What is the 13F Pro Quality Score for MDAI?

13F Pro ranks Spectral AI, Inc. (MDAI) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View MDAI's current score at https://13fpro.ai/research/MDAI (free sign-up required for the full ranking).

Where does 13F Pro source MDAI data?

All Spectral AI, Inc. fundamentals and ownership data come directly from SEC EDGAR. Spectral AI, Inc. files with the SEC under CIK 1833498. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is MDAI in?

Spectral AI, Inc. (MDAI) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is MDAI research updated on 13F Pro?

MDAI's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Spectral AI, Inc.(MDAI)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Limited institutional coverage

Quality rankings require at least 50 unique 13-F institutional holders to ensure peer comparisons are meaningful. Only 43 institutional filers currently hold this stock.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

MDAI Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Spectral AI, Inc. (MDAI), a Healthcare sector company. MDAI is not currently included in 13F Pro's AI-ranked quality universe — quality rankings require at least 50 unique 13-f institutional holders to ensure peer comparisons are meaningful. only 43 institutional filers currently hold this stock. Based on the latest XBRL financial filings (Q1 2026), Spectral AI, Inc. reports quarterly revenue of $4.0M, net income of $-3.4M, an operating margin of -49.4%. Top institutional holders of MDAI by reported 13-F value include Highlander Partners, L.P., VANGUARD CAPITAL MANAGEMENT, GEODE CAPITAL MANAGEMENT,, based on the most recent SEC filings. MDAI trades on the Nasdaq exchange and files with the SEC under CIK 1833498. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MDAI daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Spectral AI, Inc. directly from SEC EDGAR.

Revenue

Q1 2026

$4.0M

Net Income

Q1 2026

$-3.4M

Free Cash Flow

Q1 2026

$-3.7M

Operating Margin

Q1 2026

-49.4%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

-33.6% YoY

$19.6MFY 2025

FY22 $25.4MFY23 $18.1MFY24 $29.6MFY25 $19.6M

Net Income

+50.1% YoY

$-7.6MFY 2025

FY22 $-2.9MFY23 $-20.9MFY24 $-15.2MFY25 $-7.6M

Operating Income

-30.7% YoY

$-8.6MFY 2025

FY22 $-2.6MFY23 $-13.0MFY24 $-6.6MFY25 $-8.6M

EPS (Diluted)

+65.9% YoY

$-0.29FY 2025

FY22 $-0.02FY23 $-1.48FY24 $-0.85FY25 $-0.29

Total Assets

+77.0% YoY

$21.4MFY 2025

FY22 $18.7MFY23 $10.7MFY24 $12.1MFY25 $21.4M

Total Debt

+231.9% YoY

$9.3MFY 2025

FY22 —FY23 —FY24 $2.8MFY25 $9.3M

Op. Cash Flow

-7.8% YoY

$-9.9MFY 2025

FY22 $-1.2MFY23 $-13.2MFY24 $-9.2MFY25 $-9.9M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$19.6M -33.6%	$29.6M +63.8%	$18.1M -28.8%	$25.4M	—	—
Net Income	$-7.6M +50.1%	$-15.2M +27.3%	$-20.9M -616.1%	$-2.9M -35.6%	$-2.1M	—
Operating Income	$-8.6M -30.7%	$-6.6M +49.3%	$-13.0M -390.5%	$-2.6M +22.6%	$-3.4M	—
EPS (Diluted)	$-0.29 +65.9%	$-0.85 +42.6%	$-1.48 -6848.4%	$-0.02	—	—
Total Assets	$21.4M +77.0%	$12.1M +13.1%	$10.7M -42.9%	$18.7M -92.6%	$254.1M +154000.3%	$164.9K
Total Debt	$9.3M +231.9%	$2.8M	—	—	—	—
Operating Cash Flow	$-9.9M -7.8%	$-9.2M +30.5%	$-13.2M -1039.4%	$-1.2M -40.7%	$-825.6K	—

AI Insight: MDAI Financial Trends

Spectral AI is in financial distress: revenue has collapsed 43% from Q2 2024 to Q1 2026, operating cash flow remains deeply negative, and the company carries mounting debt against negative equity.

