{"url_path":"/sec/mrai/10-q/2026/item-1a","section_key":"item-1a","section_title":"Item 1A Risk Factors.**","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1844392/0001213900-26-057777-index.html","accession_number":"0001213900-26-057777","cik":"0001844392","ticker":"MRAI","issuer_name":"Marpai, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1844392/0001213900-26-057777-index.html","primary_entity_key":"0001844392","primary_entity_name":"Marpai, Inc."},"word_count":473,"has_tables":true,"body_markdown":"**Item\n1A. Risk Factors.**\n\n \n\nIn\naddition to the other information set forth in this report, you should carefully consider the factors discussed below and in Part I,\n“Item 1A. Risk Factors” in our 2025 Annual Report, which could materially affect our business, financial condition or future\nresults.\n\n \n\n**Currently,\nour revenues are concentrated with a few major customers and our revenues may decrease significantly if we were to lose those major customers.**\n\n \n\nDue to our limited operating history, we have a limited\ncustomer base and have depended on a few major customers for a significant portion of our revenue. For the three month periods ended March\n31, 2026 and 2025, we had no single customer that accounted for more than 10% of total revenue. At March 31, 2026, one customer accounted\nfor 10.1% of accounts receivable. As of December 31, 2025, two customers accounted for 19.5% and 19.1% of accounts receivable.\n\n \n\nIf\nour major customers were to terminate their agreement with us, or if we fail to adequately perform under our agreement, and if we are\nunable to diversify our customer base, our revenue could decline, and our results of operations could be adversely affected.\n\n \n\n**We\nare reviewing strategic alternatives and there can be no assurance that we will be successful in identifying or completing any strategic\ntransaction, that any such strategic transaction will result in additional value for our stockholders or that the process will not have\nan adverse impact on our business.**\n\n \n\nThe\nprocess of reviewing strategic alternatives may be costly, time consuming and disruptive to our business operations and, if we are unable\nto effectively manage the process, our business, financial condition and results of operations could be adversely affected. We may incur\nsignificant costs associated with identifying, evaluating and negotiating potential strategic alternatives, such as legal, financial\nadvisor and accounting fees and expenses and other related charges. We may also incur additional unanticipated expenses in connection\nwith this process. A considerable portion of these costs will be incurred regardless of whether any such course of action is implemented\nor transaction is completed, decreasing cash available for use in our business.\n\n \n\nThere\ncan be no assurance that any potential transaction, or series of transactions, or other strategic alternative, if found and if consummated,\nwill provide greater value to our stockholders than that reflected in the current price of our common stock. Until the review process\nis concluded, perceived uncertainties related to our future may impact our business performance and volatility in the market price of\nour common stock and may make it more difficult for us to attract and retain qualified personnel and key employees. Our Board has not\nset a timetable for the conclusion of this review, nor has it made any definitive decisions related to taking any further actions or\npotential strategic options at this time or at all."}