MARPAI REPORTS FIRST QUARTER 2025 FINANCIAL RESULTS
Marpai (OTCQX: MRAI) released its Q1 2025 financial results, showing mixed performance with significant cost reductions but lower revenue. The company reported net revenues of $5.4 million, down 27% year-over-year, while successfully reducing operating expenses by 33% to $7.7 million. The operating loss improved by 45% to $2.3 million, and net loss decreased by 29% to $3.1 million.
CEO Damien Lamendola highlighted upcoming initiatives including the launch of a Healthcare Management tool with Empara, advancements in MarpaiRx, and the onboarding of new COO Dallas Scrip. The company aims to achieve profitability and positive cash flow by the end of 2025. Marpai ended Q1 with $0.7 million in unrestricted cash, slightly down from the previous year.
Marpai (OTCQX: MRAI) ha pubblicato i suoi risultati finanziari del primo trimestre 2025, evidenziando una performance mista con significative riduzioni dei costi ma ricavi inferiori. La società ha riportato ricavi netti di 5,4 milioni di dollari, in calo del 27% rispetto all'anno precedente, riducendo con successo le spese operative del 33% a 7,7 milioni di dollari. La perdita operativa è migliorata del 45%, attestandosi a 2,3 milioni di dollari, mentre la perdita netta è diminuita del 29% a 3,1 milioni di dollari.
Il CEO Damien Lamendola ha sottolineato le iniziative future, tra cui il lancio di uno strumento di gestione sanitaria con Empara, i progressi di MarpaiRx e l'ingresso del nuovo COO Dallas Scrip. L'azienda punta a raggiungere la redditività e un flusso di cassa positivo entro la fine del 2025. Marpai ha chiuso il primo trimestre con 0,7 milioni di dollari in liquidità non vincolata, leggermente inferiore rispetto all'anno precedente.
Marpai (OTCQX: MRAI) publicó sus resultados financieros del primer trimestre de 2025, mostrando un desempeño mixto con reducciones significativas de costos pero ingresos menores. La compañía reportó ingresos netos de 5.4 millones de dólares, una caída del 27% interanual, mientras que logró reducir los gastos operativos en un 33% hasta 7.7 millones de dólares. La pérdida operativa mejoró un 45% hasta 2.3 millones de dólares, y la pérdida neta disminuyó un 29% hasta 3.1 millones de dólares.
El CEO Damien Lamendola destacó las próximas iniciativas, incluyendo el lanzamiento de una herramienta de Gestión de Salud con Empara, avances en MarpaiRx y la incorporación del nuevo COO Dallas Scrip. La compañía apunta a alcanzar rentabilidad y flujo de caja positivo para finales de 2025. Marpai cerró el primer trimestre con 0.7 millones de dólares en efectivo no restringido, ligeramente por debajo del año anterior.
Marpai(OTCQX: MRAI)는 2025년 1분기 재무 실적을 발표하며 비용 절감은 크게 이루었으나 매출은 감소하는 혼재된 성과를 보였습니다. 회사는 순매출 540만 달러를 보고했으며, 전년 대비 27% 감소했습니다. 반면 운영비용은 33% 줄어든 770만 달러를 기록했습니다. 영업손실은 45% 개선된 230만 달러, 순손실은 29% 감소한 310만 달러였습니다.
CEO Damien Lamendola는 Empara와 함께하는 헬스케어 관리 도구 출시, MarpaiRx의 발전, 신규 COO Dallas Scrip 합류 등 향후 계획을 강조했습니다. 회사는 2025년 말까지 수익성 및 긍정적인 현금 흐름 달성을 목표로 하고 있습니다. Marpai는 1분기 말에 70만 달러의 제한 없는 현금을 보유했으며, 전년 대비 소폭 감소했습니다.
