Marpai, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 07:03 am EDT
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Marpai, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 10.05 million compared to USD 5.56 million a year ago. Net loss was USD 7.56 million compared to USD 6.66 million a year ago. Basic loss per share from continuing operations was USD 1.1 compared to USD 1.34 a year ago.
For the six months, sales was USD 19.72 million compared to USD 11.78 million a year ago. Net loss was USD 16.43 million compared to USD 12.15 million a year ago. Basic loss per share from continuing operations was USD 2.7 compared to USD 2.46 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.