10-Q · May 12, 2026
MDAI reported Q1 2026 results reflecting a significant drop in research and development revenue and net income compared to the prior year. While revenue saw a notable beat against consensus estimates, the overall…
Earnings analysis · 10-Q
MDAI earnings analysis
Filed August 11, 2026 · Our reading of the company's report
The latest report
The provided 10-Q excerpt does not include the income statement, balance sheet, cash-flow statement, segment results or detailed MD&A, so current-period financial metrics cannot be determined from the available text.…
Read full summary
The provided 10-Q excerpt does not include the income statement, balance sheet, cash-flow statement, segment results or detailed MD&A, so current-period financial metrics cannot be determined from the available text. The principal development is that disclosure controls remained ineffective as of June 30, 2026 because of a material weakness, although management has expanded finance staffing, upgraded ERP controls and initiated remediation testing. The filing states there were no material changes to the risk factors disclosed in the March 25, 2026 Form 10-K.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Expanded Finance Remediation Team
Management appointed a new Chief Financial Officer and supplemented accounting personnel as part of the remediation plan for the material weakness.
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ERP and Control Enhancements
The company enhanced its enterprise resource planning system during 2025 to support key financial processes and enforce segregation of duties through automation and approval workflows.
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Remediation Testing Underway
Management expects testing from the first and second quarters of 2026, plus testing in the second half of 2026, to support a conclusion that controls are appropriately designed and operating effectively.
What to watch
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Material Weakness Persists
As of June 30, 2026, disclosure controls and procedures were not effective because of a material weakness in internal control over financial reporting, including inconsistent financial-statement close, account-reconciliation, transaction-processing and reporting-review controls.
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Uncertain Remediation Outcome
The company stated that the material weaknesses will continue to exist until remediation steps have been completed, operated for a sufficient period, and evaluated for effectiveness; it also cautioned that remediation may not be successful or prevent future weaknesses.
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Control Remediation Timing Risk
Management's expected remediation conclusion depends on testing in the first and second quarters of 2026 and the second half of 2026, leaving execution and timing risk before effectiveness can be demonstrated.
Management's outlook
The provided 10-Q text contains no quantitative revenue or EPS guidance. Management expects testing conducted during the first and second quarters of 2026, together with testing in the second half of 2026, to support a conclusion that controls are effective and the material weakness has been remediated.
Earlier filings 4
10-K · March 25, 2026
Spectral AI (MDAI) is positioning DeepView as a Day‑One AI diagnostic for burn wound healing with a large government‑funded development runway. The company reports completed enrollment for its De Novo validation (164…
10-Q · November 13, 2025
Spectral AI reported Q3 research & development revenue of $3,792,000 (Q3 2025), down from $8,173,000 in Q3 2024, with a net loss of $3,552,000 (loss per share $0.13). Cash improved to $10,495,000 as of September 30,…
10-Q · May 15, 2025
Spectral AI reported research and development revenue of $6.707M for the quarter ended March 31, 2025 and achieved net income of $2.897M (basic EPS $0.13, diluted $0.11), driven largely by a $4.253M non-cash gain from a…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.