Spectral AI, Inc. (Nasdaq: MDAI) has announced its financial results for the first quarter ending March 31, 2025. The company reported a 6.0% increase in Research & Development Revenue, reaching $6.7 million, up from $6.3 million in Q1 2024. Additionally, Spectral AI has improved its capital structure, now holding $14.1 million in cash. The company has also completed a debt financing agreement of up to $15.0 million with Avenue Capital Group, including an initial drawdown of $8.5 million in March 2025. This was complemented by a $2.7 million equity raise from institutional and other investors, aimed at supporting the commercialization of the DeepView System in the U.S. Spectral AI continues to work towards its De Novo submission to the FDA, expected in the first half of 2025. The company reiterated its revenue guidance for FY 2025 at approximately $21.5 million, excluding potential contributions from the upcoming commercialization of the DeepView System.
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