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Marpai | 8-K: MARPAI reports FIRST QUARTER 2024 financial results

SEC announcement ·  May 10 05:08
Summary by Futu AI
Marpai, Inc., a Third-Party Administration company listed on Nasdaq under the symbol MRAI, has reported its financial results for the first quarter of 2024 on May 9, 2024. The company disclosed a net revenue of approximately $7.4 million, which is a 24% decrease compared to the same period in 2023. Despite the decline in revenue, Marpai has achieved significant reductions in operating expenses and net loss, which were down by 44% and 51% respectively. The operating loss and net loss showed improvements of 52% and 51% year over year. Basic and diluted earnings per share improved by $1.22 compared to the first quarter of the previous year. CEO Damien Lamendola expressed confidence in the company's new initiatives leading to long-term growth and profitability. Marpai has also added a new client and expanded its sales team. The company remains focused on operational efficiency and has implemented a cost-reduction program expected to save $3 million annually. A webcast to discuss these results is scheduled for May 10, 2024.
Marpai, Inc., a Third-Party Administration company listed on Nasdaq under the symbol MRAI, has reported its financial results for the first quarter of 2024 on May 9, 2024. The company disclosed a net revenue of approximately $7.4 million, which is a 24% decrease compared to the same period in 2023. Despite the decline in revenue, Marpai has achieved significant reductions in operating expenses and net loss, which were down by 44% and 51% respectively. The operating loss and net loss showed improvements of 52% and 51% year over year. Basic and diluted earnings per share improved by $1.22 compared to the first quarter of the previous year. CEO Damien Lamendola expressed confidence in the company's new initiatives leading to long-term growth and profitability. Marpai has also added a new client and expanded its sales team. The company remains focused on operational efficiency and has implemented a cost-reduction program expected to save $3 million annually. A webcast to discuss these results is scheduled for May 10, 2024.
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