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Continued Turnaround Driven by Cost Discipline and Operational Efficiency; Positioned for Strong 2026 Growth
TAMPA, Fla., Nov. 12, 2025 — Marpai, Inc. (“Marpai” or the “Company”) (OTCQX: MRAI), a technology-driven leader in healthcare Third-Party Administration (TPA) services, today announced its Q3 2025 results, signaling a continued positive trajectory fueled by strategic cost management and enhanced operational effectiveness. This marks a pivotal step in Marpai’s transformation, positioning the company for robust growth as it heads into 2026.
The third quarter, ending September 30, 2025, witnessed Marpai making significant strides in key areas, including cost optimization, margin improvement, and client acquisition. These advancements underscore the fundamental strengthening of the company’s business and its improving market competitiveness.
Key Financial Highlights
- Operating Expenses Down 24% – A significant reduction in operating expenses from $5.0 million to $3.8 million year-over-year, translating to approximately $1.2 million in savings. This reflects the successful implementation of efficiency-boosting initiatives and streamlined processes.
- Operating Loss Narrowed 9% – A $0.3 million improvement, decreasing the operating loss from $3.1 million to $2.8 million compared to the same period last year. This consistent quarter-over-quarter progress demonstrates a clear pathway toward profitability.
- Net Loss Improved 2% – The net loss saw a $0.1 million improvement, moving from $3.6 million in Q3 2024 to $3.5 million in Q3 2025, indicating disciplined strategic investments in key areas.
- Earnings Per Share Strengthened by $0.10, reflecting improved shareholder value metrics through operational efficiencies and controlled spending.
“We believe these results provide a tangible demonstration of strategy execution, laying the foundation for a more resilient and capital-efficient Marpai,” stated Damien Lamendola, Chief Executive Officer. “The 24% reduction in operating expenses and 9% improvement in operating loss aren’t isolated incidents. Instead, they’re evidence of a structural shift we have engineered within the company, ensuring scalability and a path to sustained profitability. We’ve built operational efficiency into our DNA.”
Strong Growth Outlook
Marpai’s sales pipeline remains strong, with double-digit new client contracts signed for a January 1 effective date, substantially increasing the company’s base business. The company’s integrated MarpaiRx PBM (Pharmacy Benefit Manager) offering is gaining traction as a key competitive differentiator, simultaneously broadening Marpai’s total addressable market while growing value per client.
Analysts note that MarpaiRx’s integrated approach highlights a growing trend in the market: employers are seeking comprehensive solutions that streamline healthcare administration and optimize pharmacy benefits, which are often a significant cost driver. The ability to bundle TPA and PBM services positions Marpai favorably against competitors who may offer these services in a more fragmented way.
Mr. Lamendola continued, “We’ve established an operating model purpose-built to maximize earnings leverage from future revenue growth. Our robust 2026 deal pipeline, added to a committed customer base, gives us the high confidence that we will achieve profitability during the first quarter of 2026.”
Strategic Positioning and Capital
The company’s initiatives centered around automation, AI-driven claims management, and an integrated pharmacy benefits strategy, strategically position Marpai to leverage the increasing industry preference for cost transparency and innovative benefits administration. Through unrelenting operational execution and consistent investment discipline, Marpai is transitioning into a profitability story—one bolstered by scalable economic strategies and expanding shareholder value.
Experts emphasize that Marpai’s focus on data-driven claims management is crucial. By leveraging data analytics and AI, the company can enhance claims processing accuracy, identify fraudulent or wasteful claims, and provide more targeted support to members, ultimately driving down healthcare costs for employers and improving health outcomes for employees.
Marpai completed a Private Investment in Public Equity (“PIPE”) securing gross funds of $3.9 million. This is considered a crucial accomplishment, giving the company funds to rigorously execute its turnaround strategy. The transaction included long-term shareholders, a signal of strong confidence in its business model and potential for sustained growth in the self-funded healthcare administration space.
Webcast and Conference Call Information
Marpai expected to host a conference call and webcast on Thursday, November 13, 2025, at 8:30 a.m. ET to review the Company’s operational and financial highlights for its third quarter ended September 30, 2025.
About Marpai, Inc.
Marpai, Inc. (OTCQX: MRAI) is a technology platform company which operates subsidiaries that provide TPA, PBM and value-oriented health plan services to employers that directly pay for employee health benefits. Primarily competing in the $150 billion TPA sector serving self-funded employer health plans representing over $1.5 trillion in annual claims. Through its Marpai Saves initiative, the Company works to deliver the healthiest member population for the health plan budget. Operating nationwide, Marpai offers access to leading provider networks including Cigna and all TPA services. For more information, visit www.marpaihealth.com, the content of which is not incorporated by reference into this press release. Investors are invited to visit https://ir.marpaihealth.com.
Forward-Looking Statement Disclaimer
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance,” “may,” “can,” “could”, “will”, “potential”, “should,” “goal” and variations of these words or similar expressions. For example, the Company is using forward-looking statements when it discusses that its operational and financial improvement underscore the success of its transformation strategy and its emergence as a disciplined, scalable growth platform heading into 2026, that its continued turnaround trajectory, achieving meaningful advances in cost control, margin recovery, and client expansion are indicators of its strengthening fundamentals, the belief that the quarterly results demonstrate measurable execution on its strategy to build a more resilient, capital-efficient company, the belief that its improved reduction in operating expenses and operating loss are not one-time achievements and position it for scalable, profitable growth, its belief that it is closer than ever to sustained profitability, that its built a durable operating model designed to convert every point of future revenue growth directly into earnings leverage, and the belief that with a strong 2026 pipeline and a committed client base it remains on track to achieve profitability in the first quarter of 2026. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Marpai’s current expectations and speak only as of the date of this release. Actual results may differ materially from Marpai’s current expectations depending upon a number of factors. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business. Except as required by law, Marpai does not undertake any responsibility to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.
More detailed information about Marpai and the risk factors that may affect the realization of forward-looking statements is set forth in Marpai’s filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov.
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(in thousands, except share and per share data) |
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Cash and cash equivalents |
$ 445 |
$ 764 |
||
|
Restricted cash |
10,070 |
8,468 |
||
|
Accounts receivable, net of allowance for credit losses of $1 and $1 as of September 30, 2025 and Dec 31, 2024 |
377 |
837 |
||
|
Unbilled receivables |
793 |
569 |
||
|
Due from buyer for sale of business unit |
— |
500 |
||
|
Prepaid expenses and other current assets |
397 |
759 |
||
|
|
12,082 |
11,897 |
||
|
Capitalized software, net |
120 |
441 |
||
|
Operating lease right-of-use assets |
251 |
296 |
||
|
Security deposits |
229 |
229 |
||
|
Other long-term asset |
71 |
15 |
||
|
|
$ 12,753 |
$ 12,878 |
||
|
|
||||
|
|
||||
|
Accounts payable |
$ 4,411 |
$ 3,109 |
||
|
Accrued expenses |
1,982 |
2,585 |
||
|
Accrued fiduciary obligations |
9,327 |
6,308 |
||
|
Deferred revenue |
649 |
625 |
||
|
Current portion of operating lease liabilities |
256 |
244 |
||
|
Current portion of convertible debentures, net Original article, Author: Jam. If you wish to reprint this article, please indicate the source:https://aicnbc.com/12737.html Like (0)
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