MDAI Reddit Mentions | ChartExchange

**\[DD\] From Burns to Billions? Evaluating Spectral AI’s Scalable AI Diagnostics Platform**
# 📈 Stock Snapshot (as of July 29, 2025)
* **Ticker:** MDAI (NASDAQ)
* **Current Price:** \~$2.75
* **Market Cap:** \~$70.8M
* **52-Week Range:** $0.82 – $3.25
* **YTD Performance:** \+61.76%
# ✅ What They Do (Business Overview)
Spectral AI is a Dallas-based medtech company focused on AI-powered wound diagnostics.
* Their DeepView® system uses multispectral imaging + machine learning to **predict wound healing outcomes** within hours.
* Targets burns and diabetic foot ulcers (DFUs), both high-cost, misdiagnosed clinical areas.
* Already deployed in UK NHS hospitals. Currently pursuing **FDA De Novo clearance** for U.S. rollout.
* DeepView received **FDA Breakthrough Device Designation** in 2018.
# 🧪 Clinical Highlights
* **95.3% diagnostic accuracy** in multi-center burn trials (vs. 50–75% for humans)
* Significant improvements in clinician detection rates (61% → 89%)
* Strong performance and adoption in UK NHS
* Awarded “Best Research Project” at 2025 Education Awards for DFU trials
# 🏛️ Regulatory Timeline
* **June 2025:** De Novo 510(k) submitted to FDA
* **Q2–Q3 2026:** Expected FDA approval
* Longstanding BARDA partner (U.S. government agency) since 2013
* Already certified under UKCA regulation; EU and AUS expansion planned
# 💰 Financials at a Glance
**Q1 2025:**
* Revenue: \~$6.7M
* Net income: +$2.9M (vs. -$3.2M YoY)
* Cash: \~$14.1M (after recent $15M debt + $2.7M equity raise)
**FY 2024:**
* Revenue: \~$30M (+63.5% YoY)
* Net Loss: -$15.3M
* Gross Margin: \~44%
* Year-end cash: \~$5.2M
# ⚖️ Ownership Snapshot
* Insider ownership: \~39%
* Institutional ownership: \~16%
* New COO in 2025 with 25+ years of medtech ops experience
* Recent board additions strengthen regulatory and clinical expertise
# 📊 SWOT Breakdown
**Strengths:**
* Validated AI imaging system with 95%+ accuracy
* Strong government backing (BARDA)
* NHS adoption already in motion
* First-mover advantage in wound diagnostics AI
**Weaknesses:**
* Still awaiting FDA clearance
* Thinly traded microcap with low liquidity
* History of dilution and negative equity
* No recurring commercial revenue yet
**Opportunities:**
* U.S. wound diagnostics market is a multibillion-dollar frontier
* DeepView could expand into more wound types including Diabetic foot ulcers, and Amputation surgery evaluation and imaging.
* SaaS-style licensing and recurring revenue potential
* Attractive M&A target for larger medtechs
**Threats:**
* FDA delays or rejections
* Post-approval adoption risk
* Reimbursement/insurance challenges
* New AI competitors entering the space
# 🧮 Valuation Summary
**DCF Model (Base Case):**
* FY2025 Revenue: \~$36M
* FY2026: \~$54M → FY2028: \~$110M
* Gross margin: \~50–55%
* Operating margin: \~20% (by 2028)
* Discount rate: 14%, Terminal growth: 3%
* **Implied equity value: \~$129M → \~$5.26/share**
**Public Comps (EV/Sales 2025E):**
* Nano-X: \~7x
* Hyperfine: \~4.5x
* MDAI: \~2.2x
**Current Fair value range:** \~$4.40 – $8.80/share
# Catalysts to Watch
* FDA De Novo clearance (mid-2026 target)
* First U.S. hospital adoption
* DFU expansion trial results
* New BARDA or NHS contracts
* Strategic partnerships or M&A speculation
# 🎯 Final Take
Spectral AI is a **high-risk, high-reward** AI diagnostics bet.
It has:
* Real tech, not vaporware
* Proven accuracy
* Global traction
* Government contracts
* I think it has massive upside potential of anywhere from (7x–50x+) if the FDA clears the runway. Just speculation on my part .Not financial advice. Do your own research.

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MDAI
Spectral AI, Inc. Class A Common Stock
stock NASDAQ