MARPAI REPORTS SECOND QUARTER 2025 FINANCIAL RESULTS
Marpai (OTCQX: MRAI), a healthcare technology and TPA services provider, reported significant improvements in its Q2 2025 financial results, marking substantial progress in its turnaround strategy. The company achieved a 70% reduction in operating expenses, saving $9.9 million, and reduced its operating loss by 71% to $3.6 million.
Net loss decreased by 66% to $4.4 million, with net loss per share improving by $0.95. However, net revenues declined by $2.5 million to $4.7 million compared to the same quarter last year. CEO Damien Lamendola expressed confidence in achieving profitability by Q1 2026, citing a strong pipeline of new business and planned infrastructure investments in Q3 2025.
Marpai (OTCQX: MRAI), fornitore di tecnologie sanitarie e servizi TPA, ha annunciato notevoli miglioramenti nei risultati del secondo trimestre 2025, segnalando significativi progressi nella sua strategia di turnaround. L'azienda ha ottenuto una riduzione del 70% delle spese operative, risparmiando $9,9 milioni, e ha ridotto la perdita operativa del 71% portandola a $3,6 milioni.
La perdita netta è diminuita del 66% a $4,4 milioni, con una riduzione della perdita per azione di $0,95. I ricavi netti, tuttavia, sono scesi di $2,5 milioni, attestandosi a $4,7 milioni rispetto allo stesso trimestre dell'anno precedente. Il CEO Damien Lamendola si è detto fiducioso di raggiungere la redditività nel primo trimestre 2026, citando un solido portafoglio di nuovi contratti e investimenti infrastrutturali pianificati per il terzo trimestre 2025.
Marpai (OTCQX: MRAI), proveedor de tecnología sanitaria y servicios TPA, informó mejoras significativas en sus resultados del segundo trimestre de 2025, marcando un avance importante en su estrategia de recuperación. La compañía logró una reducción del 70% en gastos operativos, ahorrando $9.9 millones, y redujo su pérdida operativa en un 71% hasta $3.6 millones.
La pérdida neta disminuyó un 66% hasta $4.4 millones, con una mejora de $0.95 en la pérdida por acción. No obstante, los ingresos netos cayeron $2.5 millones, hasta $4.7 millones respecto al mismo trimestre del año anterior. El CEO Damien Lamendola expresó confianza en alcanzar la rentabilidad en el primer trimestre de 2026, citando una sólida cartera de nuevos negocios y las inversiones en infraestructura previstas para el tercer trimestre de 2025.
Marpai (OTCQX: MRAI)는 의료 기술 및 TPA 서비스 제공업체로서 2025년 2분기 실적에서 턴어라운드 전략에 큰 진전을 보였다고 보고했습니다. 회사는 영업비용을 70% 절감해 $9.9 million을 절약했으며, 영업손실을 71% 줄여 $3.6 million으로 감소시켰습니다.
순손실은 66% 감소해 $4.4 million을 기록했으며, 주당 순손실은 $0.95 개선되었습니다. 다만 순수익은 전년 동기 대비 $2.5 million 감소해 $4.7 million에 머물렀습니다. CEO 데미안 라멘돌라는 강력한 신규 수주 파이프라인과 2025년 3분기에 예정된 인프라 투자 계획을 바탕으로 2026년 1분기까지 수익성 달성에 자신감을 보였습니다.
Marpai (OTCQX: MRAI), fournisseur de technologies de santé et de services TPA, a annoncé des améliorations significatives de ses résultats du deuxième trimestre 2025, témoignant de progrès substantiels dans sa stratégie de redressement. La société a obtenu une réduction de 70% des dépenses d'exploitation, économisant $9,9 millions, et a réduit sa perte d'exploitation de 71% pour la ramener à $3,6 millions.
La perte nette a diminué de 66% à $4,4 millions, la perte par action s'étant améliorée de $0,95. En revanche, les revenus nets ont diminué de $2,5 millions, s'établissant à $4,7 millions par rapport au même trimestre de l'an dernier. Le PDG Damien Lamendola s'est dit confiant d'atteindre la rentabilité au premier trimestre 2026, évoquant un solide pipeline de nouveaux contrats et des investissements d'infrastructure prévus au troisième trimestre 2025.
Marpai (OTCQX: MRAI), ein Anbieter von Gesundheitstechnologie und TPA-Dienstleistungen, meldete deutliche Verbesserungen in den Finanzergebnissen des zweiten Quartals 2025 und damit erhebliche Fortschritte in seiner Turnaround-Strategie. Das Unternehmen erreichte eine Reduzierung der Betriebskosten um 70% und sparte $9,9 Mio., zudem wurde der Betriebsverlust um 71% auf $3,6 Mio. verringert.
