Financial guidance23 Oct 2023 13:49
MDAI have just delivered the following guidance
Financial Guidance
* Research & Development Revenue (“Revenue”) for FY2023 is expected to
approximate $17.4 million
* Revenue for FY2024 is expected to approximate $28.0 million
“We are on the cusp of delivering a distinct, cutting-edge AI-driven wound
healing assessment platform with the potential to significantly improve the
current standard of care across multiple indications,” said Wensheng Fan,
CEO of Spectral AI. “As we continue to advance our burn indication, we are
as excited about the prospects for the use of DeepView(®) for DFU, an
estimated $11.0 billion market that we believe is in dire need of a solution
that provides clinicians with an immediate healing assessment for more
accurate and timely diagnosis and therapeutic intervention. We intend to
submit applications for FDA, UKCA, and CE mark approval for the DeepView(®)
DFU indication, as well as for 3D wound measurement capabilities, in FY2024
subject to the completion of ongoing studies.”
The Company noted that the financial guidance for FY2024 does not reflect the
material financial contributions it expects would result from the
commercialization of DeepView(®) for DFU and 3D wound measurement following
the receipt of necessary regulatory clearances. As previously disclosed, the
Company has received regulatory approval for the DeepView SnapShot(®) device
and the Company will now seek the approval of its integrated AI application to
obtain both UKCA and FDA approval for the commercialization of the complete
DeepView SnapShot(®) System in the United States and across the globe.
“We believe we are in the best position in our history to deliver
significant value for patients dealing with acute and chronic wound
conditions, physicians and health systems that are challenged with effectively
and cost-efficiently managing these conditions, and, of course, our
shareholders,” Mr. Fan concluded.
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