Marpai (MRAI) Shares Outstanding (2020 - 2026)
Marpai (MRAI) recorded Weighted Average Shares Outstanding of 26.83 million in Q3 2026, up 55.1% from 17.3 million a year earlier and up 3.7% from the prior quarter.
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Analysis
Marpai (MRAI) Shares Outstanding (2020 - 2026) Analysis & Trends
For FY2025, Marpai reported Weighted Average Shares Outstanding of 17.37 million, up 50.9% from FY2024.
- Annual Weighted Average Shares Outstanding has increased for five straight years, with a five-year compound annual growth rate of 95.6% (FY2020 to FY2025).
- Across earlier years, Weighted Average Shares Outstanding came in at 11.51 million in FY2024 (+65.6%), 6.95 million in FY2023 (+37.4%), 5.06 million in FY2022 (+100.9%) and 2.52 million in FY2021 (+314.9%).
- The Q3 2026 figure is the highest quarterly Weighted Average Shares Outstanding in data going back to Q3 2020.
- On a year-over-year basis, Weighted Average Shares Outstanding has increased for 21 consecutive quarters, with growth averaging 56.5% over the last eight quarters.
- Across the past five years, year-over-year growth in Weighted Average Shares Outstanding ran from 7.8% in Q1 2023 to 577.5% in Q1 2022.
- Per Business Quant, the preceding three quarters came in at 25.86 million (Q2 2026), 24.68 million (Q1 2026) and 17.37 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 365.22 Bn | 251.88 Bn | 35.71 Bn | 897.00 Mn |
| 2 | Mckesson | 127.33 Bn | 111.26 Bn | 3.96 Bn | 116.30 Mn |
| 3 | Cvs Health | 114.34 Bn | 63.29 Bn | 47.21 Bn | 1.28 Bn |
| 4 | Elevance Health | 92.86 Bn | -49.61 Bn | 13.65 Bn | 216.60 Mn |
| 5 | Cigna | 78.25 Bn | 47.45 Bn | 15.09 Bn | 262.79 Mn |
| 6 | Cencora | 68.51 Bn | 68.51 Bn | 3.60 Bn | 193.15 Mn |
| 7 | Cardinal Health | 64.97 Bn | 48.29 Bn | 2.60 Bn | 232.00 Mn |
| 8 | Humana | 54.10 Bn | -36.68 Bn | 4.83 Bn | 120.09 Mn |
| 9 | Centene | 35.04 Bn | -39.00 Bn | 8.24 Bn | 493.12 Mn |
| 10 | Marpai | 51.68 Mn | 50.85 Mn | 1.02 Mn | 26.83 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 26.83 Mn |
| Jun 30, 2026 | 25.86 Mn |
| Mar 31, 2026 | 24.68 Mn |
| Dec 31, 2025 | 17.37 Mn |
| Sep 30, 2025 | 17.30 Mn |
| Jun 30, 2025 | 15.50 Mn |
| Mar 31, 2025 | 14.77 Mn |
| Dec 31, 2024 | 11.51 Mn |
| Sep 30, 2024 | 12.04 Mn |
| Jun 30, 2024 | 10.63 Mn |
| Mar 31, 2024 | 9.41 Mn |
| Dec 31, 2023 | 6.95 Mn |
| Sep 30, 2023 | 7.48 Mn |
| Jun 30, 2023 | 6.84 Mn |
| Mar 31, 2023 | 5.29 Mn |
| Dec 31, 2022 | 5.06 Mn |
| Sep 30, 2022 | 5.09 Mn |
| Jun 30, 2022 | 4.96 Mn |
| Mar 31, 2022 | 4.91 Mn |
| Dec 31, 2021 | 2.52 Mn |
API Access
Marpai Shares Outstanding 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=shares-outstanding&ticker=MRAI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding", "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=shares-outstanding&ticker=MRAI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();