MSAI on Nasdaq

MultiSensor AI Holdings, Inc.

American optical instruments and lenses company based in Beaumont. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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  • TickerMSAI on Nasdaq1
  • IndustryOptical Instruments & Lenses1
  • HeadquartersHouston, Texas1
  • Incorporated inDE2
  • Business address24 Greenway Plaza, Ste 1800, Houston, Tx 770462
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company2
  • Legal formCorporation

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-216.4%Operating margin3
-211.0%Net margin3
-25.0%Revenue growth, 20253
-36.6%Return on equity3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 58% of the revenue MultiSensor AI Holdings, Inc. broke down this way in fiscal 2025.

  1. Product$3.2M358%down 44% from 2024
  2. Technology Service$1.9M334%up 88% from 2024
  3. Ancillary Services$453.0K38%down 36% from 2024
Products and services by year
Products and services20242025
Product$5.7M$3.2M
Technology Service$1.0M$1.9M
Ancillary Services$705.0K$453.0K

Regions

United States brought in 68% of the revenue MultiSensor AI Holdings, Inc. broke down this way in fiscal 2025.

  1. United States$3.8M368%down 36% from 2024
  2. Outside the United States$1.8M332%up 14% from 2024
Regions by year
Regions20242025
United States$5.8M$3.8M
Outside the United States$1.6M$1.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin100¢$11.5M
  • Income tax0¢$32.0K

Out of $5.6M in revenue.3 The company lost money this year.

Financial statements

Revenue453$5.6M in 2025−24% since 2022
0$2.0M$4.0M$6.0M$8.0M2022: $7.3M$7.3M20222023: $5.4M$5.4M2023−25%2024: $7.4M$7.4M2024+36%2025: $5.6M$5.6M2025−25%
Operating income453-$12.0M in 2025−0% since 2022
-$30.0M-$20.0M-$10.0M02022: -$12.0M-$12.0M20222023: -$21.5M-$21.5M2023+79%2024: -$18.9M-$18.9M2024−12%2025: -$12.0M-$12.0M2025−36%
Net income453-$11.7M in 2025−12% since 2022
-$30.0M-$20.0M-$10.0M02022: -$13.3M-$13.3M20222023: -$22.3M-$22.3M2023+68%2024: -$21.5M-$21.5M2024−3%2025: -$11.7M-$11.7M2025−46%

Every line of the income statement as filed: the last 2 fiscal years, latest first.3

Period ending2025-12-312024-12-31
Revenue, net$5.6M$7.4M
Cost of goods sold (exclusive of depreciation)$2.6M$2.6M
Inventory impairment$511.0K$2.3M
Selling, general and administrative$11.5M$15.7M
Share-based compensation expense$1.7M$3.4M
Depreciation$1.3M$1.1M
Loss (gain) on asset disposal-$33.0K$322.0K
Other loss$0$930.0K
Total operating expenses$14.4M$21.4M
Operating loss-$12.0M-$18.9M
Interest expense (income), net-$77.0K$63.0K
Change in fair value of convertible notes$0$475.0K
Change in fair value of warrants liabilities$0-$39.0K
Loss on financing transaction$0$1.6M
Other expense (income), net-$189.0K$1.0M
Total income (or loss) before income tax expense (or benefit)-$11.7M-$22.0M
Income tax expense (benefit)-$32.0K-$465.0K
Net loss-$11.7M-$21.5M
Basic (in shares)37.3M shares20.1M shares
Diluted (in shares)37.3M shares20.1M shares
Basic (in dollars per shares)-$0.31-$1.07
Diluted (in dollars per shares)-$0.31-$1.07

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Leadership

Who has led MultiSensor AI Holdings, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. David Gow2021–2023
  2. Stuart Flavin V.2025
  3. Asim Akram2025–now

President

  1. Steven Winch2023–2024
  2. Stuart Flavin V.2025–now

Chief financial officer

  1. Jacob Swain2021
  2. Peter W. Baird2023–2024
  3. Robert Nadolny2025–now
2025
Board members and other officers (12)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerGary Strahan named Jul 10, 202426

