Marpai, Inc. — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that Marpai, Inc. filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $18.10M | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | $28.17M | Mar 25, 2026 |
| FY2024 | Dec 31, 2023 | $37.16M | Mar 27, 2025 |
Revenue
Revenue recognized from contracts with customers under ASC 606, excluding taxes collected on behalf of government authorities. This is the primary revenue concept for many companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2023 | Dec 31, 2023 | $37.16M | Mar 26, 2024 |
| FY2023 | Dec 31, 2022 | $24.34M | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | $14.23M | Jul 27, 2023 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($16.56M) | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | ($22.09M) | Mar 25, 2026 |
| FY2024 | Dec 31, 2023 | ($28.75M) | Mar 27, 2025 |
| FY2023 | Dec 31, 2022 | ($26.47M) | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | ($15.98M) | Jul 27, 2023 |
| FY2021 | Dec 31, 2020 | ($3.87M) | Mar 30, 2022 |
Operating Income
Profit from core business operations before interest expense and income taxes (also known as EBIT). Excludes non-operating items, making it a cleaner measure of operational efficiency than net income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($13.55M) | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | ($22.09M) | Mar 25, 2026 |
| FY2024 | Dec 31, 2023 | ($27.98M) | Mar 27, 2025 |
| FY2023 | Dec 31, 2022 | ($26.96M) | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | ($15.86M) | Jul 27, 2023 |
| FY2021 | Dec 31, 2020 | ($3.37M) | Mar 30, 2022 |
R&D Expense
Spending on research and development activities — developing new products, improving existing ones, or conducting basic research. High R&D relative to revenue is common in technology and pharmaceutical companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $7.0K | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | $29.0K | Mar 25, 2026 |
| FY2024 | Dec 31, 2023 | $1.31M | Mar 27, 2025 |
| FY2023 | Dec 31, 2022 | $3.71M | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | $1.73M | Jul 27, 2023 |
| FY2021 | Dec 31, 2020 | $1.77M | Mar 30, 2022 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($7.45M) | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | ($15.16M) | Mar 25, 2026 |
| FY2024 | Dec 31, 2023 | ($15.75M) | Mar 27, 2025 |
| FY2023 | Dec 31, 2022 | ($35.24M) | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | ($10.80M) | Jul 27, 2023 |
| FY2021 | Dec 31, 2020 | ($1.95M) | Mar 30, 2022 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2023 | Dec 31, 2022 | $362.8K | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | $273.4K | Jul 27, 2023 |
| FY2021 | Dec 31, 2020 | $30.7K | Mar 30, 2022 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $10.90M | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | $12.88M | Mar 25, 2026 |
| FY2024 | Dec 31, 2023 | $31.68M | Mar 27, 2025 |
| FY2023 | Dec 31, 2022 | $49.95M | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | $44.20M | Jul 27, 2023 |
| FY2021 | Dec 31, 2020 | $6.53M | Mar 30, 2022 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $43.47M | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | $40.59M | Mar 25, 2026 |
| FY2024 | Dec 31, 2023 | $45.12M | Mar 27, 2025 |
| FY2023 | Dec 31, 2022 | $43.82M | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | $14.49M | Jul 27, 2023 |
| FY2021 | Dec 31, 2020 | $10.03M | Mar 30, 2022 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($32.56M) | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | ($27.71M) | Mar 25, 2026 |
| FY2025 | Dec 31, 2023 | ($13.44M) | Mar 25, 2026 |
| FY2024 | Dec 31, 2022 | $6.14M | Mar 27, 2025 |
| FY2023 | Dec 31, 2021 | $29.71M | Mar 26, 2024 |
| FY2022 | Dec 31, 2020 | ($3.50M) | Jul 27, 2023 |
| FY2021 | Dec 31, 2019 | ($873.1K) | Mar 30, 2022 |
Goodwill
An intangible asset representing the premium paid above fair value when acquiring another company. A large goodwill balance signals a history of acquisitions at premium prices.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2024 | Dec 31, 2023 | $3.02M | Mar 27, 2025 |
| FY2023 | Dec 31, 2022 | $5.84M | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | $2.38M | Jul 27, 2023 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($115.39M) | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | ($98.83M) | Mar 25, 2026 |
| FY2024 | Dec 31, 2023 | ($76.75M) | Mar 27, 2025 |
| FY2023 | Dec 31, 2022 | ($47.99M) | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | ($21.53M) | Jul 27, 2023 |
| FY2021 | Dec 31, 2020 | ($5.54M) | Mar 30, 2022 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $133.0K | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | $764.0K | Mar 25, 2026 |
| FY2024 | Dec 31, 2023 | $1.15M | Mar 27, 2025 |
| FY2023 | Dec 31, 2022 | $13.76M | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | $19.18M | Jul 27, 2023 |
| FY2021 | Dec 31, 2020 | $1.75M | Mar 30, 2022 |
Long-Term Debt
Debt obligations due more than one year from the balance sheet date — bonds, term loans, and notes payable. High long-term debt relative to equity can signal elevated financial leverage.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $19.40M | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | $17.79M | Mar 25, 2026 |
| FY2023 | Dec 31, 2023 | $19.40M | Mar 26, 2024 |
| FY2022 | Dec 31, 2022 | $20.20M | Jul 27, 2023 |
| FY2021 | Dec 31, 2021 | $0 | Mar 30, 2022 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 0 | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | (1) | Mar 25, 2026 |
| FY2024 | Dec 31, 2023 | (4) | Mar 27, 2025 |
| FY2023 | Dec 31, 2022 | (5) | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | (1) | Jul 27, 2023 |
| FY2021 | Dec 31, 2020 | (1) | Mar 30, 2022 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 0 | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | (1) | Mar 25, 2026 |
| FY2024 | Dec 31, 2023 | (4) | Mar 27, 2025 |
| FY2023 | Dec 31, 2022 | (5) | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | (1) | Jul 27, 2023 |
| FY2021 | Dec 31, 2020 | (1) | Mar 30, 2022 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 24.04M | Mar 25, 2026 |
| FY2025 | Dec 31, 2024 | 14.24M | Mar 25, 2026 |
| FY2024 | Dec 31, 2023 | 7.96M | Mar 27, 2025 |
| FY2023 | Dec 31, 2022 | 5.32M | Mar 26, 2024 |
| FY2022 | Dec 31, 2021 | 20.30M | Jul 27, 2023 |
| FY2021 | Dec 31, 2020 | 142,369 | Mar 30, 2022 |