Marpai (MRAI) EBITDA Margin (2021 - 2026)
Marpai's EBITDA Margin was -54.43% in Q3 2026, up 11.76 percentage points from -66.19% a year earlier and up 26.44 percentage points from the prior quarter.
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Analysis
Marpai (MRAI) EBITDA Margin (2021 - 2026) Analysis & Trends
On a trailing twelve-month basis, Marpai's EBITDA Margin was -76.86% through Sep 30, 2026, down 24.84 percentage points year-over-year; for FY2025, it came in at -72.96%, down 3.28 percentage points from FY2024.
- EBITDA Margin shows a four-year change of +24.55 percentage points (FY2021 to FY2025).
- In earlier years, EBITDA Margin was -69.68% in FY2024 (-4.87 pp), -64.81% in FY2023 (+31.40 pp), -96.21% in FY2022 (+1.30 pp) and -97.51% in FY2021.
- The Q3 2026 figure marks the highest quarterly EBITDA Margin since Q1 2025.
- Compared with a year earlier, EBITDA Margin was higher in four of the last eight quarters, with an average year-over-year change of -2.97 percentage points.
- The best year-over-year quarter for EBITDA Margin over five years was Q2 2025 (a gain of 82.66 percentage points); the worst was Q2 2024 (a drop of 95.63 percentage points).
- Per Business Quant data, MRAI's EBITDA Margin in the three quarters before Q3 2026 was -80.87% (Q2 2026), -54.73% (Q1 2026) and -122.22% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 365.22 Bn | 251.88 Bn | 35.71 Bn | 6.78% |
| 2 | Mckesson | 127.33 Bn | 111.26 Bn | 3.96 Bn | 1.62% |
| 3 | Cvs Health | 114.34 Bn | 63.29 Bn | 47.21 Bn | 4.33% |
| 4 | Elevance Health | 92.86 Bn | -49.61 Bn | 13.65 Bn | 4.89% |
| 5 | Cigna | 78.25 Bn | 47.45 Bn | 15.09 Bn | 4.43% |
| 6 | Cencora | 68.51 Bn | 68.51 Bn | 3.60 Bn | - |
| 7 | Cardinal Health | 64.97 Bn | 48.29 Bn | 2.60 Bn | 1.48% |
| 8 | Humana | 54.10 Bn | -36.68 Bn | 4.83 Bn | 0.64% |
| 9 | Centene | 35.04 Bn | -39.00 Bn | 8.24 Bn | 85.59% |
| 10 | Marpai | 51.68 Mn | 50.85 Mn | 1.02 Mn | -54.43% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -54.43% |
| Jun 30, 2026 | -80.87% |
| Mar 31, 2026 | -54.73% |
| Dec 31, 2025 | -122.22% |
| Sep 30, 2025 | -66.19% |
| Jun 30, 2025 | -75.34% |
| Mar 31, 2025 | -39.72% |
| Dec 31, 2024 | -36.97% |
| Sep 30, 2024 | -39.68% |
| Jun 30, 2024 | -158.01% |
| Mar 31, 2024 | -42.17% |
| Dec 31, 2023 | -48.60% |
| Sep 30, 2023 | -69.90% |
| Jun 30, 2023 | -62.38% |
| Mar 31, 2023 | -77.33% |
| Dec 31, 2022 | -102.84% |
| Sep 30, 2022 | -100.69% |
| Jun 30, 2022 | -105.96% |
| Mar 31, 2022 | -75.79% |
| Dec 31, 2021 | -84.99% |
API Access
Marpai EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=MRAI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "MRAI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=MRAI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();