Spectral Ai, Inc. · NASDAQ:MDAI
Spectral Ai — Investor Presentation (February 2024)
32 slides from Spectral Ai's investor presentation, Feb 13, 2024
Slide 1: Predictive Wound Healing AI + Multispectral Imaging
Predictive Wound Healing AI + Multispectral Imaging = Faster, More Accurate Treatment Decisions in Healthcare Nasdaq: MDAI | February 2024
Slide 2: AI-Driven wound assessment technology across the healthcare continuum
AI - Driven wound assessment technology designed to deliver value across the healthcare continuum 16.3 Million shares outstanding Feb 1, 2024 Supported by $250M+ non - dilutive government funding Clear regulatory pathway Limited competition Headquarters Dallas, TX Strong competitive barriers to entr
Slide 3: Recent Accomplishments Since August 2023
Recent Accomplishments SINCE AUGUST 2023 Initiated pivotal study to validate the DeepView System for Burn Strengthened Board and management team Secured $10 Million committed equity facility Certified ISO13485 Listed successfully on Nasdaq Awarded $149M BARDA Project BioShield contract Achieved FDA/
Slide 4: Delivering on Commitments
Delivering on Commitments 10 - year track record of meeting milestones validated by $250M non - dilutive government funding • Proof of concept • Clinical validation • Product validation Prioritizing growth opportunities in profitable markets, positioning ourselves for near - term commercial success.
Slide 5: DeepView Imaging: Our Technology
DeepView Imaging Patented proprietary multi - spectral imaging data acquisition in milliseconds Capturing injured tissue spectral signature Covering visible near UV through visible spectrum and into near - IR light OUR TECHNOLOGY Data extraction Extraction of AI model features, such as tissue charac
Slide 6: One Imaging Platform, Multiple Indications
One Imaging Platform, Multiple Indications Potential Clinical Indications Wound Bed Preparedness Amputation Digital Guided Therapy Critical Limb Ischemia Cosmetics DeepView SnapShot ® M | Handheld Military anticipate selling 2026 Miniaturized Mobile Home Healthcare Burn Wound Anticipate selling 2024
Slide 7: Empowering healthcare providers with predictive clinical insights
Empowering healthcare providers with predictive clinical insights for precise treatment decisions in wounds. 6
Slide 8: DFU Indication
This wound is not likely to heal by 50% within 4 weeks The DeepView system analyzes multispectral images that combined with clinical data provides a healing prediction on Diabetic Foot Ulcer (DFU) . DeepView difference • Objective standardized digital measurements. • DeepView predictive AI provides
Slide 9: Burn Indication
Burn Indication This burn will not heal The DeepView system analyzes multispectral images that combined with clinical data provides a healing prediction on burn wounds . DeepView difference • Reduces time to surgery⁸ • Avoids unnecessary surgeries⁹ • Unnecessary burn center transfers.¹⁰ • Uniformed
Slide 10: Targeting Multiple Care Centers
Burn Centres 40 Trauma Centres 25 A&E 230 Foot Protection Service 150 ICS Foot & Ankle 40 Community Nursing 500 Targeting Multiple Care Centers Burn Centers 125 Emergency Department 4,500 Wound Care Centers 1,100 Podiatry 4,000+ Burn DFU 9
Slide 11: Measuring ROI across time, money, and patient outcomes
Measuring ROI across time, money, and patient outcomes Commercial strategy includes parallel paths Key Steps to Successful Market Access PUBLICATIONS AI methodology & machine learning Patient outcomes; provider behavior change HEALTH ECONOMICS REIMBURSEMENT REGULATORY MARKET ACCESS De Novo/510k CA M
Slide 12: Value Proposition and Anticipated Systemwide Benefits
60% YES • Standardized digital documentation 40% NO • Savings of office visits & treatment materials • Savings of HCP time • Reduction in patient journey Prospective clinical evidence with health economics and outcomes will quantify the system benefits Anticipated Benefits • Standardized total body
Slide 13: BARDA Support Over the Years
Management’s track record through years of BARDA engagement validates and increases probability of success for DeepView across clinical indications (Burn and DFU) and geography (U.S., UK, EMEA). 2013 Burn I 12 2019 Burn II $26M Proof of Concept $75M Research Testing 2023 Procurement Contract Base $5
Slide 14: Planned near-term product deployments
2024 2025 2026 2027 Product Q1 Q2 Q3 Q4 H1 H2 H1 H2 Burn DFU Burn DFU Planned near - term product deployments Real - world Evidence RWE Pivotal Studies & Market Readiness PS&MR Anticipated Regulatory Authorization REG Begin commercial activity SELLING 13
Slide 15: Revenue Opportunity
Includes annual license fee and one - time device sale REVENUE OPPORTUNITY U.S. R&D • BARDA PBS Contract includes $55M R&D revenue spread across 4Q23 - 1Q26 • Modest additional R&D revenue from MTEC in 2024 14 UK License • Annual license fee for use of AI data • Separate license for each indication
