← Back to Stock Screener← Stock Screener

ZYBERNO

Stock Report

Updated Sep 1, 2026

SPECTRAL AI, INC. (MDAI)

Healthcare • NASDAQ

$1.57

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

7.0/100

POOR BUSINESS

SPECTRAL AI, INC. (MDAI) scores 7/100 — concerning metrics indicating significant structural or financial risks.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full MDAI quality analysis & detailed breakdown

VALUATION SIGNAL

N/A (Requires more data)

Requires fair value calculation and current price data

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full MDAI valuation analysis · → View full MDAI Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (0.0%)

Debt-to-Equity (Solvency Risk):EXCELLENT (0.00x)

Operating Margin (Operational Efficiency):CRITICAL (-77.2%)

Return on Capital (Capital Efficiency):CRITICAL (-163.9%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

SPECTRAL AI, INC. (MDAI) stock report — Zyberno Score 7/100 (POOR BUSINESS). Full financial analysis on Zyberno.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:1.57

Market Cap:$50.37M

Valuation Multiples (2)

P/S Ratio:3.27x

Peg Ratio:-999.00x

Enterprise Metrics (1)

Enterprise Value:$48.22M

Price Action & Momentum (3)

12-1 Momentum:

-17.1% (17th pctile)

📈 Click to view full MDAI Momentum analysis →

Momentum Percentile:17 / 100

% of 52-Week High:52.9%

B. Profitability Assessment

Return Metrics (4)

ROA:-82.1%

Roic:

-163.9%

📊 Click to view full MDAI ROIC analysis →

Reinvestment Rate:0.8%

Fundamental Growth Rate (g):-1.3%

Margin Analysis (3)

Operating Margin Ttm:-77.2%

Net Margin Ttm:-98.5%

Ebitda Margin:-76.5%

TTM Performance (3)

Gross Margin Ttm:42.9%

Operating Margin Ttm:-77.2%

Net Margin Ttm:-98.5%

Yield Metrics (2)

Earnings Yield:-$30.64

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):-8.8%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:0.90x

Quick Ratio:0.85x

Cash Ratio:0.70x

Leverage Analysis (1)

Debt To Ebitda:-999.00x

Coverage Ratios (2)

Interest Coverage Ratio:-9.19x

Times Interest Earned:-9.19

Capital Structure (4)

Working Capital:-2,077,000.00

Cash And Cash Equivalents:14,000,000.00

Long Term Debt:$11.06M

Net Debt:-$2.15M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $15.39M

Linear Growth: -8.8%

📊 Click to view full MDAI Revenue analysis & methodology →

Cost Of Revenue Ttm:$8.79M

Profitability Breakdown (2)

Gross profit TTM: $6.61M

Linear Growth: -10.7%

📊 Click to view full MDAI Gross Profit analysis & methodology →

-$11.88M

Bottom Line Performance (3)

-$15.16M

Income Before Tax:-$14.99M

Ebitda Ttm:-11,780,000.00

Operating Expenses (5)

Operating Expenses:18,486,000.00

R And D Expense:11,596,000.00

Sga Expense:16,137,000.00

Income Tax Expense:$261.00K

Interest Expense:936,000.00

Expense Ratios (3)

R And D To Revenue Percentage:329.1%

Sga To Revenue Percentage:457.9%

Ebitda Margin:-76.5%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$19.44M

Current Assets:$17.79M

Ppe Net:198,000.00

Goodwill:0.00

Intangible Assets:$0.00

Liability Structure (4)

Total Liabilities:31,490,000.00

Current Liabilities:19,869,000.00

Long Term Debt:$11.06M

Short Term Debt:$800.00K

Equity & Capital (3)

Equity:-$12.05M

Retained Earnings:-$63.39M

Common Stock:80,000,000.00

Working Capital Items (3)

Accounts Receivable:1,181,000.00

Inventory:815,000.00

Accounts Payable:1,725,000.00

Special Items (2)

Contract Liabilities:21,000.00

Stock Based Compensation:807,000.00

C. Cash Flow Analysis

Operating Activities (2)

-$12.14M$0.00

Investment Activities (1)

Investing Cash Flow:$0.00

Financing Activities (3)

Financing Cash Flow:-$1.00K

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:10,638,000.00

Long Term Debt Issuance:$8.29M

Long Term Debt Repayments:$0.00

Non-Cash Items (1)

Depreciation Amortization Ttm:99,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):-0.53

-$0.53

Earnings Per Share Ttm:-$0.47

Revenue & Cash Per Share (2)

Sales Per Share Ttm:0.48

Operating Cash Flow Per Share:-$0.31

Book Value & Capital (2)

Book Value Per Share:-$0.38

Cash Per Share:0.44

Dividend Policy (1)

Dividend Payout Ratio:-999.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.83x

Working Capital Turnover Ttm:-999.00x

Receivables Management (2)

Receivables Turnover Ttm:13.03x

Days Sales Outstanding Ttm:28.00

Inventory Management (2)

Inventory Turnover Ttm:10.78x

Days Inventory Outstanding Ttm:33.86

Payables & Cash Cycle (2)

Days Payable Outstanding:71.66

Cash Conversion Cycle:-9.80

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:0.00

Quality Score:15.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Damodaran Growth Analysis (2)

Reinvestment Rate:0.8%

Fundamental Growth Rate (g):-1.3%

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (1)

Revenue Growth Rate (Linear):-8.8%

Other Growth Rates (1)

Gross Profit Growth Rate (Linear):-10.7%

C. Company Profile & Context

Corporate Information (6)

Symbol:MDAI

Company Name:SPECTRAL AI, INC.

Sector:Healthcare

Industry:Medical Devices

Exchange:NASDAQ

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:low

Volume Category:N/A

Share Structure (3)

Shares Outstanding:32.08M

Shares Outstanding Basic:32.08M

Shares Outstanding Diluted:32.08M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-09-01 00:48:59 UTC

Data Timestamp:2026-08-20T06:07:16.723745