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Side-by-side financial comparison of Spectral AI, Inc. (MDAI) and QMMM Holdings Ltd (QMMM). Click either name above to swap in a different company.
Spectral AI, Inc. is the larger business by last-quarter revenue ($4.1M vs $2.0M, roughly 2.0× QMMM Holdings Ltd). Spectral AI, Inc. runs the higher net margin — 25.7% vs -7.1%, a 32.9% 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.
MDAI vs QMMM — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1M | $2.0M |
| Net Profit | $1.1M | $-146.1K |
| Gross Margin | 45.2% | 27.1% |
| Operating Margin | -54.9% | -6.5% |
| Net Margin | 25.7% | -7.1% |
| Revenue YoY | -46.3% | — |
| Net Profit YoY | 113.9% | — |
| EPS (diluted) | $0.04 | — |
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 | — | ||
| Q3 25 | $3.8M | — | ||
| Q2 25 | $5.1M | — | ||
| Q1 25 | $6.7M | $2.0M | ||
| Q4 24 | $7.6M | — | ||
| Q3 24 | $8.2M | — | ||
| Q2 24 | $7.5M | — | ||
| Q1 24 | $6.3M | $1.3M |
| Q4 25 | $1.1M | — | ||
| Q3 25 | $-3.6M | — | ||
| Q2 25 | $-8.0M | — | ||
| Q1 25 | $2.9M | $-146.1K | ||
| Q4 24 | $-7.6M | — | ||
| Q3 24 | $-1.5M | — | ||
| Q2 24 | $-2.9M | — | ||
| Q1 24 | $-3.2M | $-612.0K |
| Q4 25 | 45.2% | — | ||
| Q3 25 | 42.7% | — | ||
| Q2 25 | 45.2% | — | ||
| Q1 25 | 47.2% | 27.1% | ||
| Q4 24 | 44.0% | — | ||
| Q3 24 | 44.9% | — | ||
| Q2 24 | 44.3% | — | ||
| Q1 24 | 46.6% | 24.1% |
| Q4 25 | -54.9% | — | ||
| Q3 25 | -88.1% | — | ||
| Q2 25 | -41.9% | — | ||
| Q1 25 | -13.4% | -6.5% | ||
| Q4 24 | -14.6% | — | ||
| Q3 24 | -10.8% | — | ||
| Q2 24 | -32.7% | — | ||
| Q1 24 | -33.9% | -46.2% |
| Q4 25 | 25.7% | — | ||
| Q3 25 | -93.7% | — | ||
| Q2 25 | -157.3% | — | ||
| Q1 25 | 43.2% | -7.1% | ||
| Q4 24 | -99.8% | — | ||
| Q3 24 | -18.4% | — | ||
| Q2 24 | -38.3% | — | ||
| Q1 24 | -50.7% | -45.5% |
| Q4 25 | $0.04 | — | ||
| Q3 25 | $-0.13 | — | ||
| Q2 25 | $-0.31 | — | ||
| Q1 25 | $0.11 | — | ||
| Q4 24 | $-0.42 | — | ||
| Q3 24 | $-0.08 | — | ||
| Q2 24 | $-0.16 | — | ||
| Q1 24 | $-0.19 | — |
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 | $167.9K |
| Total DebtLower is stronger | $9.3M | — |
| Stockholders' EquityBook value | $-5.7M | $3.9M |
| Total Assets | $21.4M | $4.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.4M | — | ||
| Q3 25 | $10.5M | — | ||
| Q2 25 | $10.5M | — | ||
| Q1 25 | $14.1M | $167.9K | ||
| Q4 24 | $5.2M | — | ||
| Q3 24 | $3.7M | — | ||
| Q2 24 | $6.9M | — | ||
| Q1 24 | $10.2M | $218.9K |
| 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 | — | ||
| Q3 25 | $-8.2M | — | ||
| Q2 25 | $-9.2M | — | ||
| Q1 25 | $-1.6M | $3.9M | ||
| Q4 24 | $-7.3M | — | ||
| Q3 24 | $-4.8M | — | ||
| Q2 24 | $-4.7M | — | ||
| Q1 24 | $-2.5M | $-1.1M |
| Q4 25 | $21.4M | — | ||
| Q3 25 | $15.3M | — | ||
| Q2 25 | $16.0M | — | ||
| Q1 25 | $20.7M | $4.5M | ||
| Q4 24 | $12.1M | — | ||
| Q3 24 | $11.6M | — | ||
| Q2 24 | $13.9M | — | ||
| Q1 24 | $15.5M | $1.3M |
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 | $-301.2K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -2.43× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.6M | — | ||
| Q3 25 | $-2.5M | — | ||
| Q2 25 | $-3.4M | — | ||
| Q1 25 | $-1.5M | $-301.2K | ||
| Q4 24 | $469.0K | — | ||
| Q3 24 | $-1.6M | — | ||
| Q2 24 | $-5.4M | — | ||
| Q1 24 | $-2.7M | $-184.6K |
| Q4 25 | -2.43× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.52× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
