Spectral AI Inc. reported disappointing financial results for Q3 2025, including reduced research revenues and a widened net loss, while maintaining a stable cash position to support ongoing development.
- R&D revenue dropped to $3.8 million from $8.2 million year-over-year due to reduced BARDA reimbursements.
- Net loss increased to $3.6 million, compared to a $1.5 million loss in Q3 2024, driven by higher administrative costs.
- Cash and cash equivalents remained steady at $10.5 million, bolstered by a recent $7.6 million equity offering.
- FDA submission for the DeepView system marks a crucial milestone for the company's growth strategy, despite slower interactions due to government delays.
- General and administrative expenses rose to $5 million, reflecting increased consulting costs and non-billable work.
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