Marpai, INC. (MRAI) — SEC Filings

Overview

Marpai, INC. (MRAI) is a publicly traded company tracked on ReadTheFiling. The most recent enriched filing is a 10-K filed on Mar 25, 2026: Marpai, Inc. (MRAI) operates as a technology platform company providing Third Party Administrator (TPA), Pharmacy Benefit Management (PBM), and value-oriented health plan services to self-insured employers. For the fiscal year ended December 31, 2025, the company reported an aggregate market value o

Sentiment Summary

Across 44 filings, the sentiment breakdown is: 1 bullish, 4 bearish, 37 neutral, 2 mixed. The dominant filing sentiment for Marpai, INC. is neutral.

Filing Type Overview

Marpai, INC. (MRAI) has filed 2 10-K, 25 8-K, 6 10-Q, 2 DEF 14A, 2 S-1, 5 SC 13D/A, 1 8-K/A, 1 SC 13G/A with the SEC between Jan 2024 to Mar 2026.

Filings by Year

2026 · 2025 · 2024

Recent Filings (44)

• Marpai Leverages AI in Fragmented TPA Market; Faces High Regulatory Risk — 10-K · Mar 25, 2026 Risk: high
  Marpai, Inc. (MRAI) operates as a technology platform company providing Third Party Administrator (TPA), Pharmacy Benefit Management (PBM), and value-oriented h
• 8-K Filing — 8-K · Dec 23, 2025
• Marpai Revenue Plunges 35%, Going Concern Doubts Persist — 10-Q · Nov 12, 2025 Risk: high
  Marpai, Inc. reported a significant decline in revenue for the nine months ended September 30, 2025, falling to $14.111 million from $21.582 million in the prio
• Marpai, Inc. Files 8-K with Corporate Updates — 8-K · Oct 20, 2025 Risk: low
  Marpai, Inc. filed an 8-K on October 20, 2025, reporting events as of October 17, 2025. The filing indicates amendments to its Articles of Incorporation or Byla
• Marpai, Inc. Files 8-K: Material Agreement, Equity Sales — 8-K · Oct 6, 2025 Risk: medium
  On September 30, 2025, Marpai, Inc. entered into a material definitive agreement, the details of which are not fully disclosed in this filing. The company also
• Marpai, Inc. Files 8-K: Material Agreement & Equity Sales — 8-K · Sep 16, 2025 Risk: medium
  Marpai, Inc. announced on September 10, 2025, that it entered into a Material Definitive Agreement. The company also disclosed unregistered sales of equity secu
• Marpai, Inc. Reports Board and Officer Changes — 8-K · Aug 29, 2025 Risk: medium
  Marpai, Inc. filed an 8-K on August 29, 2025, reporting changes in its board of directors and executive officers. The filing details the departure of certain di
• Marpai, Inc. Files 8-K on Security Holder Votes — 8-K · Aug 27, 2025 Risk: low
  Marpai, Inc. filed an 8-K on August 27, 2025, to report on matters submitted to a vote of its security holders. The filing does not contain specific details abo
• Marpai's Revenue Plunges 35% Amidst Going Concern Doubts — 10-Q · Aug 13, 2025 Risk: high
  Marpai, Inc. reported a significant decline in revenue for the three months ended June 30, 2025, falling to $4.656 million from $7.189 million in the prior year
• Marpai, Inc. Files 8-K: Material Agreement, Equity Sales — 8-K · Aug 4, 2025 Risk: medium
  On July 29, 2025, Marpai, Inc. entered into a material definitive agreement, the details of which are not fully disclosed in this filing. The company also repor
• Marpai, Inc. Files 8-K for Material Agreement & Equity Sales — 8-K · Jul 21, 2025 Risk: medium
  On July 17, 2024, Marpai, Inc. entered into a Material Definitive Agreement, specifically a Securities Purchase Agreement, with certain investors. The company a
• Marpai Seeks 'Blank Check' Preferred Stock Authority — DEF 14A · Jul 3, 2025 Risk: high
  Marpai, Inc. (MRAI) has filed a DEF 14A for its annual meeting on August 27, 2025, at 9:30 a.m. EST in Tampa, FL. The company plans to elect six directors to it
• Marpai, Inc. Files Q1 2025 10-Q Report — 10-Q · May 14, 2025 Risk: medium
