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MSAI

MultiSensor AI Holdings, Inc.

MSAI

MultiSensor AI Holdings, Inc. • NASDAQ
$0.64 ▲ 0.17% (+0.00)
Market Cap $20.98 M
52w High $3.33
52w Low $0.46
Dividend Yield 0%
P/E -2.67
Volume 804.12K
Outstanding Shares 32.72M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.574M ▲ $2.369M ▼ $-1.677M ▲ -106.544% ▲ $-0.05 ▲ $-1.346M ▲
Q2-2025 $1.419M ▲ $3.653M ▼ $-3.322M ▲ -234.109% ▲ $-0.099 ▲ $-2.997M ▲
Q1-2025 $1.17M ▼ $5.311M ▲ $-4.436M ▼ -379.145% ▼ $-0.14 ▼ $-4.148M ▼
Q4-2024 $1.4M ▼ $3.852M ▼ $-2.985M ▲ -213.214% ▲ $-0.098 ▲ $-2.837M ▲
Q3-2024 $1.602M $9.744M $-8.195M -511.548% $-0.6 $-8.283M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.164M ▼ $11.871M ▼ $3.592M ▼ $8.279M ▼
Q2-2025 $3.192M ▼ $14.629M ▼ $4.878M ▲ $9.751M ▼
Q1-2025 $4.747M ▲ $16.416M ▲ $3.5M ▲ $12.916M ▲
Q4-2024 $4.358M ▼ $15.478M ▼ $3.19M ▼ $12.288M ▼
Q3-2024 $8.633M $18.892M $3.279M $15.613M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.677M ▲ $-1.803M ▼ $-339K ▲ $-36K ▲ $-2.178M ▼ $-2.142M ▼
Q2-2025 $-3.322M ▲ $-804K ▲ $-485K ▼ $-266K ▼ $-1.555M ▼ $-1.298M ▲
Q1-2025 $-4.436M ▼ $-3.176M ▼ $-420K ▲ $3.985M ▲ $389K ▲ $-3.611M ▲
Q4-2024 $-2.985M ▲ $-3.057M ▲ $-1.067M ▼ $-1K ▼ $-4.125M ▼ $-4.124M ▲
Q3-2024 $-8.195M $-12.699M $-488K $21.586M $8.399M $-13.187M

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q2-2025
Ancillary Services
Ancillary Services
 $0 ▲$0 ▲$0 ▲$0 ▲
Product
Product
 $0 ▲$0 ▲$0 ▲$0 ▲
Technology Service
Technology Service
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement MSAI’s income statement looks like that of a very early‑stage software company. Revenue is extremely small and has not really grown yet, so the business is effectively still pre‑commercial from a financial standpoint. Operating results show consistent losses, reflecting ongoing spending on people, technology, and go‑to‑market with very little offsetting sales. This pattern can be normal for a young tech platform, but it also means the company is far from covering its cost base and remains highly dependent on outside funding and future growth to reach scale.

Balance Sheet

Balance Sheet The balance sheet is very light, with a small asset base and almost no cash reported. Debt has been reduced over time, which lowers financial pressure, but overall capital resources appear thin. Equity has moved from negative to slightly positive, which is directionally better but still signals a fragile financial position. In simple terms, MSAI looks capital‑constrained and does not have a large cushion to absorb missteps or prolonged delays in commercial traction.

Cash Flow

Cash Flow Cash flow reflects an early, investment phase: money is flowing out from operations and not being replenished by meaningful customer receipts. Free cash flow is negative, but investment in physical assets is minimal, so most cash use seems tied to operating costs rather than big capital projects. This keeps fixed obligations lower but also highlights the need for recurring external funding or rapid revenue build‑up to sustain operations over time.

Competitive Edge

Competitive Edge MSAI is aiming at a focused niche within industrial AI and predictive maintenance, rather than trying to compete head‑on with large industrial conglomerates. Its strengths are a sensor‑agnostic, software‑centric platform, deep integration with existing asset management systems, and tailored solutions for specific high‑value use cases like data centers, EV battery manufacturing, and logistics hubs. This specialization and quick return‑on‑value pitch can be compelling. On the other hand, the company competes in a space where very large, well‑funded players also operate, and its small size, limited financial resources, and early commercial stage make scaling, customer acquisition, and long‑term contract wins the key execution risks.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of MSAI’s story. The company focuses on multi‑sensor fusion (thermal, visual, acoustic and more), edge AI processing, and domain‑specific models for industrial reliability and early threat detection. Its platform evolution (such as MSAI Connect 2.0), the split between Early Threat Detection and Reliability Maintenance Engineering, and the CBM Superstore all show active product thinking and an effort to create an ecosystem rather than a single tool. The roadmap into areas like autonomous vehicles, smart agriculture, and robotics suggests ambitious R&D goals. The main question is whether MSAI has enough financial and commercial capacity to fully capitalize on these ideas before competitors close the gap or customer adoption slows.

Summary

Overall, MSAI is an early‑stage, innovation‑driven industrial AI company with a very small revenue base, ongoing losses, and a thin balance sheet. Strategically, it is carving out a differentiated, niche‑focused position in predictive maintenance and early threat detection, backed by credible technical strengths in multi‑sensor AI and edge computing. The opportunity lies in converting strong technology and promising pilot wins into repeatable, scalable, high‑margin software revenue across targeted verticals and geographies. The main risks are execution and funding: limited financial resources, lack of scale, and intense competition from much larger players all heighten uncertainty around how quickly and how far the business can grow from its current starting point.

NEWS

November 13, 2025 · 4:15 PM UTC

MultiSensor AI Announces Third Quarter 2025 Results

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November 4, 2025 · 8:00 AM UTC

MultiSensor AI Holdings, Inc. Announces Pricing of $14.4 Million Registered Direct Offering

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October 24, 2025 · 8:53 AM UTC

MultiSensor AI Holdings, Inc. Announces Pricing of $14 Million Private Placement

Read more