NASDAQ · MDAI

Spectral AI, Inc.

Closing price · Nov 13, 2026 $1.30

Latest quarter · ended Jun 30, 2026

Sales slipped and cash got weaker

descriptionFiled Aug 11, 2026
Revenue growthShrinking
−30.4%
Quarter ended Sep 30, 2024: +137.6% sales vs. a year beforeQuarter ended Dec 31, 2024: +43.8% sales vs. a year beforeQuarter ended Mar 31, 2025: +6.0% sales vs. a year beforeQuarter ended Jun 30, 2025: −32.3% sales vs. a year beforeQuarter ended Sep 30, 2025: −53.6% sales vs. a year beforeQuarter ended Dec 31, 2025: −46.3% sales vs. a year beforeQuarter ended Mar 31, 2026: −40.5% sales vs. a year beforeQuarter ended Jun 30, 2026: −30.4% sales vs. a year before
Sep '24Jun '26
$3.52M vs. $5.07M a year ago
Gross marginWorse
31.6%
Quarter ended Sep 30, 2024: 44.9% gross marginQuarter ended Dec 31, 2024: 44.0% gross marginQuarter ended Mar 31, 2025: 47.2% gross marginQuarter ended Jun 30, 2025: 45.2% gross marginQuarter ended Sep 30, 2025: 42.7% gross marginQuarter ended Dec 31, 2025: 45.2% gross marginQuarter ended Mar 31, 2026: 50.8% gross marginQuarter ended Jun 30, 2026: 31.6% gross margin
Sep '24Jun '26
vs. 45.2% a year ago
Cash from operationsWorse
−$4.1M
Quarter ended Sep 30, 2024: −$1.63M cash from operationsQuarter ended Dec 31, 2024: $469K cash from operationsQuarter ended Mar 31, 2025: −$1.5M cash from operationsQuarter ended Jun 30, 2025: −$3.36M cash from operationsQuarter ended Sep 30, 2025: −$2.5M cash from operationsQuarter ended Dec 31, 2025: −$2.55M cash from operationsQuarter ended Mar 31, 2026: −$3.73M cash from operationsQuarter ended Jun 30, 2026: −$4.1M cash from operations
Sep '24Jun '26
vs. −$3.36M a year ago
Share countDiluting
+20.4%
Quarter ended Sep 30, 2024: 18.59M sharesQuarter ended Dec 31, 2024: 25.32M sharesQuarter ended Mar 31, 2025: 25.75M sharesQuarter ended Jun 30, 2025: 26.73M sharesQuarter ended Sep 30, 2025: 30.69M sharesQuarter ended Dec 31, 2025: 31.82M sharesQuarter ended Mar 31, 2026: 31.82M sharesQuarter ended Jun 30, 2026: 32.18M shares
Sep '24Jun '26
32.18M shares vs. 26.73M a year ago

Numbers come from the company's own 10-Q and 10-K reports filed with the SEC. Each bar is one quarter, oldest on the left. The colored bar is the latest. Hover over or tap a bar to see its number.

Smart money pulse

What insiders and funds are doing

Mixed Insiders: as of Nov 13 Funds: as of Jun 30, 2026
−1000+100 0
  • info
    No real insider sales in 12 months. Planned 10b5-1 sales and tax withholding are left out.

−100 means everyone selling, +100 everyone buying. This is data, not advice.

How the Pulse works

Pulse runs from −100 (everyone selling) to +100 (everyone buying). Half comes from insiders: real buyers vs. real sellers in the last 90 days (Form 4). Half comes from funds: funds that bought vs. funds that sold last quarter (13F). 13F is a snapshot of long positions on the last day of the quarter, filed up to 45 days later. It does not show short positions or trades since then.

Who owns it

35 funds report owning MDAI, up from 23

Holdings as of Jun 30, 2026
New14
Added10
Held9
Trimmed2
Sold out2

Insider trades · last 12 months

Real buys and sales

No open-market buys or sales by officers or directors in the last 12 months. Hidden: 23 stock grants. Press All filings to see them.

● Open-market buy● Open-market sale
CEOCFOOther officersDirectorsDecJanFebMarAprMayJunJulAugSepOctNovStock grant · Mar 27 · $25.5KStock grant · Mar 27 · $12KStock grant · Apr 24 · 100,000 shStock grant · Apr 24 · 179,850 sh · 4 peopleStock grant · May 15 · $71.7K · 2 peopleStock grant · May 18 · $21.2KStock grant · May 26 · $84.1KStock grant · May 28 · $5.9KStock grant · May 29 · $31.8KStock grant · Jun 24 · $24.9KStock grant · Jun 25 · $24.8KStock grant · Jun 29 · $25.9KStock grant · Aug 13 · $57.4KStock grant · Sep 10 · $15.6KStock grant · Sep 11 · $35KStock grant · Sep 18 · $17.7KStock grant · Sep 21 · $35.5KStock grant · Sep 23 · $100KStock grant · Sep 28 · $51.8K
CEOCFOOther officersDirectorsJunJulAugSepOctNovStock grant · Jun 24 · $24.9KStock grant · Jun 25 · $24.8KStock grant · Jun 29 · $25.9KStock grant · Aug 13 · $57.4KStock grant · Sep 10 · $15.6KStock grant · Sep 11 · $35KStock grant · Sep 18 · $17.7KStock grant · Sep 21 · $35.5KStock grant · Sep 23 · $100KStock grant · Sep 28 · $51.8K

Last 6 months. A wider screen shows 12.

Showing 0 real trades. Hidden: 23 stock grants. Those happen on a schedule and say little about what an insider thinks. Bigger dot means a bigger trade.

Showing every filing. Dashed circles are routine: grants, tax withholding, option exercises and planned sales.

Top holders

Biggest funds in MDAI

As of Jun 30, 2026
FundOwnsValueChange
Vanguard Capital Management LLC3.1%$1.72M+37%
Highlander Partners, L.P.2.8%$1.56MSame
Marshall Wace, LLP2.6%$1.43MNew
Bridgeway Capital Management, LLC0.9%$497K+44%
Jane Street Group, LLC0.7%$392K+2%

"Owns" is shares reported divided by shares outstanding.

Where this data comes from. Insider trades, fund holdings, activist stakes and company results come from public SEC EDGAR filings (Forms 4, 13F, 13D/13G, 10-Q and 8-K). Congress trades come from the STOCK Act reports members file with the House Clerk and the Senate. Daily closing prices come from post-no-preference/stocks on DoltHub, a community-run database shared under CC BY-SA 4.0; the prices we show stay under that license. They are each day's close, not live or official exchange prices.

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