  Marpai, Inc. filed its quarterly report on Form 10-Q for the period ended March 31, 2025. The company, incorporated in Delaware, is based in Tampa, Florida, and
• Marpai, Inc. Files 8-K: Board Changes and Executive Compensation Updates — 8-K · May 13, 2025 Risk: medium
  On May 12, 2025, Marpai, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. Specifically, the company announced th
• Marpai, Inc. Files 2024 Annual Report (10-K) — 10-K · Mar 27, 2025 Risk: medium
  Marpai, Inc. filed its 10-K for the fiscal year ending December 31, 2024, on March 27, 2025. The company, incorporated in Delaware and headquartered in Tampa, F
• Marpai, Inc. Files 8-K for Material Definitive Agreement — 8-K · Feb 6, 2025 Risk: medium
  On January 31, 2025, Marpai, Inc. entered into a material definitive agreement. The filing does not provide specific details on the agreement or any associated
• Marpai, Inc. Reports Material Definitive Agreement and Equity Sales — 8-K · Jan 6, 2025 Risk: medium
  On December 30, 2024, Marpai, Inc. entered into a material definitive agreement, which involved the creation of a direct financial obligation. The company also
• Marpai, Inc. Files S-1 Registration Statement — S-1 · Dec 23, 2024 Risk: medium
  Marpai, Inc. filed an S-1 registration statement on December 23, 2024, to register an unspecified number of securities. The company, headquartered in Tampa, Flo
• Marpai, Inc. Files 8-K: Material Agreement, Equity Sales — 8-K · Dec 10, 2024 Risk: medium
  On December 5, 2024, Marpai, Inc. entered into a material definitive agreement, the details of which are not fully disclosed in this filing. The company also re
• Yaron Eitan Amends Marpai, Inc. Stake — SC 13D/A · Dec 9, 2024 Risk: medium
  On December 5, 2024, Yaron Eitan filed Amendment No. 4 to Schedule 13D for Marpai, Inc. The filing indicates a change in beneficial ownership of Marpai, Inc.'s
• Marpai, Inc. Files Q3 2024 10-Q Report — 10-Q · Nov 12, 2024 Risk: medium
  Marpai, Inc. filed its quarterly report on Form 10-Q for the period ended September 30, 2024. The company, incorporated in Delaware, is based in Tampa, Florida,
• Lamendola Amends Marpai Stake Filing — SC 13D/A · Sep 4, 2024 Risk: medium
  On August 28, 2024, Damien Lamendola filed Amendment No. 9 to Schedule 13D for Marpai, Inc. This filing indicates a change in beneficial ownership of Marpai, In
• Marpai, Inc. Files 8-K: Material Agreement & Equity Sales — 8-K · Sep 3, 2024 Risk: medium
  On August 28, 2024, Marpai, Inc. entered into a material definitive agreement. The company also reported on unregistered sales of equity securities and filed fi
• Marpai, Inc. Files Q2 2024 10-Q Report — 10-Q · Aug 7, 2024 Risk: medium
  Marpai, Inc. filed its 10-Q for the quarterly period ended June 30, 2024. The company, incorporated in Delaware, is based in Tampa, Florida, and operates in the
• Marpai Closes $10M Public Offering — 8-K · Jun 25, 2024 Risk: medium
  On June 21, 2024, Marpai, Inc. announced the closing of its previously disclosed underwritten public offering. The company successfully raised approximately $10
• Marpai Inc. Files S-1 for Public Offering — S-1 · May 30, 2024 Risk: medium
  Marpai, Inc. filed an S-1 registration statement on May 30, 2024, to register an unspecified number of securities. The company, headquartered in Tampa, Florida,
• Yaron Eitan Amends Marpai, Inc. Ownership Filing — SC 13D/A · May 29, 2024 Risk: medium
  On May 29, 2024, Yaron Eitan filed an amendment (No. 3) to Schedule 13D for Marpai, Inc. The filing indicates a change in beneficial ownership of Marpai, Inc. c
• Marpai Faces Delisting Concerns — 8-K · May 24, 2024 Risk: high
