Spectral AI Announces 2026 Third Quarter Financial Results
Key Highlights
- ➤2026 R&D revenue guidance cut to approximately $13.0 million from $18.5 million
- ➤Q3 research and development revenue fell 24.7% to $2.9 million
- ➤Gross margin declined to 27.2% from 42.7% year over year
- ➤Cash and cash equivalents fell to $11.2 million from $15.4 million
- ➤First 30 DeepView AI Systems entering manufacturing; initial deliveries targeted by year-end
Expert Statements
Vincent Capone, Chief Executive Officer of Spectral AI
“Our third-quarter results reflect our continued transition from a research and development organization into a commercial enterprise”
Vincent Capone, Chief Executive Officer of Spectral AI
“We have begun manufacturing the first 30 DeepView AI Systems for BARDA-supported deployment at U.S. burn centers and remain on track for initial deliveries by year-end.”
Vincent Capone, Chief Executive Officer of Spectral AI
“While executing on our near-term priorities, we are taking a long-term view of the DeepView AI System, looking beyond early deployments to build the capabilities that will support broader adoption and establish a repeatable clinical model.”
Vincent Capone, Chief Executive Officer of Spectral AI
“These include clinician education, pursuing expanded reimbursement for physicians and hospital systems, and exploring label expansion opportunities.”
Vincent Capone, Chief Executive Officer of Spectral AI
“We are encouraged by the response from the clinical community thus far, including at the Southern Regional Burn Conference, where leading burn surgeons presented new study results using DeepView AI, and at the American College of Emergency Physicians’ annual conference in October.”
David McGuire, Chief Financial Officer of Spectral AI
“During the third quarter, we reduced operating expenses by 4% from a year ago while continuing to fund the development of our technology and support our commercial launch activities.”
David McGuire, Chief Financial Officer of Spectral AI
“We ended the quarter with $11.2 million of cash, and we are assessing opportunities to strengthen our balance sheet as we move from development to commercialization.”
Remains on Track for First U.S. Commercial Placement of the DeepView AI System in the Fourth Quarter of 2026
DALLAS, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today reported financial results for the third quarter ended September 30, 2026 (“Q3 2026”). The Company expects to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026 on or before November 16, 2026.
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