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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.
Marpai, Inc. (Nasdaq: MRAI) has successfully closed a public offering of 7,400,000 shares at a price of
Marpai, Inc. (Nasdaq: MRAI) has announced an underwritten public offering of 7,400,000 shares of its common stock priced at
The proceeds will be used primarily for debt repayment related to the acquisition of Maestro Health (at least 35% of the funds) and the remainder for general corporate purposes. The offering is filed under a shelf registration statement with the SEC. ThinkEquity is the sole book-running manager for the offering.
Marpai, Inc. (Nasdaq: MRAI) announced its intention to conduct an underwritten public offering of its common stock, with all shares being sold by the Company. ThinkEquity is acting as the sole book-running manager for this offering. The exact size and terms remain uncertain as the offering is contingent upon market conditions.
The net proceeds from the offering will be used primarily for repaying debt incurred from the acquisition of Maestro Health, with at least 35% allocated for this purpose, while the remainder will cover general corporate uses.
The offering will be registered under an existing SEC Form S-3 shelf registration statement. No sales will occur in jurisdictions where the offering would be unlawful without proper registration or qualification.
Marpai, Inc. (Nasdaq: MRAI) reported a significant 54% increase in revenue for the fourth quarter of 2022, totaling approximately $7.6 million compared to $4.9 million in Q3 2022. This growth is primarily attributed to the acquisition of Maestro Health. For the full year 2022, net revenues reached $24.3 million, up 71% from 2021. However, the company also faced increased operating losses of approximately $8.9 million in Q4 2022 and a full-year net loss of $26.5 million. Financial guidance for 2023 anticipates revenues between $34 million and $35 million.
Marpai, Inc. (Nasdaq: MRAI) is set to host a conference call on March 30, 2023, at 8:30 a.m. ET to discuss its operational and financial highlights for the fourth quarter and full year of 2022. The results will be released after trading on March 29, 2023. The company specializes in AI-powered health plan services aimed at self-funded employer health plans, competing in a $22 billion Third Party Administrator sector. Investors can join via phone or through a webcast available on their official site.
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