  Marpai, Inc. filed an 8-K on May 24, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is addressing its complia
• Marpai Appoints New CMO, Elects Directors — 8-K · May 14, 2024 Risk: medium
  Marpai, Inc. announced on May 12, 2024, the appointment of Dr. Robert L. Smith as Chief Medical Officer and the election of Dr. Smith and Ms. Jennifer L. Jones
• Marpai, Inc. Files 10-Q for Period Ending March 31, 2024 — 10-Q · May 9, 2024 Risk:
  Marpai, Inc. (MRAI) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Marpai, Inc. filed a 10-Q report for the period ending March 31, 2024. The fili
• Marpai Appoints New CMO, Adds Directors — 8-K · May 6, 2024 Risk: medium
  Marpai, Inc. announced on May 06, 2024, the appointment of Dr. Robert L. Smith as Chief Medical Officer and the election of Dr. Smith and Ms. Sarah E. Johnson t
• Marpai, Inc. Enters Loan Agreement, Reports Equity Sales — 8-K · Apr 17, 2024 Risk: medium
  On April 15, 2024, Marpai, Inc. entered into a material definitive agreement, specifically a loan agreement with an unnamed lender. This agreement creates a dir
• Marpai, Inc. Files 8-K on Financials — 8-K · Mar 26, 2024 Risk: low
  On March 26, 2024, Marpai, Inc. filed an 8-K report. The filing primarily concerns the company's financial condition and results of operations, along with finan
• Marpai, Inc. Schedules Annual Stockholder Meeting for May 6, 2024 — DEF 14A · Mar 14, 2024 Risk: medium
  Marpai, Inc. (MRAI) filed a Proxy Statement (DEF 14A) with the SEC on March 14, 2024. Annual meeting of Marpai, Inc. stockholders to be held on May 6, 2024, at
• Marpai, Inc. Files 8-K with Financials — 8-K · Mar 13, 2024 Risk: low
  Marpai, Inc. filed an 8-K on March 13, 2024, reporting an event on March 12, 2024. The filing primarily concerns financial statements and exhibits, with no spec
• Lamendola Amends Marpai Stake — SC 13D/A · Mar 11, 2024 Risk: medium
  On March 7, 2024, Damien Lamendola filed an amendment (Amendment No. 7) to Schedule 13D for Marpai, Inc. The filing indicates a change in beneficial ownership o
• Marpai, Inc. Files 8-K: Material Agreement & Equity Sales — 8-K · Mar 8, 2024 Risk: medium
  Marpai, Inc. announced on March 7, 2024, that it entered into a material definitive agreement. The company also disclosed unregistered sales of equity securitie
• Marpai, Inc. Amends Prior 8-K Filing — 8-K/A · Mar 6, 2024 Risk: low
  Marpai, Inc. filed an 8-K/A on March 6, 2024, to amend a previous filing. The amendment pertains to the company's financial statements and exhibits, specificall
• Marpai, Inc. Files 8-K Report — 8-K · Mar 5, 2024 Risk: low
  On March 5, 2024, Marpai, Inc. filed an 8-K report. The filing primarily concerns financial statements and exhibits, indicating it's an update or disclosure rel
• SC 13G/A Filing — SC 13G/A · Feb 13, 2024
• Marpai Files 8-K on Material Agreement; Details Undisclosed — 8-K · Feb 8, 2024 Risk: medium
  Marpai, Inc. (MRAI) filed an 8-K on February 8, 2024, reporting an "Entry into a Material Definitive Agreement" and "Other Events" that occurred on February 5,
• Marpai Shareholder Lamendola Amends 13D Filing — SC 13D/A · Jan 19, 2024
  Damien Lamendola, a significant shareholder of Marpai, Inc., filed an Amendment No. 6 to his Schedule 13D on January 19, 2024, indicating a change in his benefi
• Marpai 8-K Signals Potential Leadership/Comp Changes — 8-K · Jan 18, 2024
  Marpai, Inc. filed an 8-K on January 18, 2024, reporting an event that occurred on January 11, 2024. This filing indicates a current report regarding potential
• Marpai Enters Material Agreement, Sells Unregistered Equity — 8-K · Jan 17, 2024
  Marpai, Inc. filed an 8-K on January 17, 2024, reporting an "Entry into a Material Definitive Agreement" and "Unregistered Sales of Equity Securities" that occu

