Spectral AI posts earnings beat, revenue misses forecasts

Spectral AI on Thursday reported adjusted earnings per share of $0.02 above Wall Street estimates, while revenue fell short of consensus forecasts.

The AI-driven diagnostics company posted adjusted earnings of $0.03 per share, beating the $0.01 estimate from analysts surveyed by Refinitiv. Revenue for the quarter totaled $1.2 million, missing the estimated $1.4 million.

Spectral AI attributed the revenue shortfall to delayed contract signings and slower-than-expected adoption of its AI-powered wound care solutions. The company noted that several large hospital systems deferred purchasing decisions due to budget constraints amid broader economic uncertainty.

Chief Executive Officer Shawn Nason emphasized progress in regulatory approvals and partnerships, stating that the firm remains on track to scale commercialization in 2025. "We are seeing strong clinical validation of our technology, which positions us well for long-term growth," Nason said.

The earnings report follows Spectral AI's recent FDA clearance for its AI wound assessment platform, a milestone the company highlighted as a key driver for future revenue expansion. Analysts at William Blair maintained a neutral rating on the stock, citing near-term revenue headwinds despite the earnings beat.

Spectral AI shares were down 3% in after-hours trading following the release, paring gains from earlier in the session.