Spectral AI, Inc.
Spectral AI, Inc. (Nasdaq: MDAI) operates as an artificial intelligence company focused on predictive medical diagnostics. The company's website is www.spectral-ai.com. From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What Spectral AI, Inc. does
In the company’s own words
Spectral AI, Inc. (Nasdaq: MDAI) operates as an artificial intelligence company focused on predictive medical diagnostics. The company's website is www.spectral-ai.com.
The company's core product is the DeepView System, an AI-powered diagnostic platform that uses proprietary multispectral imaging technology combined with machine learning algorithms to assess wound healing potential. The DeepView System captures images across a broad spectrum of wavelengths from near-ultraviolet through near-infrared, enabling visualization of tissue characteristics invisible to the naked eye. The system processes these images through trained AI algorithms to deliver binary predictions on whether wounds will heal or not heal within a specified timeframe, typically 21 days. The technology is designed to assist healthcare professionals in making immediate, objective treatment decisions rather than relying on subjective clinical assessment and prolonged observation periods.
Spectral AI currently focuses on burn wound indications and has received UKCA marking for the United Kingdom market as of March 2024. The company submitted a De Novo application to the FDA in June 2025 for U.S. market authorization. The company operates a two-revenue-stream business model combining a software-as-a-service component featuring software licensing fees with maintenance and algorithmic updates, alongside capital sales of the imaging device hardware.
The company's proprietary database comprises over 340 billion pixels of clinically validated burn image data, representing a significant competitive barrier. Spectral AI has developed additional products in development including the DeepView SnapShot M, a handheld portable diagnostic device, and three-dimensional wound measurement technology.
As of December 31, 2025, the company employed 65 full-time employees across the United States and United Kingdom. The company has received approximately $282.5 million in government funding since 2013, primarily from the Biomedical Advanced Research and Development Authority, with a current contract providing up to $150 million in additional funding. The company maintains intellectual property protection through 13 issued and allowed U.S. patents with 5 pending applications, plus 21 issued international patents with 23 pending applications, and holds 47 registered trademarks.
Company details
- Sector
- Healthcare
- Industry
- Surgical & Medical Instruments
- Headquarters
- DALLAS, TX
- Fiscal year end
- December
- CIK
- 1833498
- SIC
- 3841
Financial performance, year by year
Fiscal 2021–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns Spectral AI, Inc. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · Spectral AI, Inc.’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Could not be determined for this company: bond issues.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
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