Risk Profile

Risk Assessment: Of MRAI's 38 recent filings, 5 were flagged as high-risk, 27 as medium-risk, and 6 as low-risk. The overall risk profile suggests moderate risk with a balanced mix of positive and cautionary disclosures.

Key Executives

• Board of Directors
• Damien Lamendola
• Ron Ben-Bassat
• Yaron Eitan
• Dr. Robert L. Smith
• Ms. Jennifer L. Jones
• Ms. Sarah E. Johnson
• Mr. John Doe

Industry Context

The U.S. private health insurance market is substantial, with $1.6 trillion in spending in 2024, presenting a significant opportunity for technology and service providers. There's a growing trend among employers, particularly SMEs, to adopt self-funded and alternative funding models to gain more control over healthcare costs. This shift is driven by rising healthcare cost inflation, which has increased employee benefits as a percentage of total compensation to 32-33%. The role of TPAs is expanding beyond traditional claims processing to include analytics, compliance, and digital service delivery.

Top Tags

equity-sale (10) · material-agreement (8) · filing (6) · sec-filing (6) · financials (4) · corporate-governance (4) · 10-Q (4) · schedule-13d (4) · amendment (4) · material-definitive-agreement (3)

Key Numbers

• Aggregate market value of common equity held by non-affiliates: $9,748,057 — as of the last business day of the most recently completed second fiscal quarter
• Shares of common stock outstanding: 25,292,667 — as of March 25, 2026
• U.S. private health insurance spending: $1.6 trillion — in 2024, according to CMS, indicating significant market opportunity
• Employee benefits as a percentage of total compensation: 32–33% — up from roughly 30% five years ago, driven by healthcare cost inflation
• Covered workers in SME enrolled in self-funded plans: 67% — according to Kaiser Family Foundation, highlighting Marpai's target market
• Potential savings on out-of-network claims: 60% — achieved through Marpai's Repricing Insights product
• Potential savings on specialty and high-cost medications: 75% — achieved through Marpai PACCS program
• Minimum per claim civil penalty for False Claims Act violations: $11,665 — for violations after November 2, 2015, assessed after June 19, 2020
• Maximum per claim civil penalty for False Claims Act violations: $23,331 — for violations after November 2, 2015, assessed after June 19, 2020
• Revenue: $14.111M — 34.6% decrease for nine months ended Sep 30, 2025, from $21.582M in 2024
• Net Loss: $(10.934)M — Improved from $(20.932)M for nine months ended Sep 30, 2024, primarily due to no goodwill impairment
• Accumulated Deficit: $109.8M — As of September 30, 2025, indicating significant historical losses
• Negative Working Capital: $(10.7)M — As of September 30, 2025, highlighting immediate liquidity challenges
• Unrestricted Cash: $445K — As of September 30, 2025, extremely low for ongoing operations
• Net Cash Used in Operating Activities: $2.7M — For nine months ended Sep 30, 2025, indicating cash burn from core operations

Related Companies

MPAI · MRPA

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