The medtech company listed on the Warsaw Stock Exchange continues to consistently implement its development strategy. In the second quarter of 2025, Medicalgorithmics acquired seven new large customers and entered new markets with its innovative services using advanced AI algorithms. Sales revenue amounted to nearly PLN 7.0 million, an increase of 18% y/y, and the number of tests performed grew by 37% y/y. Revenue from services in the US market, which is key for the company, increased by 56% y/y. Due to record interest in DRAI and DRP and integration with one of the largest IDTFs in the US, the Management Board of Medicalgorithmics expects further gradual revenue growth in the coming quarters of this year. In July and August alone, revenues grew by 33% and 30%, respectively, according to the company’s estimates. Since the beginning of 2025, the company has already signed 17 new contracts, including 4 in the US, compared to a total of 13 and 5 in the US in 2024, respectively.
– In the second quarter of this year, we continued to pursue our chosen direction and achieve our goals. We signed seven new contracts, including the first one for our innovative VCAST platform. This allowed us to achieve double-digit revenue growth. We are particularly pleased with the intense development on the US market. In the last quarter, we recorded a 56% increase in revenue from this market, and in the first half of the year, it grew by as much as 129%. These figures show how much potential there is in the United States, and this is just the beginning. However, we expect significantly higher growth in the second half of the year. In July-August this year, our sales grew by approximately 32% year-on-year. We expect similar dynamics in September – says Dr. Kris Siemionow, President of the Management Board of Medicalgorithmics.
In Q2 2025, Medicalgorithmics generated PLN 7.0 million in consolidated revenue, compared to PLN 5.9 million in the same period last year. This represents an increase of 18% y/y and 3% compared to Q1 this year. The global market (outside the US) generated PLN 4.7 million in revenue during the period, including PLN 4.3 million from services. These figures confirm the implementation of the strategy, under which the company focuses on the sale of AI algorithms and diagnostic software with the highest margins. In the reporting period, Medicalgorithmics performed nearly 97,000 ECG tests, which represents a 5% increase quarter-on-quarter and nearly 37% year-on-year.
– In July, we completed the integration of our DRP platform at one of the top American IDTFs, and in September we also implemented an update that resulted in a 118% increase in the daily number of tests. What is more, according to our estimates, this update may lead to monthly revenues from this contract reaching a minimum of USD 300,000 as early as the fourth quarter of this year. These activities and subsequent integrations allow us to expect double-digit revenue growth in the coming months and quarters and to achieve positive cash flow from operating activities at the turn of 2025 and 2026. – adds Dr. Kris Siemionow, CEO of Medicalgorithmics.
Since the beginning of this year, the medtech company listed on the Warsaw Stock Exchange has been growing dynamically, acquiring new customers and activating existing ones. The company has signed a record number of contracts (17 – more than in the whole of 2024), which has translated into a significant increase in its share price. Since the beginning of the year, the company has doubled its value, becoming one of the best investments on the Warsaw Stock Exchange in 2025. Among the new contracts, in addition to the aforementioned American users of Medicalgorithmics technology, there is also: an agreement with a European IDTF, an agreement with an American deep-tech company specializing in the integration of advanced materials, sensors, and artificial intelligence, and the first two commercial agreements for VCAST – on the Turkish market and the strategic Scandinavian market.