Marpai (OTCQX : MRAI) a publié ses résultats financiers du premier trimestre 2025, affichant des performances mitigées avec des réductions de coûts significatives mais des revenus en baisse. La société a annoncé des revenus nets de 5,4 millions de dollars, en baisse de 27 % d'une année sur l'autre, tout en réduisant avec succès ses dépenses d'exploitation de 33 % à 7,7 millions de dollars. La perte d'exploitation s'est améliorée de 45 % pour atteindre 2,3 millions de dollars, et la perte nette a diminué de 29 % pour s'établir à 3,1 millions de dollars.
Le PDG Damien Lamendola a souligné les initiatives à venir, notamment le lancement d'un outil de gestion des soins de santé avec Empara, les progrès de MarpaiRx et l'arrivée du nouveau COO Dallas Scrip. La société vise à atteindre la rentabilité et un flux de trésorerie positif d'ici la fin 2025. Marpai a terminé le premier trimestre avec 0,7 million de dollars de trésorerie disponible, légèrement en baisse par rapport à l'année précédente.
Marpai (OTCQX: MRAI) veröffentlichte seine Finanzergebnisse für das erste Quartal 2025 und zeigte eine gemischte Performance mit erheblichen Kostensenkungen, aber niedrigeren Einnahmen. Das Unternehmen meldete Nettoeinnahmen von 5,4 Millionen US-Dollar, was einem Rückgang von 27 % im Jahresvergleich entspricht, während die Betriebsausgaben erfolgreich um 33 % auf 7,7 Millionen US-Dollar gesenkt wurden. Der Betriebsverlust verbesserte sich um 45 % auf 2,3 Millionen US-Dollar, und der Nettoverlust sank um 29 % auf 3,1 Millionen US-Dollar.
CEO Damien Lamendola hob bevorstehende Initiativen hervor, darunter die Einführung eines Healthcare-Management-Tools mit Empara, Fortschritte bei MarpaiRx und die Einstellung des neuen COO Dallas Scrip. Das Unternehmen strebt an, bis Ende 2025 Profitabilität und positiven Cashflow zu erreichen. Marpai beendete das erste Quartal mit 0,7 Millionen US-Dollar an uneingeschränkten liquiden Mitteln, leicht unter dem Vorjahr.
- Operating loss improved by 45% year-over-year to $2.3 million
- Operating expenses reduced by 33% to $7.7 million
- Net loss decreased by 29% to $3.1 million
- EPS improved by $0.25 per share year-over-year
- Revenue declined 27% year-over-year to $5.4 million
- Cash position decreased to $0.7 million, down $0.1 million from previous year
- Company still operating at a loss with negative $3.1 million net loss
- Basic and diluted EPS remained negative at ($0.21)
Marpai's turnaround momentum is building
Marpai CEO Damien Lamendola commented, "Our consistent double-digit success in cutting operating expenses and improving our bottom line signals what we believe is a critical inflection point for the Company. Looking ahead to the second quarter, we are focused on completing several key initiatives, including the launch of our Healthcare Management tool with Empara, LLC ("Empara"), exciting advancements with MarpaiRx, and the onboarding of our new Chief Operating Officer, Dallas Scrip. Our unwavering goal is to achieve profitability and positive cash flow by the end of 2025."
Q1 2025 Financial Highlights:
- Net revenues were approximately
$5.4 million $2.0 million 27% lower year over year, compared to the three months ended March 31, 2024. - Operating expenses were
$7.7 million $3.8 million 33% lower year over year, compared to the three months ended March 31, 2024. - Operating loss was
$2.3 million $1.8 million 45% lower year over year, compared to the three months ended March 31, 2024. - Net loss was
$3.1 million $1.3 million 29% lower year over year, compared to the three months ended March 31, 2024. - Basic and diluted earnings per share were (
$0.21 $0.25 - The Company had
$0.7 million $0.1 million
Webcast and Conference Call Information
Marpai expects to host a conference call and webcast on Thursday, May 15, 2025, at 8:30 a.m. ET to review the Company's operational and financial highlights for its first quarter ended March 31, 2025.
