Spectral AI, Inc. (MDAI) vs QT Imaging Holdings, Inc. (QTI)

Spectral AI, Inc. and QT Imaging Holdings, Inc. are both Medical Devices companies. Spectral AI, Inc. is the larger, with a market value of $44.4M against $30.3M — 1.5× the size. QT Imaging Holdings, Inc. grew revenue faster over the last twelve months: 220.0% against −44.1%. Spectral AI, Inc. has the higher net margin (−65.5% vs −77.3%) and the higher return on invested capital (0.00% vs −62.5%). Across the 16 metrics below, Spectral AI, Inc. leads on 10 and QT Imaging Holdings, Inc. on 6.

Valuation

Metric MDAI QTI Medical Devices median
P/E n/m n/m 24.94
P/S 3.11 1.13 2.66
P/B n/m 13.27 2.36
Price to free cash flow n/m n/m 28.12
EV/EBITDA n/m n/m 11.42
EV/Sales 2.92 1.29 2.76
Earnings yield (22.36%) (78.11%) (12.66%)
Free cash flow yield (26.94%) (42.73%) (7.18%)

Profitability

Metric MDAI QTI Medical Devices median
Gross margin 42.92% 40.39% 57.76%
Operating margin (77.17%) (24.84%) (14.84%)
Net margin (65.54%) (77.26%) (14.45%)
Free cash flow margin (83.66%) (48.19%) (5.70%)
Return on equity 95.15% (2,125.31%) (10.56%)
Return on assets (56.92%) (96.64%) (17.26%)
Return on invested capital 0.00% (62.51%) (5.22%)

Growth

Metric MDAI QTI Medical Devices median
Revenue growth (TTM) (44.13%) 220.02% 10.41%
EPS growth (last fiscal year) 65.88% 5.64% 28.17%
Revenue growth, 5-year CAGR — — 15.74%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric MDAI QTI Medical Devices median
Debt to equity (0.92) 6.81 0.04
Current ratio 0.90 3.10 2.67
Net debt to EBITDA 1.31 1.36 0.54

Dividend

Metric MDAI QTI Medical Devices median
Dividend yield — — 1.02%
Payout ratio — — 0.38

Size

Metric MDAI QTI Medical Devices median
Market cap 44.41m 30.29m 221.84m

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