The investor conference is in partnership with MicroCapClub on Wednesday, April 23, 2025 & 1x1 Meetings on Thursday, April 24, 2025TAMPA, Fla., April 15, 2025 /PRNewswire/ -- Marpai, Inc. (OTCQX: MRAI),  a technology platform company, which operates as a national Third-Party Administrator (TPA) through its subsidiaries and offers affordable, intelligent, healthcare solutions to self-funded employer health plans, today announced that it will be presenting at the Planet MicroCap Showcase: VEGAS 2025 in partne ...

Marpai, Inc. (OTCQX:MRAI) Q4 2024 Earnings Conference Call March 27, 2025 8:30 AM ET Company Participants Steve Johnson - Chief Financial Officer Damien Lamendola - Chief Executive Officer and Director John Powers - President Conference Call Participants Ian Cassel - IFCM Operator Good morning, and welcome to the Marpai Fourth Quarter and Full-Year 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation there will be an opportunity to ...

Financial Performance - Total revenue for the year ended December 31, 2024, was $28.2 million, a decrease of 24% from $37.2 million in 2023[151] - Net loss for 2024 was $22.1 million, a 23% improvement from a net loss of $28.8 million in 2023[168] - Adjusted EBITDA loss improved to $9.1 million in 2024 from a loss of $20.2 million in 2023, due to better resource utilization and expense reduction[171] Expenses - Cost of revenue for 2024 was $19.1 million, down 21% from $24.2 million in 2023, aligning with the decrease in revenue[153] - General and administrative expenses decreased by 33% to $12.8 million in 2024 from $19.2 million in 2023, resulting in savings of approximately $6.4 million[155] - Sales and marketing expenses dropped 73% to $1.8 million in 2024 from $6.6 million in 2023, reflecting a savings of about $4.8 million[156] - Research and development expenses fell by 98% to $29 thousand in 2024 from $1.3 million in 2023, due to a focus on eliminating certain development projects[158] Cash Flow and Financing - The company recognized a net cash used in operating activities of $15.2 million for the year ended December 31, 2024, compared to $15.7 million for 2023, reflecting a decrease of $591 thousand[191] - Net cash provided by financing activities increased to $10.7 million in 2024 from $5.1 million in 2023, primarily due to proceeds from private placements and the issuance of debentures[193] - The company financed its operations primarily through the sale of convertible notes, warrants, and common stock, as well as borrowing from various lenders[177] Impairments and Charges - The company recorded a goodwill and intangible asset impairment charge of $7.6 million in June 2024, reflecting a full impairment due to operational changes[160] - The company reported a net loss of $22.1 million for the year ended December 31, 2024, which was offset by non-cash items totaling $13.6 million and a decrease in net working capital items amounting to $6.7 million[191] Capital Transactions - The company entered into a securities purchase agreement on January 16, 2024, selling 1,322,100 shares at a price of $0.9201 per share, raising capital from insiders[183] - The company executed a debt reduction agreement on January 31, 2025, reducing the Base Purchase and Full Base Amount by $3 million, contingent on meeting specific criteria by December 31, 2024[179] - The company repaid $1.8 million to Libertas Funding, LLC in April 2024 to satisfy the Libertas Agreement, which involved selling future receipts totaling $2.2 million for a purchase price of $1.7 million[184] - The company issued Senior Secured Convertible Debentures for a principal sum of $11.83 million on April 15, 2024, with an option to redeem $5 million at its election[186] - The company recognized a gain of $3.0 million in its consolidated statements of operations as of December 31, 2024, following the fulfillment of reduction criteria under the AXA Amendment[179] Going Concern and Liquidity - The company has substantial doubt about its ability to continue as a going concern for the next twelve months due to liquidity concerns[182] Share-Based Compensation - The company accounts for share-based compensation in accordance with ASC Topic 718, recognizing expenses over the requisite service period, generally the vesting period of the grant[205] - The expected term of stock options granted to employees is estimated using the simplified method, averaging the vesting term and the original contractual term[207] - The fair value of share-based payment awards is calculated using the Black-Scholes option-pricing model, influenced by stock price, expected volatility, expected life, risk-free interest rate, and expected dividends[207] - The company evaluates convertible notes and debentures to determine if any embedded features require separate accounting as derivative financial instruments[209] - Changes in assumptions for share-based compensation may significantly impact future results of operations, with incremental costs recognized when incurred[208] - The company includes variable consideration in transaction prices only if it is probable that amounts will not be subject to significant reversals[204] - Share-based awards that vest based on performance conditions recognize expense when it is probable that the conditions will be met[208] - The company accounts for forfeitures of awards as they occur, impacting the share-based compensation expense[208] Accounting and Market Risk - Recent accounting pronouncements are discussed in Note 3 of the consolidated financial statements in the Annual Report[210] - There are no applicable quantitative and qualitative disclosures about market risk[211]

