Revenue Performance - Total revenue for the three months ended September 30, 2024, was $7.0 million, a decrease of 19.7% from $8.7 million in the same period of 2023[110] - For the nine months ended September 30, 2024, total revenue was $21.6 million, down 24.1% from $28.4 million in 2023[111] Cost and Expenses - Cost of revenue for the three months ended September 30, 2024, was $5.0 million, a decrease of 11.6% from $5.7 million in 2023[113] - General and administrative expenses for the three months ended September 30, 2024, were $2.8 million, down 43.6% from $5.0 million in 2023[115] - General and administrative expenses decreased to $10.0 million for the nine months ended September 30, 2024, down from $15.9 million for the same period in 2023, a reduction of approximately 37.7%[116] - Sales and marketing expenses for the nine months ended September 30, 2024, were $1.4 million, a decrease of 74.5% from $5.5 million in the same period in 2023[118] - Information technology expenses decreased to $3.6 million for the nine months ended September 30, 2024, compared to $4.8 million for the same period in 2023, a reduction of 25%[120] - Research and development expenses fell to $22 thousand for the nine months ended September 30, 2024, down from $1.3 million in the same period in 2023, a decrease of approximately 98.3%[122] - The company reported a significant decrease in research and development expenses, down 97.4% to $7,000 for the three months ended September 30, 2024[108] - Depreciation and amortization expenses decreased to $2.1 million for the nine months ended September 30, 2024, from $3.0 million in the same period in 2023, a reduction of approximately 30%[124] Operating Performance - Operating loss for the three months ended September 30, 2024, was $(3.1) million, a 56.5% improvement from $(7.0) million in 2023[108] - Net loss for the three months ended September 30, 2024, was $(3.6) million, a 51.2% improvement from $(7.3) million in 2023[108] Strategic Initiatives - The company is exploring strategic alternatives to maximize shareholder value, including potential mergers or sales[105] - The company plans to adapt its approach to better serve customer needs amid evolving market conditions[110] Financial Position - As of September 30, 2024, the company had an accumulated deficit of approximately $97.7 million and unrestricted cash and cash equivalents of approximately $830 thousand[128] - Net cash used in operating activities totaled $10.3 million for the nine months ended September 30, 2024, a decrease of $5.0 million compared to $15.3 million for the same period in 2023[138] - The company raised $8.6 million from financing activities during the nine months ended September 30, 2024, an increase of approximately 32.6% compared to $6.4 million in the same period in 2023[139] Impairment and Interest - The company recorded a goodwill and intangible asset impairment charge of $7.6 million in June 2024 due to continued operating losses and negative cash flows[125] - Interest expense increased to $1.9 million for the nine months ended September 30, 2024, compared to $1.1 million for the same period in 2023, an increase of approximately 71.8%[127] Stock Listing - The company transitioned its common stock listing from Nasdaq to OTCQX effective May 29, 2024[103]

Powers will share his expertise at the following events: 1. HCAA TPA University (July 15-17, St. Louis) Premier event for third-party administrators and self-funded industry professionals Focus: Winning in the Transparent Marketplace: The Ethical Administrator https://www.hcaa.org 2. SIIA National Conference (October 8-10, Phoenix, AZ) Showcasing cutting-edge strategies and technologies in employee benefits and healthcare. Focus: Healthcare is Fixed. Join us to replicate the fixes. https://rosettafest.org A ...

NEW YORK, May 29, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX:OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Marpai, Inc. (OTCQX:MRAI), an independent national Third-Party Administration (TPA) company, has qualified to trade on the OTCQX® Best Market. Marpai, Inc. previously traded on NASDAQ. Marpai, Inc. begins trading today on OTCQX under the symbol "MRAI." U.S. investors can find current financial disclosure and Real-Time Level 2 quot ...

Marpai (NASDAQ:MRAI) stock is taking a beating on Tuesday as investors prepare for the company's shares to be delisted tomorrow. Marpai alerted investors that it is withdrawing from a hearing with the Nasdaq Exchage's officials. This will result in shares of MRAI stock being delisted from the Nasdaq Capital Market at the start of trading on Wednesday. This has the company planning to transfer its shares to the OTCQX Market after the delisting. Marpai notes that it will continue to be required to file period ...

Move reduces cost and burdens of Nasdaq listing The Company intends to have its Shares quoted on OTCQX Market and expects that the Shares will be traded on OTCQX under its current trading symbol "MRAI" concurrent with the Nasdaq trading suspension. The Company expects that transferring its Shares to OTCQX will ensure that a trading market may continue to exist for such securities. There is no guarantee, however, that a broker will continue to make a market in the Shares or that trading thereof will continue ...

NEW YORK, May 21, 2024 /PRNewswire/ -- Purcell & Lefkowitz LLP announces that it is investigating Marpai, Inc. (NASDAQ: MRAI) on behalf of the company's shareholders. The investigation seeks to determine whether Marpai's directors breached their fiduciary duties in connection with recent corporate actions. If you are a shareholder of Marpai, Inc. and are interested in obtaining additional information about your rights and options, please visit us at: https://pjlfirm.com/marpai-inc/ You may also contact Robe ...

Marpai, Inc. [MRAI] Q1 2024 Earnings Conference Call May 10, 2024 8:00 AM ET Company Participants Damien Lamendola - Director & CEO John Powers - President Steve Johnson - CFO Conference Call Participants Operator Good morning, and welcome to the Marpai first quarter 2024 earnings conference call. [Operator instructions]. Please note, this event is being recorded. I would now like to turn the conference over to Steve Johnson, Chief Financial Officer. Please go ahead. Steve Johnson Thank you, and good mornin ...

[Item 2.02 Results of Operations and Financial Condition](index=3&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) Marpai, Inc. filed a Form 8-K on May 9, 2024, announcing Q1 2024 financial results detailed in an attached press release - The company issued a press release on May 9, 2024, providing selected financial information for the three months ended March 31, 2024[7](index=7&type=chunk) - The press release is attached as Exhibit 99.1 and is incorporated by reference into this report[7](index=7&type=chunk) [Item 9.01 Financial Statements and Exhibits](index=3&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) This section lists exhibits filed with the Form 8-K, notably the press release (99.1) and Cover Page Interactive Data File (104) List of Exhibits | Exhibit Number | Description | | :--- | :--- | | 99.1 | Press release of Marpai, Inc. dated May 9, 2024 | | 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40904 MARPAI, INC. (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction of incorporation) 615 Channelside D ...

TAMPA, Fla., May 3, 2024 /PRNewswire/ -- Marpai, Inc. ("Marpai" or the "Company") (Nasdaq: MRAI), an independent national Third-Party Administration (TPA) company transforming the $22 billion TPA market supporting self-funded employer health plans with affordable, intelligent, healthcare, will host a conference call and webcast on Friday, May 10 at 8:30 a.m. ET to answer questions about the Company's operational and financial highlights for its first quarter 2024. The Company will report its first quarter r ...