On March 6, 2024, Marpai, Inc., a leading national Third-Party Administration (TPA) company, released selected preliminary unaudited financial results for the fourth quarter and full year of 2023. The announcement, made via a press release, highlighted a 14% increase in net revenues for Q4 2023 compared to Q4 2022, reaching approximately $8.7 million. Full-year net revenues saw a significant rise of 53%, amounting to roughly $37.2 million. Operating expenses for Q4 2023 were down by 41%, and the full-year operating expenses were reduced to 107% of net revenues from the previous year's 140%. The operating loss for Q4 2023 improved by $5.0 million, and the full-year operating loss was slightly down from the prior year. Additionally, Marpai anticipates a non-cash goodwill impairment charge of $3.0 million for Q4 2023. CEO Damien Lamendola attributed the improvements to...Show More

On March 6, 2024, Marpai, Inc., a leading national Third-Party Administration (TPA) company, released selected preliminary unaudited financial results for the fourth quarter and full year of 2023. The announcement, made via a press release, highlighted a 14% increase in net revenues for Q4 2023 compared to Q4 2022, reaching approximately $8.7 million. Full-year net revenues saw a significant rise of 53%, amounting to roughly $37.2 million. Operating expenses for Q4 2023 were down by 41%, and the full-year operating expenses were reduced to 107% of net revenues from the previous year's 140%. The operating loss for Q4 2023 improved by $5.0 million, and the full-year operating loss was slightly down from the prior year. Additionally, Marpai anticipates a non-cash goodwill impairment charge of $3.0 million for Q4 2023. CEO Damien Lamendola attributed the improvements to the execution of short-term actions and the synergies from the Maestro acquisition. The company plans to report its full Q4 and fiscal year 2023 results on March 26, 2024, and will hold a webcast to discuss the results on March 27, 2024. The press release also contained forward-looking statements regarding the company's commitment to operational and financial improvements.