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Side-by-side financial comparison of Spectral AI, Inc. (MDAI) and PureCycle Technologies, Inc. (PCT). Click either name above to swap in a different company.
Spectral AI, Inc. is the larger business by last-quarter revenue ($4.1M vs $2.7M, roughly 1.5× PureCycle Technologies, Inc.). Spectral AI, Inc. runs the higher net margin — 25.7% vs -697.1%, a 722.9% gap on every dollar of revenue.
Spectral AI, Inc. is a medical technology firm specializing in AI-powered diagnostic imaging solutions primarily for burn and wound care. It develops non-invasive imaging tools that enable healthcare providers to deliver faster, more accurate treatment assessments, serving clinical and healthcare partner networks across North America and European markets.
PureCycle Technologies, Inc. is a sustainable materials firm with proprietary advanced polypropylene recycling technology. It converts contaminated polypropylene waste into high-purity virgin-equivalent resin for use in consumer goods, automotive parts, packaging and industrial products, serving global partners.
MDAI vs PCT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1M | $2.7M |
| Net Profit | $1.1M | $-18.8M |
| Gross Margin | 45.2% | — |
| Operating Margin | -54.9% | -2196.1% |
| Net Margin | 25.7% | -697.1% |
| Revenue YoY | -46.3% | — |
| Net Profit YoY | 113.9% | 71.0% |
| EPS (diluted) | $0.04 | $-0.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.1M | $2.7M | ||
| Q3 25 | $3.8M | $2.4M | ||
| Q2 25 | $5.1M | $1.6M | ||
| Q1 25 | $6.7M | $1.6M | ||
| Q4 24 | $7.6M | $0 | ||
| Q3 24 | $8.2M | $0 | ||
| Q2 24 | $7.5M | $0 | ||
| Q1 24 | $6.3M | $0 |
| Q4 25 | $1.1M | $-18.8M | ||
| Q3 25 | $-3.6M | $-28.4M | ||
| Q2 25 | $-8.0M | $-144.2M | ||
| Q1 25 | $2.9M | $8.8M | ||
| Q4 24 | $-7.6M | $-64.7M | ||
| Q3 24 | $-1.5M | $-90.6M | ||
| Q2 24 | $-2.9M | $-48.2M | ||
| Q1 24 | $-3.2M | $-85.6M |
| Q4 25 | 45.2% | — | ||
| Q3 25 | 42.7% | — | ||
| Q2 25 | 45.2% | — | ||
| Q1 25 | 47.2% | — | ||
| Q4 24 | 44.0% | — | ||
| Q3 24 | 44.9% | — | ||
| Q2 24 | 44.3% | — | ||
| Q1 24 | 46.6% | — |
| Q4 25 | -54.9% | -2196.1% | ||
| Q3 25 | -88.1% | -1602.2% | ||
| Q2 25 | -41.9% | -2763.5% | ||
| Q1 25 | -13.4% | -2387.4% | ||
| Q4 24 | -14.6% | — | ||
| Q3 24 | -10.8% | — | ||
| Q2 24 | -32.7% | — | ||
| Q1 24 | -33.9% | — |
| Q4 25 | 25.7% | -697.1% | ||
| Q3 25 | -93.7% | -1167.5% | ||
| Q2 25 | -157.3% | -8741.8% | ||
| Q1 25 | 43.2% | 559.0% | ||
| Q4 24 | -99.8% | — | ||
| Q3 24 | -18.4% | — | ||
| Q2 24 | -38.3% | — | ||
| Q1 24 | -50.7% | — |
| Q4 25 | $0.04 | $-0.14 | ||
| Q3 25 | $-0.13 | $-0.31 | ||
| Q2 25 | $-0.31 | $-0.81 | ||
| Q1 25 | $0.11 | $0.05 | ||
| Q4 24 | $-0.42 | $-0.40 | ||
| Q3 24 | $-0.08 | $-0.54 | ||
| Q2 24 | $-0.16 | $-0.29 | ||
| Q1 24 | $-0.19 | $-0.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $15.4M | $156.7M |
| Total DebtLower is stronger | $9.3M | — |
| Stockholders' EquityBook value | $-5.7M | $45.9M |
| Total Assets | $21.4M | $922.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.4M | $156.7M | ||
| Q3 25 | $10.5M | $234.4M | ||
| Q2 25 | $10.5M | $284.1M | ||
| Q1 25 | $14.1M | $22.5M | ||
| Q4 24 | $5.2M | $15.7M | ||
| Q3 24 | $3.7M | $83.7M | ||
| Q2 24 | $6.9M | $10.9M | ||
| Q1 24 | $10.2M | $25.0M |
| Q4 25 | $9.3M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $7.8M | — | ||
| Q4 24 | $2.8M | — | ||
| Q3 24 | $1.0M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-5.7M | $45.9M | ||
| Q3 25 | $-8.2M | $68.2M | ||
| Q2 25 | $-9.2M | $98.9M | ||
| Q1 25 | $-1.6M | $238.2M | ||
| Q4 24 | $-7.3M | $180.4M | ||
| Q3 24 | $-4.8M | $241.4M | ||
| Q2 24 | $-4.7M | $291.6M | ||
| Q1 24 | $-2.5M | $336.8M |
| Q4 25 | $21.4M | $922.7M | ||
| Q3 25 | $15.3M | $989.1M | ||
| Q2 25 | $16.0M | $1.0B | ||
| Q1 25 | $20.7M | $787.3M | ||
| Q4 24 | $12.1M | $798.4M | ||
| Q3 24 | $11.6M | $788.8M | ||
| Q2 24 | $13.9M | $719.8M | ||
| Q1 24 | $15.5M | $734.0M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.6M | $-28.7M |
| Free Cash FlowOCF − Capex | — | $-42.0M |
| FCF MarginFCF / Revenue | — | -1559.6% |
| Capex IntensityCapex / Revenue | — | 495.1% |
| Cash ConversionOCF / Net Profit | -2.43× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-183.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.6M | $-28.7M | ||
| Q3 25 | $-2.5M | $-38.5M | ||
| Q2 25 | $-3.4M | $-36.7M | ||
| Q1 25 | $-1.5M | $-38.9M | ||
| Q4 24 | $469.0K | $-31.8M | ||
| Q3 24 | $-1.6M | $-33.4M | ||
| Q2 24 | $-5.4M | $-40.4M | ||
| Q1 24 | $-2.7M | $-39.2M |
| Q4 25 | — | $-42.0M | ||
| Q3 25 | — | $-42.4M | ||
| Q2 25 | — | $-45.3M | ||
| Q1 25 | — | $-53.9M | ||
| Q4 24 | — | $-53.4M | ||
| Q3 24 | — | $-42.6M | ||
| Q2 24 | — | $-50.8M | ||
| Q1 24 | — | $-53.5M |
| Q4 25 | — | -1559.6% | ||
| Q3 25 | — | -1743.1% | ||
| Q2 25 | — | -2747.1% | ||
| Q1 25 | — | -3409.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 495.1% | ||
| Q3 25 | — | 160.3% | ||
| Q2 25 | — | 521.5% | ||
| Q1 25 | — | 949.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -2.43× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.52× | -4.40× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
