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Aiforia signs new clinical account in France

AIFORIAAnalyst Comment19.05.2025, 13.45
Antti Luiro, Frans-Mikael Rostedt
Discuss

Translation: Original published in Finnish on 5/19/2025 at 2:14 pm EEST.

Nantes University Hospital will deploy Aiforia's software in clinical diagnostics. The value of the two-year agreement was not communicated in the release. Nantes is the sixth largest university hospital in France, and its catchment area has a population of 800,000. Based on this and the value of Aiforia's previous customer relationships, we estimate that the customer relationship corresponds to less than EUR 100,000 in annual revenue in the initial phase. According to the release, the agreement only includes a part of the company's image recognition models, so the customer relationship has potential for expansion already with the company's current product portfolio. 

This is Aiforia's second clinical segment agreement in France, where the Assistance Publique - Hôpitaux de Paris (AP-HP hospital group) adopted Aiforia in 2024. Although the now-announced agreement is relatively small in size, it still sends a good message about the company's market position and the pace at which the market is forming. The release supports our forecasts of strong revenue growth but does not create pressure for forecast changes.

Aiforia Technologies equips pathologists and researchers in preclinical and clinical laboratories with software to translate images into discoveries, decisions and diagnoses. The company's products and services are used for medical image analysis, across a variety of fields such as oncology and neuroscience. Aiforia Technologies is headquartered in Finland.

Read more on company page

Key Estimate Figures23.04.2025

202425e26e
Revenue2.94.77.6
growth-%18.9 %65.7 %60.0 %
EBIT (adj.)-12.2-11.9-12.0
EBIT-% (adj.)-427.8 %-252.9 %-158.1 %
EPS (adj.)-0.41-0.37-0.38
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.neg.neg.
EV/EBITDAneg.neg.neg.

Forum discussions

Of course, insiders know a lot more about the company than the market does. This is even more pronounced in “sausage stand” companies like these...
37 minutes ago
0
The board chair’s one-million-euro investment in the offering would support this view. The other option, of course, is that the motive for said...
3 hours ago
by Puutaheinää
11
This important and politely presented question from Jussi remains unanswered. I am also wondering what information was given to those who participated...
yesterday
21
Well, that really just depends on what on earth is happening at the company—whether something positive is also going on, or if it’s just a total...
7/24/2026, 8:02 PM
by JusaVaan
7
How many of you who have invested in this still believe the share price could recover even to the 1.7–1.8€ valuation we saw a couple of weeks...
7/24/2026, 7:58 PM
by Zamboni
0
I would agree with this if it weren’t clearly a so-called once-a-year practice, as it is now.
7/24/2026, 12:07 PM
by Perttu Hämäläinen
8
This post was flagged by the community and is temporarily hidden.
7/24/2026, 11:40 AM
1