Spectral AI, Inc. (MDAI) Earnings Call Transcripts

Spectral AI, Inc.'s Latest Earnings Call - Q1 FY2026

In Q1 2026, Spectral AI, Inc. reported a decline in R&D revenue to $4 million, down from $6.7 million year-over-year, primarily due to the completion of the Project BioShield contract. The company maintained its revenue guidance for the fiscal year at approximately $18.5 million, which does not include significant contributions from the anticipated commercialization of the DeepView system. Management highlighted progress in FDA discussions and a $31.7 million funding award from BARDA, which is expected to support future growth initiatives.

Reported metrics

Guidance from management

Management reiterated its revenue guidance for 2026 at approximately $18.5 million, which does not include significant contributions from the DeepView system sales. This guidance reflects a conservative outlook as the company prepares for commercialization.

What management said

Thanks, David. Before turning things over for questions, I want to address our 2026 revenue outlook. For this year, we are reiterating our revenue guidance of approximately $18.5 million which includes the effect of the accelerated BARDA funding. This guidance does not include any significant contributions from the sale of the DeepView System. With that, I'll open the floor to any questions. Thank you.

Yes. I mean I think you're hitting on a good point on the $31.7 million accelerated funding under Phase 2, we'll see some of that in 2026. I mean revenue recognition is the issue upon why we won't generally see much of it in 2026. But you should see much of that being spread out in 2027, especially with us launching the economic outcome study. We've worked hard on the protocol -- that will take some time in 2026, but...

What analysts pressed on

Analysts expressed concerns regarding the timeline for FDA approval and the potential impact on revenue generation. There were also questions about the cadence of the BARDA funding and how it would affect future revenue recognition.

Main topics on the call

• FDA Application Progress — Management expressed confidence in their FDA application timeline, stating, "we expect a resolution of our application by the end of the second quarter." This positive sentiment indicates potential for upcoming commercia...
• Funding from BARDA — Spectral AI secured $31.7 million in funding from BARDA, which will support the acceleration of the DeepView system's development. This funding is seen as a critical enabler for future R&D and commercialization efforts.
• Revenue Guidance Maintenance — The company reiterated its revenue guidance of approximately $18.5 million for 2026, which excludes significant contributions from the DeepView system sales. This indicates a cautious approach to future revenue expectati...
• Leadership Changes — The appointment of David McGuire as CFO was highlighted, with management expressing optimism about his experience and the financial infrastructure he will bring. This change is viewed positively as it may enhance operati...

Read the full Spectral AI, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 11 Spectral AI, Inc. earnings call transcripts on record, spanning February 27, 2023 to May 12, 2026. Based on this history, Spectral AI, Inc. reports semi-annually. The most recent call on file is dated May 12, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

MDAI

Exchange

NasdaqCM

Country

US

Sector

Health Care

Industry

Health Care Equipment and Supplies

Calls on record

11

First call

February 27, 2023

Most recent

May 12, 2026

Reporting cadence

semi-annually