Marpai, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 09:02 pm
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Marpai, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 8.73 million compared to USD 4.94 million a year ago. Net loss was USD 7.3 million compared to USD 5.78 million a year ago. Basic loss per share from continuing operations was USD 0.98 compared to USD 1.14 a year ago.
For the nine months, sales was USD 28.45 million compared to USD 16.71 million a year ago. Net loss was USD 23.72 million compared to USD 17.93 million a year ago. Basic loss per share from continuing operations was USD 3.62 compared to USD 3.58 a year ago.
Marpai, Inc. is a technology-driven healthcare company, which uses artificial intelligence (AI) and data analytics. The Company provides administrative services and acts as a third-party administrator (TPA) to self-insured employers who provide healthcare benefits to their employees. Its products and services include Health Plan Administration services, Ancillary In-House services, and Third-Party Vendor services. Its Health Plan Administration services offering includes handling all aspects of administration related to a healthcare plan. Its In-House Ancillary Services are derived from its in-house products related to its role as the administrator of the clients' health plans. The Company typically design healthcare benefit plan for its client, which allows the client to define the coverage it would like to provide to its employees. The Company offers MarpaiRx, a national pharmacy benefit management program.