Financial Performance - Q4 2024 net revenues were $6.6 million, a decrease of $0.4 million, or 6.0% lower than Q3 2024[5] - Full year 2024 net revenues were $28.2 million, down $9.0 million, or 24.2% lower year over year[5] - Adjusted EBITDA for the year ended December 31, 2024 amounted to a loss of $9.1 million, an improvement from a loss of $20.2 million in 2023[4] - Net loss for the fiscal year was $22.1 million, an improvement of $6.7 million, or 23.2% lower year over year[5] - Basic and diluted earnings per share in Q4 2024 were ($0.08), an improvement of $0.22 per share compared to Q3 2024[5] - Net loss for the year ended December 31, 2024, was $22,088,000, an improvement from a net loss of $28,752,000 in 2023, representing a 23.3% reduction[22] - Adjusted EBITDA for the year ended December 31, 2024, was $(9,057,000), compared to $(20,181,000) in 2023, indicating a significant improvement of 55.1%[25] Operating Expenses and Cash Flow - Operating expenses for the fiscal year ended December 31, 2024 were $31.2 million, an improvement of $9.7 million, or 23.7% lower year over year[5] - Cash flows from operating activities resulted in a net cash used of $15,158,000 for 2024, slightly better than $15,749,000 in 2023[22] - Total cash, cash equivalents, and restricted cash at the end of the period decreased to $9,232,000 from $13,492,000 at the beginning of the period, reflecting a decrease of 31.7%[22] - Cash paid for interest in 2024 was $1,742,000, compared to no interest paid in 2023[23] Assets and Liabilities - Marpai's total current assets decreased to $11.9 million as of December 31, 2024, down from $17.1 million in 2023[18] - Total liabilities decreased to $40.6 million as of December 31, 2024, down from $45.1 million in 2023[18] Impairment and Depreciation - Impairment of goodwill and intangible assets increased to $7,588,000 in 2024 from $3,018,000 in 2023, indicating a rise of 151.5%[25] - Depreciation and amortization expenses decreased to $2,256,000 in 2024 from $3,897,000 in 2023, a reduction of 42.0%[25] Financing Activities - Proceeds from the issuance of convertible debentures amounted to $8,000,000 in 2024, with additional net cash provided by financing activities totaling $10,671,000[22] - The company reported a loss on debt extinguishment of $1,877,000 in 2024, with no such loss reported in 2023[25] Business Strategy - The company plans to introduce high-impact PBM-based products in the second half of 2025 to drive revenue growth[7] - The company is focused on streamlining costs while deploying innovative services, including the Empara Member Engagement Portal[7] Business Unit Sale - The company generated $227,000 from the sale of a business unit in 2024, down from $1,000,000 in 2023[22]

TAMPA, Fla., March 18, 2025 /PRNewswire/ -- Marpai, Inc. ("Marpai" or the "Company") (OTCQX: MRAI), a technology platform company and a disruptor in the $22 billion Third-Party Administrator ("TPA") market, is taking decisive action to revolutionize self-funded employer health plans. Today, Marpai announces a strategic collaboration with Empara, a healthcare technology innovator, and an immediate rollout of Empara's cutting-edge Health Engagement Platform.This dynamic move consolidates and replaces multiple ...

STUART, Fla., Jan. 22, 2025 /PRNewswire/ -- Health In Tech, an Insurtech platform company backed by third-party AI technology, is thrilled to announce a new strategic collaboration with Vitable and MARPAI. This collaboration aims to introduce a  competitively priced self-funded health plan to the market. By utilizing the strength of Vitable's Direct Primary Care (DPC), a health plan, and stop-loss coverage, Health In Tech seeks to offer low quotes on their eDIYBS platform, and to set an ambitious standard i ...

TAMPA, Fla., Jan. 6, 2025 /PRNewswire/ -- Marpai, Inc. ("Marpai" or the "Company") (OTCQX: MRAI), a technology platform company, which operates as a national Third-Party Administrator (TPA) through its subsidiaries and is transforming the $22 billion TPA market by offering affordable, intelligent, healthcare solutions to self-funded employer health plans, today announced the funding of an additional $5,000,000 from JGB Collateral LLC, a Delaware limited liability company ("JGB").The company intends to use t ...

TAMPA, Fla., Dec. 5, 2024 /PRNewswire/ -- Marpai, Inc. ("Marpai" or the "Company") (OTCQX: MRAI), a technology platform company, which operates as a national Third-Party Administrator (TPA) through its subsidiaries and is transforming the $22 billion TPA market by offering affordable, intelligent, healthcare solutions to self-funded employer health plans, today announced the pricing of a private placement offering consisting of the issuance and sale of 621,194 shares of its Class A common stock (the "Common ...

Core Insights - Marpai, Inc. is transforming the $22 billion Third-Party Administrator (TPA) market by providing affordable and intelligent healthcare solutions for self-funded employer health plans [1][4] - The company has secured several significant new accounts for 2025, including clients from the restaurant, hospital, and housing industries, which collectively represent thousands of employee lives [2][3] - Marpai is on track for expected break-even performance in early 2025 due to new sales and ongoing cost efficiencies [3] Company Overview - Marpai operates as a national TPA through its subsidiaries, focusing on value-oriented health plan services for employers that directly pay for employee health benefits [4] - The company competes in a sector that serves self-funded employer health plans, which account for over $1 trillion in annual claims [4] - Marpai's initiatives, such as Marpai Saves, aim to deliver healthier member populations while managing health plan budgets [4] Sales and Growth Strategy - The addition of a new sales team in early 2024 has enabled Marpai to target new business and renewals effectively, traditionally focused on January 1st [2] - The company has reported successful client acquisitions, including a 4,000-employee restaurant group and a 6,000-employee hospital group, set to transition in 2025 [2][3] - Marpai's CEO highlighted the sales team's success in leveraging the Marpai Saves initiative to provide immediate value to targeted industries [3]

Marpai, Inc (OTCQX:MRAI) Q3 2024 Results Conference Call November 12, 2024 8:30 AM ET Company Participants Steve Johnson - Chief Financial Officer Damien Lamendola - Chief Executive Officer and Director John Powers - President Operator Good morning, and welcome to the Marpai Third Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Mr. Steve Johnson, Chief Financial Officer. Please go ahead. Steve Johnson Go ...