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Marpai | 8-K: MARPAI ANNOUNCES PRELIMINARY UNAUDITED FINANCIAL RESULTS FOR FOURTH QUARTER AND FULL YEAR 2023

SEC announcement · Mar 6 06:08

MRAI +16.46%

Summary by Moomoo AI

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

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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.

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The moomoo app is an online trading platform offered by Moomoo Technologies Inc. Securities, brokerage products and related services available through the moomoo app are offered by including but not limited to the following brokerage firms: Moomoo Financial Inc. regulated by the U.S. Securities and Exchange Commission (SEC), Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS), Futu Securities International (Hong Kong) Limited regulated by the Securities and Futures Commission of Hong Kong (SFC), Moomoo Financial Canada Inc. regulated by the Canadian Investment Regulatory Organization (CIRO) and Futu Securities (Australia) Ltd regulated by the Australian Securities and Investments Commission (ASIC).

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