Der Nettoverlust sank um 66% auf $4,4 Mio., wobei sich der Verlust je Aktie um $0,95 verbesserte. Die Nettoumsätze gingen jedoch im Vergleich zum Vorjahresquartal um $2,5 Mio. auf $4,7 Mio. zurück. CEO Damien Lamendola äußerte Zuversicht, bis zum ersten Quartal 2026 profitabel zu werden, gestützt auf eine starke Pipeline neuer Geschäfte und geplante Infrastrukturinvestitionen im dritten Quartal 2025.
- Operating expenses reduced by 70%, resulting in $9.9 million in savings
- Operating loss decreased by 71% to $3.6 million
- Net loss reduced by 66% to $4.4 million
- Net loss per share improved by $0.95
- Strong pipeline of new business expected for January 2026
- CEO continues personal capital investment, showing confidence
- Net revenues declined by $2.5 million year-over-year to $4.7 million
- Company still operating at a loss
- Major infrastructure investment needed in Q3 2025
Marpai Slashes Losses by Two-Thirds in Q2 2025, Paving the Way to Profitability.
Operating Expenses Cut
The Company delivered substantial quarterly year-over-year improvements across key financial metrics:
- Operating expenses down
70% , saving$9.9 million - Operating loss reduced by
71% to$3.6 million $8.7 million - Net loss reduced by
66% to$4.4 million $8.7 million - Net loss per share improved by
$0.95 - Net revenues down
$2.5 million
"We believe that our turnaround is real and accelerating," said Damien Lamendola, Chief Executive Officer of Marpai. "In just one year, we have significantly strengthened our financial position by cutting costs, streamlining operations, and staying laser-focused on profitability. We estimate that we are on track to deliver a profitable company in the first quarter of 2026. Our pipeline of new business for January 1st 2026 is strong, and we expect to make a major infrastructure investment in Q3 to further improve efficiency and client service. I believe deeply in Marpai's future. That's why I continue to invest my own personal capital in the company.
While net revenues for the quarter were
Webcast and Conference Call Information
Marpai expects to host a conference call and webcast on Thursday, August 14, 2025, at 8:30 a.m. ET to review the Company's operational and financial highlights for its second quarter ended June 30, 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/pD32GbLd5Mx
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, that it expects to make a major infrastructure investment in the third quarter, its belief that it is on track to achieve profitability in the first quarter of 2026 and that its focus on cost control and operational discipline has resulted in a much leaner, stronger platform for growth. 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 SHEETS (in thousands, except share and per share data) | ||||||||
June 30, | December 31, | |||||||
(Unaudited) | ||||||||
ASSETS: | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 619 | $ | 764 | ||||
Restricted cash | 7,661 | 8,468 | ||||||
Accounts receivable, net of allowance for credit losses of and December 31, 2024, respectively | 548 | 837 | ||||||
Unbilled receivables | 914 | 569 | ||||||
Due from buyer for sale of business unit | — | 500 | ||||||
Prepaid expenses and other current assets | 590 | 759 | ||||||
Total current assets | 10,332 | 11,897 | ||||||
Capitalized software, net | 227 | 441 | ||||||
Operating lease right-of-use assets | 265 | 296 | ||||||
Security deposits | 229 | 229 | ||||||
Other long-term asset | 8 | 15 | ||||||
Total assets | $ | 11,061 | $ | 12,878 | ||||
LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 3,588 | $ | 3,109 | ||||
Accrued expenses | 2,069 | 2,585 | ||||||
Accrued fiduciary obligations | 7,179 | 6,308 | ||||||
Deferred revenue | 743 | 625 | ||||||
Current portion of operating lease liabilities | 250 | 244 | ||||||
Current portion of convertible debentures, net | 3,037 | 3,106 | ||||||
Other short-term liabilities | 2,868 | 3,005 | ||||||
Total current liabilities | 19,734 | 18,982 | ||||||
Other long-term liabilities | 15,719 | 14,891 | ||||||
Convertible debentures, net of current portion | 7,311 | 5,921 | ||||||
Operating lease liabilities, net of current portion | 664 | 793 | ||||||
Total liabilities | 43,428 | 40,587 | ||||||
COMMITMENTS AND CONTINGENCIES (Note 16) | ||||||||
STOCKHOLDERS' DEFICIT | ||||||||
Common stock, | 2 | 1 | ||||||
Additional paid-in capital | 73,905 | 71,124 | ||||||
