Welcome to our dedicated page for Spectral AI SEC filings (Ticker: MDAI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Spectral AI, Inc. (MDAI) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. Spectral AI is a Dallas-based predictive AI company focused on medical diagnostics for wound care, and its filings offer detailed information on the development of its DeepView® System, financial condition, and capital structure.
Through this page, users can review annual reports on Form 10-K and quarterly reports on Form 10-Q, where Spectral AI discusses research and development revenue, gross margins, operating expenses, and the role of its BARDA Project BioShield contract in funding the DeepView technology. These reports also describe risks, regulatory pathways, and the company’s status as an emerging growth company.
Current reports on Form 8-K document material events, such as securities purchase agreements, private placements of warrants and pre-funded warrants, and placement agency arrangements. For example, an 8-K filing describes a securities purchase agreement for common stock, warrants, and pre-funded warrants, including exercise prices, terms, and related registration rights. Such filings outline how Spectral AI raises growth capital to support continued development of the DeepView System and general corporate purposes.
Investors interested in equity and warrant terms can use this page to follow details on listed redeemable warrants trading under the symbol MDAIW, as well as privately placed warrants and pre-funded warrants described in registration statements and 8-K exhibits. Insider transactions reported on Form 4, when available, can help users monitor changes in beneficial ownership by directors and officers.
Stock Titan enhances these filings with AI-powered summaries that explain key points from lengthy documents, highlight important changes in capital structure or obligations, and surface items related to DeepView’s regulatory progress and BARDA funding. Real-time updates from EDGAR ensure that new 10-K, 10-Q, 8-K, and Form 4 filings for MDAI are quickly reflected, giving investors and researchers a structured way to analyze Spectral AI’s regulatory and financial disclosures.
Spectral AI (MDAI) reported Q3 2025 results. Research and development revenue was $3.8 million, down 53.6% year over year as activity tapered ahead of its FDA De Novo submission. Gross margin was 42.7%, with a gross profit of $1.6 million.
Operating loss was $3.3 million and net loss was $3.6 million, or $0.13 per share. Cash ended at $10.5 million, supported by financing inflows. Year to date, operating cash outflows were $7.4 million, while financing provided $12.7 million.
The company drew $8.5 million under a loan facility with Avenue Capital, part of up to $15.0 million available, and issued associated warrants. A BARDA contract provides up to $150.0 million in potential funding across phases, with $54.9 million in the base phase. Subsequent to quarter-end, the company raised $7.6 million via equity and warrants.
Spectral AI, Inc. (MDAI) filed a resale prospectus covering up to 4,989,502 shares of common stock. These shares are issuable upon exercise of previously issued warrants and pre-funded warrants held by the selling stockholders. The company states, “We will not receive any proceeds from the sale of the common stock by the selling stockholders.”
The registration covers 4,000,000 shares underlying Investor Warrants at an exercise price of $2.51 per share, 935,000 shares underlying Pre-Funded Warrants with a $0.0001 exercise price (purchase price $1.8999), and 54,502 shares underlying Dominari Warrants at $2.51, each warrant expiring on October 22, 2030. Investor Warrants become exercisable on the earlier of stockholder approval for issuances or six months after issuance. The company would receive cash only upon any warrant exercises paid in cash.
Shares outstanding were 30,688,895 as of October 28, 2025. MDAI last traded at $2.18 on October 29, 2025 on Nasdaq. This filing provides a pathway for holders to resell shares from prior financing arrangements; it does not reflect a new primary capital raise.
Spectral AI (MDAI) completed a financing that raised approximately $7,600,000 through a registered direct offering and a concurrent private placement. The company sold 3,065,000 registered shares at $1.90 per share under its effective S-3, and, in a private placement, issued warrants to purchase up to 4,000,000 shares at $2.51 and pre-funded warrants to purchase up to 935,000 shares at a $0.0001 exercise price.
The warrants become exercisable on the earlier of stockholder approval or six months from issuance and expire five years after issuance, with a 4.99% beneficial ownership cap (adjustable up to 9.99% after 61 days). Pre-funded warrants are immediately exercisable with a 9.99% cap (adjustable as stated). Closing occurred on October 24, 2025. Northland acted as placement agent on a reasonable best efforts basis; its cash fee is 6.00% of gross proceeds from the share sale. The company plans to use net proceeds for working capital and general corporate purposes and agreed to file a resale registration within 10 days pursuant to a registration rights agreement.
Spectral AI, Inc. (Nasdaq: MDAI) is registering and offering 3,065,000 shares of common stock at $1.90 per share in a registered direct offering. The company expects net proceeds of approximately $5.1 million after fees and expenses and plans to use the funds for working capital and general corporate purposes.
In a concurrent private placement, the company is also selling pre-funded warrants to purchase up to 935,000 shares at an exercise price of $0.0001 per share and warrants to purchase up to 4,000,000 shares at an exercise price of $2.51 per share; these securities and their underlying shares are not registered here. Northland Securities, Inc. is acting as sole placement agent on a reasonable best efforts basis. Shares outstanding were 27,623,895 as of October 22, 2025, and are expected to be 30,688,895 after this offering. The company cites public float of approximately $52.1 million and states current S-3 capacity under General Instruction I.B.6 to offer up to approximately $11.1 million.
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