Spectral AI
Develops DeepView to assess burn wounds before treatment decisions.
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Profile
Develops DeepView, a wound-assessment system using optical technology and AI-enabled algorithms. Its burn indication has FDA De Novo Classification for U.S. commercial distribution, while government-funded R&D has been the business's main revenue base.
DeepView, its core platform, combines proprietary optical technology with AI-enabled algorithms to assess a wound's healing potential. The FDA has granted De Novo Classification for DeepView's burn indication, authorizing U.S. commercial distribution.
Based in Dallas, the company has devoted substantially all effort to DeepView research, validation, and commercialization. Its R&D revenue has been closely tied to a BARDA contract supporting clinical validation, regulatory work, product development, procurement, and deployment.
The company became Nasdaq-listed through a 2023 SPAC combination. BARDA is its largest single revenue source, and the contract is not guaranteed to be fully awarded or extended.
Company facts
Key statistics
Year to date +9.0% · Average volume (30d) 167.1K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Target |
|---|---|---|---|---|
| May 26, 2026 | BTIG | Reiterate | Buy | $4 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 11, 2026Q2 FY26 | −$0.14 | −$0.13 | +3.7% | $4.2M | $3.5M | −15.5% | −8.19% |
| May 12, 2026Q1 FY26 | −$0.11 | −$0.11 | 0.0% | $4.1M | $4.0M | −3.2% | −5.12% |
| Mar 24, 2026Q4 FY25 | −$0.12 | −$0.11 | +8.3% | $2.9M | $3.8M | +32.4% | −6.67% |
| Nov 11, 2025Q3 FY25 | −$0.09 | −$0.13 | −52.9% | $5.1M | $3.8M | −25.1% | −6.98% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $6.7M | $5.1M | $3.8M | $3.8M | $4.0M | $3.5M | |
| Gross profit | $3.2M | $2.3M | $1.6M | $1.5M | $2.0M | $1.1M | |
| Operating income | −$896.0K | −$2.1M | −$3.3M | −$2.5M | −$2.0M | −$4.3M | |
| Net income | $2.9M | −$8.0M | −$3.6M | $642.0K | −$3.4M | −$4.2M | |
| Diluted EPS | $0.11 | −$0.31 | −$0.13 | $0.02 | −$0.11 | −$0.13 | |
| Gross margin | 47.2% | 45.2% | 42.7% | 39.8% | 50.8% | 31.6% | |
| Operating margin | -13.4% | -41.9% | -88.1% | -64.5% | -49.4% | -122.7% |
Fiscal years (4-quarter sums)FY22 $25.4M · FY23 $18.1M · FY24 $29.6M · FY25 $19.4M
Balance sheet, Jun 30, 2026Cash & short-term investments $14.0M · Total debt $16.3M · Total assets $19.4M · Shareholders' equity −$12.1M
Dividends
No dividends on record.
Ownership
Shares outstanding 31.82M · Float 22.74M · 71.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| John Michael DiMaio · director | 2.77M | 8.69% | Form 4 | Aug 17, 2026 |
| LMR Partners LLP | 2.11M | 6.20% | 13G | Aug 14, 2026 |
| Highlander Partners, L.P. | 900.0K | 2.83% | 13F | Apr 14, 2026 |
| Vanguard Capital Management LLC | 726.3K | 2.28% | 13F | May 15, 2026 |
| Geode Capital Management, LLC | 301.2K | 0.95% | 13F | May 15, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- AVITA Medical
Burn-center treatment pathway overlap through RECELL skin-cell therapy
- Integra LifeSciences
Severe-burn reconstruction overlap through dermal regeneration templates
- Solventum
Partial-burn wound-management overlap through V.A.C. negative-pressure therapy
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Spectral AI | $1.57 | −0.63% | $50.0M | — | — | 3.3 | −30.4% |
| AVITA Medical | $10.35 | +0.39% | $257.1M | — | — | 3.4 | +78.6% |
| Integra LifeSciences | $16.89 | 0.00% | $1.31B | — | 6.6 | 0.8 | +0.8% |
| Solventum | $90.50 | −0.68% | $15.78B | 11.1 | 13.5 | 1.9 | +2.2% |
| Median | 11.1 | 10.1 | 1.9 | +2.2% |