Accumulated deficit | (106,274) | (98,834) | ||||||
Total stockholders' deficit | (32,367) | (27,709) | ||||||
Total liabilities and stockholders' deficit | $ | 11,061 | $ | 12,878 | ||||
MARPAI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (in thousands, except share and per share data) | ||||||||||||||||
Three months ended | Six months ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Revenue | $ | 4,656 | $ | 7,189 | $ | 10,074 | $ | 14,574 | ||||||||
Costs and expenses | ||||||||||||||||
Cost of revenue (exclusive of depreciation and amortization shown separately below) | 3,910 | 5,174 | 7,395 | 10,045 | ||||||||||||
General and administrative | 2,483 | 3,721 | 4,766 | 7,142 | ||||||||||||
Information technology | 1,291 | 1,210 | 2,681 | 2,334 | ||||||||||||
Sales and marketing | 312 | 436 | 556 | 1,038 | ||||||||||||
Research and development | — | 8 | 7 | 15 | ||||||||||||
Depreciation and amortization | 107 | 914 | 214 | 1,865 | ||||||||||||
Impairment of goodwill and intangible assets | — | 7,588 | — | 7,588 | ||||||||||||
Facilities | 160 | 411 | 311 | 885 | ||||||||||||
Total costs and expenses | 8,263 | 19,462 | 15,930 | 30,912 | ||||||||||||
Operating loss | (3,607) | (12,273) | (5,856) | (16,338) | ||||||||||||
Other income (expenses) | ||||||||||||||||
Other income | 49 | 120 | 49 | 240 | ||||||||||||
Interest expense, net | (813) | (872) | (1,633) | (1,270) | ||||||||||||
Foreign exchange loss | — | (1) | — | (4) | ||||||||||||
Loss before provision for income taxes | (4,371) | (13,026) | (7,440) | (17,372) | ||||||||||||
Income tax expense | — | — | — | — | ||||||||||||
Net loss | $ | (4,371) | $ | (13,026) | $ | (7,440) | $ | (17,372) | ||||||||
Net loss per share, basic and fully diluted | $ | (0.28) | $ | (1.23) | $ | (0.49) | $ | (1.73) | ||||||||
Weighted average shares of common stock outstanding, basic and diluted | 15,503,132 | 10,626,516 | 15,140,332 | 10,016,146 | ||||||||||||
MARPAI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands) | ||||||||
Six months ended | ||||||||
2025 | 2024 | |||||||
Cash flows from operating activities: | ||||||||
Net loss | $ | (7,440) | $ | (17,372) | ||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Depreciation and amortization | 214 | 1,865 | ||||||
Loss on sale of receivables | — | 306 | ||||||
Share-based compensation | 1,043 | 2,421 | ||||||
Amortization of right-of-use asset | 31 | 120 | ||||||
Non-cash interest | 914 | 646 | ||||||
Amortization of debt premium and debt issuance costs | (17) | 62 | ||||||
Impairment of goodwill and intangible assets | — | 7,588 | ||||||
Issuance of common stock to vendors in exchange for services | 1,008 | — | ||||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable and unbilled receivables | (56) | 519 | ||||||
Prepaid expenses and other assets | 176 | (66) | ||||||
Accounts payable | 479 | (1,477) | ||||||
Accrued expenses | (516) | (173) | ||||||
Accrued fiduciary obligations | 871 | (1,625) | ||||||
Operating lease liabilities | (123) | (250) | ||||||
Other liabilities | 92 | 731 | ||||||
Net cash used in operating activities | (3,324) | (6,705) | ||||||
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 (Note 7) | 3,000 | 5,978 | ||||||
Payments of debt issuance costs | (162) | (499) | ||||||
Payments to buyer of receivables | — | (1,816) | ||||||
Payments on convertible debentures (Note 7) | (1,500) | — | ||||||
Payments to seller for acquisition | (196) | (631) | ||||||
Proceeds from issuance of common stock in a private offering, net | 730 | 2,727 | ||||||
Net cash provided by financing activities | 1,872 | 7,268 | ||||||
Net (decrease) increase in cash, cash equivalents and restricted cash | (952) | 563 | ||||||
Cash, cash equivalents and restricted cash at beginning of period | 9,232 | 13,492 | ||||||
Cash, cash equivalents and restricted cash at end of period | $ | 8,280 | $ | 14,055 | ||||
Reconciliation of cash, cash equivalents, and restricted cash reported in the | ||||||||
Cash and cash equivalents | $ | 619 | $ | 1,293 | ||||
Restricted cash | 7,661 | 12,762 | ||||||
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statement of cash flows | $ | 8,280 | $ | 14,055 | ||||
Supplemental disclosure of cash flow information | ||||||||
Cash paid for interest | $ | 781 | $ | 1,259 | ||||
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SOURCE Marpai
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