Investors interested in listening to the conference call may do so by dialing (800)-836-8184 for domestic callers or +1-646-357-8785 for international callers, or via webcast: https://app.webinar.net/e6RGaxOgz3n
About Marpai, Inc.
Marpai, Inc. (OTCQX: MRAI) is a technology platform company which operates subsidiaries that provide TPA and value-oriented health plan services to employers that directly pay for employee health benefits. Primarily competing in the
Forward-Looking Statement Disclaimer
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "guidance," "may," "can," "could", "will", "potential", "should," "goal" and variations of these words or similar expressions. For example, the Company is using forward-looking statements when it discusses that it continues to make strong progress with its turnaround efforts, that improvements in its operating expenses and bottom line signals a critical inflection point for the Company, quarter, that it expects to complete several key initiatives, including the launch of its Healthcare Management tool with Empara and advancements with MarpaiRx, and that its goal remains profitability and positive cash flow by the end of 2025. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Marpai's current expectations and speak only as of the date of this release. Actual results may differ materially from Marpai's current expectations depending upon a number of factors. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business. Except as required by law, Marpai does not undertake any responsibility to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.
More detailed information about Marpai and the risk factors that may affect the realization of forward-looking statements is set forth in Marpai's filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov.
MARPAI, INC. AND SUBSIDIARIES | ||||
CONDENSED CONSOLIDATED BALANCE SHEET | ||||
(in thousands, except share and per share data) | ||||
(Unaudited) | ||||
March 31, 2025 | December 31, 2024 | |||
ASSETS: | ||||
Current assets: | ||||
Cash and cash equivalents | $ 729 | $ 764 | ||
Restricted cash | 10,780 | 8,468 | ||
Accounts receivable, net of allowance for credit losses of 2025 and Dec 31, 2024 | 368 | 837 | ||
Unbilled receivables | 374 | 569 | ||
Due from buyer for sale of business unit | — | 500 | ||
Prepaid expenses and other current assets | 615 | 759 | ||
Total current assets | 12,866 | 11,897 | ||
Capitalized software, net | 334 | 441 | ||
Operating lease right-of-use assets | 281 | 296 | ||
Security deposits | 229 | 229 | ||
Other long-term asset | 8 | 15 | ||
Total assets | $ 13,718 | $ 12,878 | ||
LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||
Current liabilities: | ||||
Accounts payable | $ 2,736 | $ 3,109 | ||
Accrued expenses | 1,906 | 2,585 | ||
Accrued fiduciary obligations | 8,227 | 6,308 | ||
Deferred revenue | 806 | 625 | ||
Current portion of operating lease liabilities | 248 | 244 | ||
Current portion of convertible debentures, net | 3,037 | 3,106 | ||
Other short-term liabilities | 2,834 | 3,005 | ||
Total current liabilities | 19,794 | 18,982 | ||
Other long-term liabilities | 15,329 | 14,891 | ||
Convertible debentures, net of current portion | 8,069 | 5,921 | ||
Operating lease liabilities, net of current portion | 730 | 793 | ||
Total liabilities | 43,922 | 40,587 | ||
COMMITMENTS AND CONTINGENCIES | ||||
STOCKHOLDERS' DEFICIT | ||||
Common stock, shares and 14,237,176 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively | 1 | 1 | ||
Additional paid-in capital | 71,698 | 71,124 | ||
Accumulated deficit | (101,903) | (98,834) | ||
Total stockholders' deficit | (30,204) | (27,709) | ||
Total liabilities and stockholders' deficit | $ 13,718 | $ 12,878 | ||
MARPAI, INC. AND SUBSIDIARIES | ||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||