Former names

  • Infrared Cameras Holdings, Inc.Dec 4, 2023 to Feb 9, 20242
  • Sportsmap Tech Acquisition Corp.Jul 22, 2021 to Dec 19, 20232

Timeline

  1. Jul 3, 2025New chief executive Asim Akram becomes CEO10
  2. Feb 7, 2025New chief executive Stuart Flavin V. becomes CEO9
  3. Oct 18, 2021New chief executive David Gow becomes CEO11

Filings

372 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 63 major events, 107 insider forms, 28 large holders, 2 private raises, 152 other. The latest 20:

  1. Oct 2, 20264 OWNERSHIP DOCUMENT EDGAR
  2. Oct 2, 20264 OWNERSHIP DOCUMENT EDGAR
  3. Oct 2, 20264 OWNERSHIP DOCUMENT EDGAR
  4. Oct 2, 20264 OWNERSHIP DOCUMENT EDGAR
  5. Oct 2, 20264 OWNERSHIP DOCUMENT EDGAR
  6. Aug 13, 202610-Q EDGAR
  7. Aug 13, 20268-K EDGAR
  8. Jul 20, 20264 OWNERSHIP DOCUMENT EDGAR
  9. Jul 20, 20268-K EDGAR
  10. Jul 20, 20264 OWNERSHIP DOCUMENT EDGAR
  11. Jul 2, 20264 OWNERSHIP DOCUMENT EDGAR
  12. Jul 2, 20264 OWNERSHIP DOCUMENT EDGAR
  13. Jul 2, 20264 OWNERSHIP DOCUMENT EDGAR
  14. Jul 2, 20264 OWNERSHIP DOCUMENT EDGAR
  15. Jul 2, 20264 OWNERSHIP DOCUMENT EDGAR
  16. Jun 18, 20268-K EDGAR
  17. Jun 9, 2026DEFA14A EDGAR
  18. May 13, 202610-Q EDGAR
  19. May 13, 20268-K EDGAR
  20. May 11, 2026SCHEDULE 13G/A EDGAR

The 372 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

13 open-market trades by officers, directors and large owners since October 2021: 1 buys and 12 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 28, 2025Strahan Gary Eugene10% ownerSale42,775$0.78$33.4KForm 4
Jul 21, 2025Strahan Gary Eugene10% ownerSale89,265$0.75$66.9KForm 4
Jul 18, 2025Strahan Gary Eugene10% ownerSale34,959$0.75$26.2KForm 4
Jul 17, 2025Strahan Gary Eugene10% ownerSale363$0.81$294Form 4
Jul 7, 2025Strahan Gary Eugene10% ownerSale26,969$0.67$18.1KForm 4
Jun 23, 2025Strahan Gary Eugene10% ownerSale76,711$0.55$42.2KForm 4
Jun 20, 2025Strahan Gary Eugene10% ownerSale21,470$0.66$14.2KForm 4
Jun 12, 2025Strahan Gary Eugene10% ownerSale8,350$0.74$6.2KForm 4
Jun 10, 2025Strahan Gary Eugene10% ownerSale7,000$0.72$5.0KForm 4
Jun 9, 2025Strahan Gary Eugene10% ownerSale20,000$0.72$14.4KForm 4
Jun 4, 2025Strahan Gary Eugene10% ownerSale3,500$0.80$2.8KForm 4
Jun 3, 2025Strahan Gary Eugene10% ownerSale3,000$0.81$2.4KForm 4
Oct 21, 2021SportsMap, LLC10% ownerBuy540,000Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Oct 24, 2025Raised $14 million in a private offering of equity Form D: 32 investors so far Form D
  2. Jul 1, 2024Raised $15 million in a private offering of equity Form D: 5 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
325 Capital LLC662,244$3.5M0.8%New
Bleichroeder LP30,562$159.2K0.0%New
Vanguard Capital Management LLC21,622$112.7K0.0%New
Vanguard Fiduciary Trust Co5,870$30.6K0.0%New
Tower Research Capital LLC (TRC)1,756$9.1K0.0%New
Barclays PLC1,751$9.1K0.0%New
UBS Group AG1,316$6.9K0.0%New
SBI Securities Co., Ltd.265$1.4K0.0%−35,349
Chilton Capital Management LLC187$9750.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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