Spectral AI Inc 2026年季度报告

FORM 10-Q (MARK ONE)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 Commission file number: SPECTRAL AI, INC.(Exact Name of Registrant as Specified in Its Charter) Securities registered pursuant to Section 12(b) of the Exchange Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of May 11, 2026, there were 31,823,985 shares of Common Stock, $0.0001 par value, issued and outstanding. SPECTRAL AI, INC. FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2026 TABLE OF CONTENTS Page Part I. Financial Information1Item 1. Interim Financial Statements1Unaudited Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 20251Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months endedMarch 31, 2026 and 20252Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Deficit for the three months endedMarch 31, 2026 and 20253Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 20254Notes to Unaudited Condensed Consolidated Financial Statements5Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations19Item 3. Quantitative and Qualitative Disclosures About Market Risk30Item 4. Controls and Procedures30Part II. Other InformationItem 1. Legal Proceedings31Item 1A. Risk Factors31Item 2. Unregistered Sales of Equity Securities and Use of Proceeds31Item 3. Defaults Upon Senior Securities31Item 4. Mine Safety Disclosures31Item 5. Other Information31Item 6. Exhibits31Part III. Signatures32i PART I - FINANCIAL INFORMATION Item 1. Interim Financial Statements SPECTRAL AI, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except share and per share data) March31,December31,20262025 Stockholders’ DeficitPreferred stock ($0.0001 par value); 1,000,000 shares authorized; no shares issued and outstanding asof March 31, 2026 and December 31, 2025, respectively--Common stock ($0.0001 par value); 80,000,000 shares authorized; 31,823,895 and 30,688,895 sharesissued and outstanding as of March 31, 2026 and December 31, 2025, respectively33Additional paid-in capital50,36950,030Accumulated other comprehensive income3040Accumulated deficit(59,212)(55,800)Total Stockholders’ Deficit(8,810)(5,727)Total Liabilities and Stockholders’ Deficit$17,734$21,405 SPECTRAL AI, INC. SPECTRAL AI, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands) Cash flows from operating activities:Net income (loss) SPECTRAL AI, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 1. NATURE OF THE BUSINESS AND PRESENTATION Overview Spectral AI, Inc., a Delaware corporation (the “Company”) is an Artificial Intelligence (“AI”) company focused on predictivemedical diagnostics. Our DeepView®System uses proprietary AI algorithms to distinguish between healthy, partially damaged andfully damaged human tissue characteristics invisible to the naked eye, at the initial time of wound presentation. The DeepView Systemdelivers a binary prediction on the wound’s capacity to heal or not-heal by a specified time in the future. Our DeepView System’soutput is specifically engineered to assist the physician in making a more accurate, timely and informed diagnostic decision regardingthe treatment of the patient’s wounds. Our focus is on our burn indication. In February 2024, our DeepView System, comprised of the multispectral imaging (“MSI”) component integrated with thepredictive AI-Burn®software component, received United Kingdom Conformity Assessed (“U