share_log

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

SEC announcement ·  Mar 6 16:11
Summary by Moomoo AI
On March 6, 2024, Marpai, Inc., a leading national Third-Party Administration (TPA) company, released its preliminary unaudited financial results for the fourth quarter and the full year of 2023. The report highlighted a 14% increase in net revenues for the fourth quarter, amounting to approximately $8.7 million, and a 53% increase for the full year, reaching about $37.2 million. Operating expenses saw a significant reduction, with a 41% decrease in the fourth quarter and a drop to 107% of net revenues for the full year, down from 140% in the previous year. Despite these improvements, the company reported an operating loss of approximately $3.9 million for the fourth quarter and $26.7 million for the full year. Additionally, Marpai anticipates a non-cash goodwill impairment charge of $3.0 million for the fourth quarter...Show More
On March 6, 2024, Marpai, Inc., a leading national Third-Party Administration (TPA) company, released its preliminary unaudited financial results for the fourth quarter and the full year of 2023. The report highlighted a 14% increase in net revenues for the fourth quarter, amounting to approximately $8.7 million, and a 53% increase for the full year, reaching about $37.2 million. Operating expenses saw a significant reduction, with a 41% decrease in the fourth quarter and a drop to 107% of net revenues for the full year, down from 140% in the previous year. Despite these improvements, the company reported an operating loss of approximately $3.9 million for the fourth quarter and $26.7 million for the full year. Additionally, Marpai anticipates a non-cash goodwill impairment charge of $3.0 million for the fourth quarter. The company attributes its financial improvements to the execution of short-term actions and the synergies from the Maestro acquisition. Marpai's CEO, Damien Lamendola, expressed commitment to further operational and financial enhancements. The full financial results are expected to be reported on March 26, 2024, after market close, followed by a webcast to discuss the results on March 27, 2024. Marpai, which competes in the $22 billion TPA market, provides health plan services to employers with self-funded health plans and operates nationwide.

This announcement is a separate document:

Doc 1

Doc 2

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