(in thousands, except share and per share data) | ||||
(Unaudited) | ||||
Three Months Ended | ||||
March 31, 2025 | March 31, 2024 | |||
Revenue | $ 5,418 | $ 7,385 | ||
Costs and expenses | ||||
Cost of revenue (exclusive of depreciation and amortization shown separately below) | 3,484 | 4,871 | ||
General and administrative | 2,283 | 3,421 | ||
Information technology | 1,390 | 1,124 | ||
Sales and marketing | 245 | 602 | ||
Research and development | 7 | 7 | ||
Depreciation and amortization | 107 | 951 | ||
Facilities | 152 | 474 | ||
Total costs and expenses | 7,668 | 11,450 | ||
Operating loss | (2,250) | (4,065) | ||
Other income (expenses) | ||||
Other income | — | 120 | ||
Interest expense, net | (819) | (398) | ||
Foreign exchange loss | — | (3) | ||
Loss before provision for income taxes | (3,069) | (4,346) | ||
Income tax expense | — | — | ||
Net loss | $ (3,069) | $ (4,346) | ||
Net loss per share, basic & fully diluted | $ (0.21) | $ (0.46) | ||
Weighted average common shares outstanding, basic and diluted | 14,770,867 | 9,405,775 | ||
MARPAI, INC. AND SUBSIDIARIES | ||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||
(in thousands) | ||||
(Unaudited) | ||||
Three Months Ended | ||||
March 31, 2025 | March 31, 2024 | |||
Cash flows from operating activities: | ||||
Net loss | $ (3,069) | $ (4,346) | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation and amortization | 107 | 951 | ||
Share-based compensation | 574 | 561 | ||
Amortization of right-of-use asset | 15 | 62 | ||
Non-cash interest expense | 463 | 423 | ||
Amortization of debt premium and debt issuance costs | (9) | — | ||
Changes in operating assets and liabilities: | ||||
Accounts receivable and unbilled receivables | 664 | 800 | ||
Prepaid expense and other assets | 151 | (99) | ||
Accounts payable | (373) | (825) | ||
Accrued expenses | (679) | 215 | ||
Accrued fiduciary obligations | 1,919 | (2,063) | ||
Operating lease liabilities | (59) | (126) | ||
Other liabilities | 181 | 862 | ||
Net cash used in operating activities | (115) | (3,585) | ||
Cash flows from investing activities: | ||||
Proceeds from sale of business unit | 500 | — | ||
Net cash provided by investing activities | 500 | — | ||
Cash flows from financing activities: | ||||
Proceeds from sale of future cash receipts on accounts receivable | — | 1,509 | ||
Proceeds from issuance of convertible debentures | 3,000 | — | ||
Payments of debt issuance costs | (162) | — | ||
Payments to buyer of receivables | — | (57) | ||
Payments on convertible debentures | (750) | — | ||
Payments to seller for acquisition | (196) | (474) | ||
Proceeds from issuance of common stock in a private offering, net | — | 2,727 | ||
Net cash provided by financing activities | 1,892 | 3,705 | ||
Net increase in cash, cash equivalents and restricted cash | 2,277 | 120 | ||
Cash, cash equivalents and restricted cash at beginning of period | 9,232 | 13,492 | ||
Cash, cash equivalents and restricted cash at end of period | $ 11,509 | $ 13,612 | ||
Reconciliation of cash, cash equivalents, and restricted cash reported in | ||||
Cash and cash equivalents | $ 729 | $ 851 | ||
Restricted cash | 10,780 | 12,761 | ||
Total cash, cash equivalents and restricted cash shown in the condensed | $ 11,509 | $ 13,612 | ||
Supplemental disclosure of cash flow information | ||||
Cash paid for interest | $ 403 | $ — | ||
View original content to download multimedia:https://www.prnewswire.com/news-releases/marpai-reports-first-quarter-2025-financial-results-302455515.html
SOURCE Marpai
FAQ
What were Marpai's (MRAI) Q1 2025 revenue and net loss?
How much did Marpai (MRAI) reduce its operating expenses in Q1 2025?
What is Marpai's (MRAI) cash position as of Q1 2025?
When does Marpai (MRAI) expect to achieve profitability?
What was Marpai's (MRAI) earnings per share in Q1 2025?
