with recent cost reduction initiatives expected to generate $3 million in annual savings, positioning the company for profitability and sustainable growth. The company continually adapts to market demands, enhancing its operational efficiency and client satisfaction.

News

MARPAI INC. BOLSTERS SALES TEAM WITH TWO WORLD-CLASS EXECUTIVES

Rhea-AI Summary
Marpai Inc. strengthens its sales team by Antoine two industry-renowned executives, Richard Brewer as Chief Strategy Officer and Ben Utz as Vice President of Strategic Accounts, to accelerate growth and market expansion. These appointments highlight Marpai's dedication to innovation and quality healthcare solutions.
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MARPAI INC. ANNOUNCES SALE OF $11.83 MILLION CONVERTIBLE NOTES

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Marpai Inc. announces the sale of $11.83 million convertible notes to JGB Management Inc., strengthening its growth trajectory in the TPA market. The loan proceeds will be used for debt repayment, growth initiatives, and working capital, with the notes convertible into Marpai common stock at a premium price of $3.00 per share.
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MARPAI REPORTS FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS

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Marpai, Inc. announces financial results for Q4 2023 and full year 2023, showcasing revenue growth and operational improvements. The company reports net revenues of $8.7 million for Q4, a 14% increase year over year, and $37.2 million for the full year, a 52.6% improvement. Gross profit for Q4 was $3.0 million, up 6.5% from the previous year, and $12.9 million for the full year, a 79.2% increase. Operating expenses decreased by 30.6% in Q4 but increased by 19.7% for the full year. Marpai also reported an operating loss of $5.2 million in Q4, a 42.3% improvement, and $28.0 million for the full year, a 3.8% increase. The net loss for Q4 was $5.0 million, 41.1% lower year over year, and $28.8 million for the full year, an 8.6% increase. Basic and diluted earnings per share were ($0.65) for Q4, an improvement of $1.00 per share, and ($4.14) for the full year, an increase of $1.09 per share.
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NASDAQ PANEL GRANTS MARPAI'S REQUEST FOR EXTENSION TO COMPLY WITH CONTINUED LISTING REQUIREMENTS

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Marpai, Inc. (MRAI) receives an extension from the Nasdaq Hearings Panel to regain compliance with the Market Value of Listed Securities requirement, allowing them until May 28, 2024. The company has been working on raising equity, improving operational efficiencies, and driving growth through customer renewals and wins.
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MARPAI ANNOUNCES PRELIMINARY UNAUDITED FINANCIAL RESULTS FOR FOURTH QUARTER AND FULL YEAR 2023

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Marpai, Inc. announces unaudited preliminary financial results for Q4 and full year 2023, showing improvements in net revenues and operating expenses. The company expects to discuss the results in a webcast on March 27, 2024.
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MARPAI ANNOUNCES "OFF-CYCLE" NEW CLIENT AGREEMENT

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Marpai, Inc. (MRAI) expands its presence in the Southeast by signing a three-year agreement to provide healthcare benefit services to a regional organization, expecting to add 20,000 households by 2024.
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MARPAI ANNOUNCES KEY FINANCIAL AGREEMENTS

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Marpai, Inc. (Nasdaq: MRAI) has announced two key financing agreements. The company executed an amendment with AXA S.A. delaying payment obligations and securing $1.7 million in revenue-based financing from Libertas Funding, LLC. The amendment with AXA extends payment terms, reduces the remaining payment in 2024 to $473,688, and delays further payments to 2025. AXA has also agreed to certain 'Reduction Criteria' that could potentially reduce the overall payment obligation by $3 million. Marpai also received $1.7 million in revenue-based financing from Libertas, which the company plans to use for short-term working capital needs.
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MARPAI HIRES JOHN POWERS AS PRESIDENT

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Marpai, Inc. (Nasdaq: MRAI) appoints John Powers as President, an accomplished healthcare benefits executive with over 30 years' experience. Powers brings deep operations knowledge and an extensive industry network, focusing on client savings and high growth. The company aims for rapid efficiencies in operations and achieving a high growth, cash flow positive Company with a strong track record of innovation.
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MARPAI, INC. ANNOUNCES APPOINTMENT OF TWO NEW INDEPENDENT DIRECTORS

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Marpai, Inc. (Nasdaq: MRAI) announced the addition of two new independent directors to its Board of Directors, Jennifer Calabrese and Robert Pons, as part of the Company's transformation plan and commitment to strong corporate governance and shareholder value creation. The Board will implement a strategic plan to enhance the Company's performance and drive shareholder value creation, positioning Marpai for near- and long-term success.
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MARPAI, INC. REGAINS COMPLIANCE WITH NASDAQ MINIMUM BID PRICE COMPLIANCE

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Marpai, Inc. (Nasdaq: MRAI) has announced that it has regained compliance with Nasdaq's minimum bid price requirement, closing the matter.
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FAQ

What is the current stock price of MARPAI A (MRAI)?

The current stock price of MARPAI A (MRAI) is $1.6 as of November 15, 2024.

What is the market cap of MARPAI A (MRAI)?

The market cap of MARPAI A (MRAI) is approximately 6.7M.

What does Marpai Inc. do?

Marpai Inc. is a national Third-Party Administration (TPA) company that provides health plan services to self-funded employers, utilizing advanced AI to improve healthcare outcomes and reduce costs.

What is Marpai’s mission?

Marpai’s mission is to predict and prevent costly healthcare events for patients, providers, and payors, improving overall healthcare quality and cost-efficiency.

What recent achievements has Marpai reported?

Marpai has successfully integrated Maestro Health, secured $11.83 million in convertible notes, and implemented cost reduction initiatives expected to save $3 million annually.

How does Marpai use artificial intelligence?

Marpai uses advanced deep learning to predict and prevent costly healthcare events, enhancing the quality of care and reducing costs for members.

What provider networks does Marpai work with?

Marpai offers access to leading provider networks including Aetna and Cigna, among others.

Why is Marpai transitioning to the OTCQX Market?

Marpai is moving to OTCQX to reduce compliance costs and better focus on growth and shareholder value, following challenges with Nasdaq listing requirements.

What financial outlook has Marpai provided recently?

Marpai expects to generate $3 million in annual savings from recent cost reduction initiatives and continues to focus on operational efficiency and profitability.

What are the key services provided by Marpai?

Marpai provides health plan administration, claims processing, and wellness initiatives aimed at improving member health and reducing costs.

How does Marpai ensure high-quality healthcare?

Through its Marpai Saves initiative, the company leverages AI and analytics to deliver high-quality, cost-effective healthcare solutions tailored to self-funded employers.

What is Marpai’s approach to growth and innovation?

Marpai continuously adapts to market demands, enhances operational efficiency, and invests in innovative AI solutions to improve healthcare outcomes and drive growth.

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MARPAI INC A

Nasdaq:MRAI

MRAI Rankings

N/A Ranked by Market Cap
N/A Ranked by Dividends

MRAI Stock Data

6.70M
10.31M
70.65%
10.9%
0.16%
Healthcare Plans
Services-misc Health & Allied Services, Nec
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United States of America
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