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Visual21 Nov 2025
Data center suppliers
Marpai (MRAI) investor relations material
Marpai Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Q3 2025 revenue was $4.0 million, down 42% year-over-year due to customer turnover and market changes.
Net loss for Q3 2025 was $3.5 million, an improvement from $3.6 million in Q3 2024.
Significant operational and financial improvements were achieved through cost discipline and efficiency initiatives.
Leadership is focused on client-centric operations, technology upgrades, and retention, while exploring strategic alternatives including investments, mergers, or a sale.
Positioned for aggressive, sustainable growth in 2026 with a robust sales pipeline and operational stabilization.
Financial highlights
Operating expenses decreased by 24% year-over-year, from $5.0M to $3.8M.
Operating loss improved by 2% to $3.5 million in Q3 2025; net loss per share improved to $(0.20) from $(0.30).
Nine-month 2025 revenue was $14.1 million, down 35% from $21.6 million in 2024.
Operating loss for the nine months was $8.6 million, a 56% improvement from $19.4 million in 2024.
Total assets at September 30, 2025: $12.8M; total liabilities: $46.1M; stockholders' deficit: $(33.3M).
Outlook and guidance
Double-digit new client contracts are booked for January 2026, indicating strong base business growth.
Technology upgrades, operational efficiencies, and integrated PBM offerings are expected to accelerate profitability, with a target of Q1 2026.
Management projects a need for additional capital to fund operations until revenue scales to self-sufficiency, with substantial doubt about going concern.
Expected cost savings from new operating system?
Quantify 'high double-digit' new client deals.
How does MarpaiRx differentiate from competitors?
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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.
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