• Revenue declined from $7M (Q2 2024) to $4M (Q1 2026), a 43% contraction over 9 quarters with no recovery.

• Operating cash flow has been negative every quarter, deteriorating to −$4M in Q1 2026, the worst level on record.

• Total debt rose from $1M (Q3 2024) to $9M (Q4 2025), while equity remained deeply negative throughout the period.

⚠ Equity swung from −$2M (Q1 2025) to −$9M (Q2 2025, Q1 2026), signaling accelerating shareholder dilution and solvency risk.

⚠ Operating losses persist (−$1M to −$3M per quarter) with no path to profitability visible in current trajectory.

⚠ Cash runway appears critical: negative FCF and rising debt suggest near-term funding or restructuring event likely.

AI Insight: MDAI Ratio Trends

Spectral AI remains deeply unprofitable with operating margins collapsing to -49.4% in Q1 2026, showing no sustained path to profitability.

• Operating margin deteriorated from -13.4% in Q1 2025 to -49.4% in Q1 2026, a 36pp decline signaling structural cost challenges.

• Net profit margin swung wildly: +43.2% in Q1 2025, then -157.3% in Q2 2025, -93.7% in Q3 2025, suggesting volatile one-time items masking underlying losses.

• ROA improved to 19.7% in Q4 2025 but reversed sharply to -77.0% in Q1 2026, indicating inconsistent asset utilization.

⚠ TTM operating margin of -57.1% and net margin of -82.0% reflect persistent cash burn and unsustainable business model.

⚠ Extreme quarter-to-quarter volatility across all profitability metrics suggests accounting irregularities or massive seasonal swings; credibility concern.

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Available Research

13F Pro tracks comprehensive data for Spectral AI, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of MDAI

Highlander Partners, L.P.
$1.3M900,000 sh
VANGUARD CAPITAL MANAGEMENT LLC
$1.1M726,290 sh
GEODE CAPITAL MANAGEMENT, LLC
$442.8K301,207 sh
JANE STREET GROUP, LLC
$324.9K221,001 sh
UNIVERSITY OF TEXAS/TEXAS AM INVESTMENT MANAGEMENT CO
$309.4K210,488 sh
BRIDGEWAY CAPITAL MANAGEMENT, LLC
$292.5K199,000 sh
VANGUARD FIDUCIARY TRUST CO
$208.4K141,796 sh
ARISTEIA CAPITAL, L.L.C.
$203.7K359,943 sh
BlackRock, Inc.
$179.7K122,254 sh
LMR Partners LLP
$172.2K307,509 sh

Fund	Value	Shares
Highlander Partners, L.P.	$1.3M	900,000
VANGUARD CAPITAL MANAGEMENT LLC	$1.1M	726,290
GEODE CAPITAL MANAGEMENT, LLC	$442.8K	301,207
JANE STREET GROUP, LLC	$324.9K	221,001
UNIVERSITY OF TEXAS/TEXAS AM INVESTMENT MANAGEMENT CO	$309.4K	210,488
BRIDGEWAY CAPITAL MANAGEMENT, LLC	$292.5K	199,000
VANGUARD FIDUCIARY TRUST CO	$208.4K	141,796
ARISTEIA CAPITAL, L.L.C.	$203.7K	359,943
BlackRock, Inc.	$179.7K	122,254
LMR Partners LLP	$172.2K	307,509

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Is MDAI a good stock to buy?

13F Pro's AI-powered analysis of Spectral AI, Inc. (MDAI) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for MDAI are available on the MDAI stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own MDAI?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling MDAI. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Spectral AI, Inc.'s investment landscape.