Marpai (MRAI) Gross Margin (2021 - 2026)
Marpai's Gross Margin came in at 23.15% for Q3 2026, down 3.46 percentage points from 26.60% a year earlier and down 0.79 percentage points from the prior quarter.
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Analysis
Marpai (MRAI) Gross Margin (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Marpai reported Gross Margin of 24.98%, down 5.73 percentage points year-over-year; for FY2025, it was 26.41%, down 5.91 percentage points from FY2024.
- Gross Margin carries a four-year change of -1.26 percentage points (FY2021 to FY2025).
- Going back by year, Gross Margin was 32.33% in FY2024 (-2.44 pp), 34.76% in FY2023 (+5.16 pp), 29.60% in FY2022 (+1.93 pp) and 27.67% in FY2021.
- The Q3 2026 figure represents the lowest quarterly Gross Margin since Q2 2025.
- Year-over-year, Gross Margin increased in three of the last eight quarters, with an average year-over-year change of -3.10 percentage points.
- The fastest year-over-year change in Gross Margin over five years came in Q2 2023 (a gain of 10.72 percentage points), and the weakest in Q4 2025 (a drop of 13.77 percentage points).
- Business Quant data shows MRAI's Gross Margin at 23.93% (Q2 2026), 27.12% (Q1 2026) and 25.73% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 365.22 Bn | 251.88 Bn | 35.71 Bn | 31.69% |
| 2 | Mckesson | 127.33 Bn | 111.26 Bn | 3.96 Bn | 3.57% |
| 3 | Cvs Health | 114.34 Bn | 63.29 Bn | 47.21 Bn | 43.56% |
| 4 | Elevance Health | 92.86 Bn | -49.61 Bn | 13.65 Bn | 26.54% |
| 5 | Cigna | 78.25 Bn | 47.45 Bn | 15.09 Bn | 20.48% |
| 6 | Cencora | 68.51 Bn | 68.51 Bn | 3.60 Bn | - |
| 7 | Cardinal Health | 64.97 Bn | 48.29 Bn | 2.60 Bn | 3.85% |
| 8 | Humana | 54.10 Bn | -36.68 Bn | 4.83 Bn | 11.74% |
| 9 | Centene | 35.04 Bn | -39.00 Bn | 8.24 Bn | 16.56% |
| 10 | Marpai | 51.68 Mn | 50.85 Mn | 1.02 Mn | 23.15% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 23.15% |
| Jun 30, 2026 | 23.93% |
| Mar 31, 2026 | 27.12% |
| Dec 31, 2025 | 25.73% |
| Sep 30, 2025 | 26.60% |
| Jun 30, 2025 | 16.02% |
| Mar 31, 2025 | 35.70% |
| Dec 31, 2024 | 39.49% |
| Sep 30, 2024 | 28.18% |
| Jun 30, 2024 | 28.03% |
| Mar 31, 2024 | 34.04% |
| Dec 31, 2023 | 34.43% |
| Sep 30, 2023 | 34.80% |
| Jun 30, 2023 | 36.00% |
| Mar 31, 2023 | 33.74% |
| Dec 31, 2022 | 36.91% |
| Sep 30, 2022 | 26.58% |
| Jun 30, 2022 | 25.28% |
| Mar 31, 2022 | 26.89% |
| Dec 31, 2021 | 28.33% |
API Access
Marpai Gross 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=gross-margin&ticker=MRAI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=MRAI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();