Slide 16: Intellectual Property
Intellectual Property 20 Allowed U.S. and international patents 34 Pending U.S. and international patent applications Useful life on key patent protection on core concepts exceeds 14 years 15
Slide 17: Improving health and cost outcomes for all
Improving health and cost outcomes for all Clinician • Informed treatment decisions • Increased efficiency Care Facility • Uniformed clinical decisions • Equality of care • Improved efficiency • Government digital initiatives Patient • Reduced treatment time for patients and caregiver burden • Reduc
Slide 18: Investment Summary
Investment Summary AI - Driven Clinical Diagnostics FDA Breakthrough Designation Strong Competitive Barriers Systemwide Benefits Identified Regulatory Pathway Universal Platform for Additional Clinical Indications Large & Growing Markets Near - Term Commercial Opportunities Experienced Management Te
Slide 19: Appendix: Financials, Patents
Appendix Financials Patents 18
Slide 20: Summary balance sheets
YTD 3Q23 2022 2021 $ thousands $ 7,348 $ 14,174 $ 16,121 Cash 1,312 2,294 1,435 Accounts receivable, net 2,696 1,219 911 Other Current Assets 11,356 17,687 18,467 Total Current Assets 975 1,029 72 Non - current Assets $ 12,331 $18,716 $ 18,539 Total Assets $ 3,275 $ 2,759 $ 1,414 Accounts Payable 3,
Slide 21: Summary income statements
Summary income statements YTD 3Q23 2022 2021 $ thousands except per share data $ 12,769 $ 25,368 $ 15,239 Research and Development Revenue (7,325) (14,531) (8,187) Cost of Revenue 5,444 10,837 7,052 Gross Profit 15,499 13,484 11,231 Operating Expenses (10,055) (2,647) (4,179) Operating Income (Loss)
Slide 22: Summary cash flow statements
Summary cash flow statements $ thousands 2021 2022 YTD 3Q23 Net Loss $ (3,988) $ (2,912) $ (17,308) Stock - based Compensation 1,365 1,155 975 Depreciation 1 11 7 Amortization of Right - of - Use Assets - 557 530 Issuance of Shares for Transaction Costs 1,800 Commitment to Issue Shares for Transacti
Slide 23: Non-GAAP reconciliation
Non - GAAP reconciliation YTD 3Q23 2022 2021 $ thousands $ (17,308) $ (2,912) $ (3,988) Net Loss 32 106 (98) Income Tax Provision (Benefit) (128) (21) 17 Net Interest (Income) Expense (17,404) (2,827) (4,069) EBIT 7 11 1 Depreciation Expense (17,397) (2,816) (4,068) EBITDA 975 1,155 1,365 Stock - ba
Slide 24: Management team
Wensheng Fan CEO/Co - Founder 20 yrs+ managing emerging technologies in AI, Imaging and NLP at Sensata, Texas Instruments, and Philips Niko Pagoulatos, PhD Chief Operating Officer 25 yrs+ of experience in engineering, clinical and business aspects of specialized medical ultrasound imaging including
Slide 25: Board of Directors and Strategic Advisory Board
Board of Directors Strategic Advisory Board Toby Cosgrove • Former president and Chief Executive Officer of Cleveland Clinic and currently serves as an Executive Advisor for Cleveland Clinic • Former president of the American Association of Thoracic Surgery John Botts • Operating Partner of Corsair,
Slide 26: Expert clinical guidance
Expert clinical guidance This technology has promise to be the leap forward we have needed to bring about systematic change in burn care from the frontline all the way to the experts. DR. JEFF CARTER, MD Chief Medical Consultant Dr. Carter has been practicing burn/trauma medicine for over 12 years a
Slide 27: Active patent application families
Active patent application families protecting our current and anticipated future business Intellectual property formidable barrier to entry U.S. AND GLOBAL IP • Burn/Wound classification on MSI and PPG • Tissue classification on MSI and PPG • Amputation site analysis on MSI, machine learning and hea
Slide 28: Reference List
REFERENCE LIST 1. Data from Spectral MD’s IRB approved Proof of Concept Clinical Study 27 2. https:// www.cnn.com/2023/08/09/weather/maui - county - wildfires - hurricane - dora/index.html 3. Pixel data per Spectral MD clinical studies. 4. Data from Spectral MD’s IRB approved Proof of Concept Clinic
Slide 29: Forward Looking Statements
FORWARD LOOKING STATEMENTS Except for the historical information contained herein, this document contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 , including statements regarding (i) our strategy, plans, objectives and initiatives, includ
Slide 30: Additional Information and Where to Find It
Caution – Investigational Device. Limited by Federal or U.S. Law to Investigational Use Additional Information and Where to Find It This presentation is provided for informational purposes only. Spectral AI investors and stockholders will be able to obtain copies of any documents filed with the SEC,
Slide 31: Connect with us
spectral - ai.com ir@spectralmd.com Connect with us 30
Slide 32: Spectral AI: Seeing the Unknown
¥ Spectral AL Seeing the Unknown