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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Marpai
Marpai (MRAI) investor relations material
Marpai Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
Q3 revenue rose 9.6% YoY to $4.424M, while operating loss narrowed to $2.506M; 9M revenue declined 7.6% to $13.034M and net loss widened to $11.052M.
Liquidity remains critical: unrestricted cash was $360K at September 30, with $11.557M of operating cash outflow in 9M; management concluded substantial doubt exists about continuing as a going concern for the next 12 months.
Financial highlights
Q3 net loss was $3.286M versus $3.494M YoY; net loss attributable to common stockholders was $3.448M, including $162K of cumulative preferred dividends.
9M operating loss was $8.423M versus $8.627M; net loss was $11.052M versus $10.934M, and basic/diluted loss per share improved to $0.43 from $0.69.
Q3 cost of revenue increased 14.7% YoY to $3.4M, while 9M cost of revenue fell 5.3% to $9.8M; 9M G&A rose 7.3% to $7.3M.
Outlook and guidance
Additional capital is required to fund operations and investment until cash self-sufficiency; plans include equity, debt and potentially non-strategic asset sales, with no assurance of favorable terms or completion.
AXA minimum annual payments are $0 in 2026, $1.0M in 2027, $5.0M in 2028 and approximately $22.3M in 2029; additional indebtedness is restricted under the amendment.
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Latest events from Marpai
- Five directors and UHY LLP face votes amid board turnover and insider financing.MRAI
Proxy filing - Q2 2026 revenue dropped 10.5% to $4.2M, with improved margins but ongoing liquidity risks.MRAIQ2 2026
- Q1 2026 saw revenue drop 18% and a net loss of $3.2M, with urgent liquidity and debt restructuring.MRAIQ1 2026
- Revenue declined 36% and net loss improved, but liquidity and going concern risks remain acute.MRAIQ4 2025
- Board seeks approval for director elections, auditor ratification, and preferred stock authorization.MRAIProxy Filing
- Shareholders will vote on director elections, auditor ratification, and preferred stock authorization.MRAIProxy Filing
- Q3 2024 losses narrowed as cost cuts and investments offset revenue decline and liquidity risks.MRAIQ3 2024
- Q2 2024 saw a 28% revenue drop, $13M net loss, and a $7.6M impairment charge.MRAIQ2 2024
- Losses narrowed in 2024; new PBM products and partnerships target 2025 profitability.MRAIQ4 2024
Next Marpai earnings date
Q4 202624 Feb, 2027
Marpai
Next Marpai earnings date
Q4 202624 Feb, 2027
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Frequently asked questions
Marpai, Inc. is a technology-driven healthcare company specializing in the administration of health plans for self-insured employers. The company uses artificial intelligence (AI) and data analytics to optimize healthcare outcomes, aiming to predict and prevent costly medical events for its clients. Marpai’s platform provides services such as claims processing, plan management, and member engagement, helping employers manage healthcare costs while improving employee well-being. The company's technology is designed to offer personalized healthcare experiences, connecting members with the right care at the right time. The company is headquartered in Tampa, Florida, and its shares are listed on the NASDAQ.