Marpai Inc. (MRAI) shares gained 5.43% in after-hours on Thursday, January 13, 2021, and closed the daily trading at $2.91. However, in the regular trading session of Thursday, MRAI’s stock lost 6.76%. The stock volume remained 0.62 million shares. MRAI shares have moved down 24.18% in the past week. Marpai has a current market of $57.33 million and its outstanding shares stood at 20.77 million.
Let’s discuss its recent news and developments.
MRAI launched Marpai Cares
On January 13, 2022, Marpai, Inc. (MRAI) launched Marpai Cares, its premier AI-powered proactive health service. Marpai Cares provides health plan members with early interventions to help prevent or reduce near-term health events related to chronic illnesses and major procedures to prevent costly claims.
Marpai is an AI-powered TPA (third party administrator) alternative, serving employers with self-funded health plans that use advanced technologies, to drive healthcare costs down and health outcomes.
MRAI stepping into the educational sector
On December 21, 2021, Marpai, Inc (MRAI), announced to establish a center of excellence in the education market to provide premium health plan services to school districts across the country. Marpai has commenced its service for four school districts in Texas, representing 39 schools.
MRAI shares purchased by its management
On December 20, 2021, Marpai, Inc. (MRAI), announced the Company’s management and directors purchased $1.1 million of Marpai common stock.
Damien Lamendola, the board member of Marpai, increased his beneficial holdings in the Company to 5.88 million shares of Class A Common Stock through the exercise by Hillcour, of 225,000 warrants at $4 per share.
Yaron Eitan, Chairman, and co-founder also purchased 25,000 shares, and Edmundo Gonzalez, CEO, and co-founder bought 17,500 shares from the open market, at prices ranging from $4.17 to $4.42 per share.
MRAI latest financial results
On December 9, 2021, Marpai, Inc. (MRAI), announced its financial results for the quarter and nine months ended September 30, 2021.
Q3 2021 financial highlights
- MRAI reported net revenue of approximately $4.8 million for the third quarter of 2021, compared to zero revenue in the third quarter of 2020.
- Total operating expenses were approximately $9.5 million in Q3 2021 compared to $0.8 million for Q3 2020.
- It suffered a net loss of approximately $4.8 million for the third quarter of 2021 as compared to a net loss of approximately $0.9 million for the third quarter of 2020.
- In Q3 2021, Adjusted EBITDA was negative $3.7 million compared to negative $0.6 million for the third quarter of 2020.
Q4 2021 financial outlook
For Q4 2021, Marpai is expecting, total revenue to be in the range of $5.6 million to $5.8 million.
Marpai stock did a recovery in the after-hours on Thursday after it announced to launch its new service Marpai Cares. We hope that it will continue its positivity on Friday as well.