Marpai (MRAI) Net Margin (2021 - 2026)
Marpai's Net Margin came in at -77.94% for Q3 2026, up 8.61 percentage points from -86.55% a year earlier and up 32.07 percentage points from the prior quarter.
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Analysis
Marpai (MRAI) Net Margin (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Marpai reported Net Margin of -99.03%, down 40.63 percentage points year-over-year; for FY2025, it came in at -91.50%, down 13.10 percentage points from FY2024.
- Net Margin carries a four-year change of +20.86 percentage points (FY2021 to FY2025).
- Going back by year, Net Margin was -78.40% in FY2024 (-1.02 pp), -77.38% in FY2023 (+31.35 pp), -108.74% in FY2022 (+3.62 pp) and -112.36% in FY2021.
- The five-year range for quarterly Net Margin is -181.19% (Q2 2024) to -17.54% (Q4 2024).
- Year-over-year, Net Margin increased in four of the last eight quarters, with an average year-over-year change of -6.56 percentage points.
- The fastest year-over-year change in Net Margin over five years came in Q2 2025 (a gain of 87.31 percentage points), and the weakest in Q4 2025 (a drop of 123.53 percentage points).
- Business Quant data shows MRAI's Net Margin at -110.01% (Q2 2026), -72.01% (Q1 2026) and -141.07% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 365.22 Bn | 251.88 Bn | 35.71 Bn | 3.65% |
| 2 | Mckesson | 127.33 Bn | 111.26 Bn | 3.96 Bn | 1.10% |
| 3 | Cvs Health | 114.34 Bn | 63.29 Bn | 47.21 Bn | 2.00% |
| 4 | Elevance Health | 92.86 Bn | -49.61 Bn | 13.65 Bn | 2.65% |
| 5 | Cigna | 78.25 Bn | 47.45 Bn | 15.09 Bn | 1.96% |
| 6 | Cencora | 68.51 Bn | 68.51 Bn | 3.60 Bn | - |
| 7 | Cardinal Health | 64.97 Bn | 48.29 Bn | 2.60 Bn | 0.82% |
| 8 | Humana | 54.10 Bn | -36.68 Bn | 4.83 Bn | 0.39% |
| 9 | Centene | 35.04 Bn | -39.00 Bn | 8.24 Bn | -2.21% |
| 10 | Marpai | 51.68 Mn | 50.85 Mn | 1.02 Mn | -77.94% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -77.94% |
| Jun 30, 2026 | -110.01% |
| Mar 31, 2026 | -72.01% |
| Dec 31, 2025 | -141.07% |
| Sep 30, 2025 | -86.55% |
| Jun 30, 2025 | -93.88% |
| Mar 31, 2025 | -56.64% |
| Dec 31, 2024 | -17.54% |
| Sep 30, 2024 | -50.80% |
| Jun 30, 2024 | -181.19% |
| Mar 31, 2024 | -58.85% |
| Dec 31, 2023 | -57.74% |
| Sep 30, 2023 | -83.58% |
| Jun 30, 2023 | -75.21% |
| Mar 31, 2023 | -91.74% |
| Dec 31, 2022 | -111.87% |
| Sep 30, 2022 | -117.05% |
| Jun 30, 2022 | -119.95% |
| Mar 31, 2022 | -88.28% |
| Dec 31, 2021 | -97.16% |
API Access
Marpai Net 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=net-margin&ticker=MRAI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=MRAI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();