MARPAI REPORTS SECOND QUARTER 2025 FINANCIAL RESULTS
Marpai Slashes Losses by Two-Thirds in Q2 2025, Paving the Way to Profitability.Operating Expenses Cut 70% as Turnaround Gains Traction
TAMPA, Fla., Aug. 13, 2025 /PRNewswire/ -- Marpai, Inc. ("Marpai" or the "Company") (OTCQX:MRAI), a leader in innovative healthcare technology and Third-Party Administration (TPA) services, today announced second quarter 2025 results that mark a decisive step forward in its turnaround strategy.
The Company delivered substantial quarterly year-over-year improvements across key financial metrics:
Operating expenses down 70%, saving $9.9 million
Operating loss reduced by 71% to $3.6 million, an $8.7 million improvement
Net loss reduced by 66% to $4.4 million, also an $8.7 million improvement
Net loss per share improved by $0.95
Net revenues down $2.5 million
"We believe that our turnaround is real and accelerating," said Damien Lamendola, Chief Executive Officer of Marpai. "In just one year, we have significantly strengthened our financial position by cutting costs, streamlining operations, and staying laser-focused on profitability. We estimate that we are on track to deliver a profitable company in the first quarter of 2026. Our pipeline of new business for January 1st 2026 is strong, and we expect to make a major infrastructure investment in Q3 to further improve efficiency and client service. I believe deeply in Marpai's future. That's why I continue to invest my own personal capital in the company.
While net revenues for the quarter were $4.7 million, down $2.5 million from the same quarter last year due to transitional impacts, the Company's sharp focus on cost control and operational discipline has resulted in a much leaner, stronger platform for growth."
Webcast and Conference Call Information
Marpai expects to host a conference call and webcast on Thursday, August 14, 2025, at 8:30 a.m. ET to review the Company's operational and financial highlights for its second quarter ended June 30, 2025.
Investors interested in listening to the conference call may do so by dialing (800)-836-8184 for domestic callers or +1-646-357-8785 for international callers, or via webcast: https://app.webinar.net/pD32GbLd5Mx
About Marpai, Inc.
Marpai, Inc. (OTCQX:MRAI) is a technology platform company which operates subsidiaries that provide TPA and value-oriented health plan services to employers that directly pay for employee health benefits. Primarily competing in the $150 billion TPA sector serving self-funded employer health plans representing over $1.5 trillion in annual claims. Through its Marpai Saves initiative, the Company works to deliver the healthiest member population for the health plan budget. Operating nationwide, Marpai offers access to leading provider networks including Aetna and Cigna and all TPA services. For more information, visit www.marpaihealth.com, the content of which is not incorporated by reference into this press release. Investors are invited to visit https://ir.marpaihealth.com.
Forward-Looking Statement Disclaimer
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "guidance," "may," "can," "could", "will", "potential", "should," "goal" and variations of these words or similar expressions. For example, the Company is using forward-looking statements when it discusses that it continues to make strong progress with its turnaround efforts, that improvements in its operating expenses and bottom line signals a critical inflection point for the Company, that it expects to make a major infrastructure investment in the third quarter, its belief that it is on track to achieve profitability in the first quarter of 2026 and that its focus on cost control and operational discipline has resulted in a much leaner, stronger platform for growth. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Marpai's current expectations and speak only as of the date of this release. Actual results may differ materially from Marpai's current expectations depending upon a number of factors. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business. Except as required by law, Marpai does not undertake any responsibility to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.
More detailed information about Marpai and the risk factors that may affect the realization of forward-looking statements is set forth in Marpai's filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov.
MARPAI, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data)
June 30,2025
December 31, 2024
(Unaudited)
ASSETS:
Current assets:
Cash and cash equivalents
$
619
$
764
Restricted cash
7,661
8,468
Accounts receivable, net of allowance for credit losses of $1 and $1 as of June 30, 2025,
and December 31, 2024, respectively
548
837
Unbilled receivables
914
569
Due from buyer for sale of business unit
—
500
Prepaid expenses and other current assets
590
759
Total current assets
10,332
11,897
Capitalized software, net
227
441
Operating lease right-of-use assets
265
296
Security deposits
229
229
Other long-term asset
8
15
Total assets
$
11,061
$
12,878
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Accounts payable
$
3,588
$
3,109
Accrued expenses
2,069
2,585
Accrued fiduciary obligations
7,179
6,308
Deferred revenue
743
625
Current portion of operating lease liabilities
250
244
Current portion of convertible debentures, net
3,037
3,106
Other short-term liabilities
2,868
3,005
Total current liabilities
19,734
18,982
Other long-term liabilities
15,719
14,891
Convertible debentures, net of current portion
7,311
5,921
Operating lease liabilities, net of current portion
664
