Medicalgorithmics S.A., the developer of globally innovative AI algorithms and ECG analysis platforms, has closed the first quarter of 2026 with estimated consolidated sales revenue of PLN 10.2 million, representing a year-on-year increase of 51%. The Company also reported a positive estimated EBITDA of PLN 1.0 million. In the previous quarter, the Company signed three new contracts and expanded one of its existing partnerships to include, amongst other things, the distribution of VCAST technology.
– The results recorded in the last quarter demonstrate the full effectiveness and efficiency of the business model we have developed. We achieved results comparable to those of the record-breaking Q4 2025, despite operating in a highly unfavourable environment. In January, the United States faced freezing temperatures not seen in decades, which had a negative impact on the number of sessions completed. Furthermore, the war in Iran, which began in March, caused delays in negotiations for new contracts and in sales of the Kardiobeat.ai device. This reinforces our belief that the results shown are repeatable, and that the coming quarters should be characterised by very strong growth momentum whilst maintaining the current pace of development – comments Dr Kris Siemionow, CEO of Medicalgorithmics.
In the first quarter of 2026, Medicalgorithmics reported consolidated revenue of PLN 10.2 million, compared with PLN 6.8 million in the same period last year. This represents a year-on-year increase of 51%. The US market generated PLN 4.7 million in revenue for the company, recording growth of 105%. These figures confirm the success of the strategy under which the company focuses on the sale of AI algorithms and diagnostic software with the highest margins. During the reporting period, Medicalgorithmics conducted over 112,000 ECG examinations.
– In addition to fulfilling the contracts we have already secured, including one with one of the largest US IDTFs, we are continuing to secure new contracts. Last quarter, we secured three new clients, including our first from South America. We expect to sign two to three new contracts per quarter this year – adds Dr Kris Siemionow.
In early January, the ECG industry innovator entered into a partnership with the US-based IDTF – CardioDiagnostics, which specialises in solutions for cardiac care, with a focus on heart monitoring and remote diagnostics via cloud-based software and devices for clinical electrocardiographic monitoring. Under the agreement, the Company will supply the partner with innovative AI algorithms for ECG analysis – DeepRythm AI (DRAI). Shortly afterwards, a groundbreaking partnership was established with Sharp Tech from Peru, marking the Company’s debut in the Latin American region. In March this year, the Company signed an agreement with South Korea’s Seers Technology – the software and algorithms will be integrated into the partner’s hardware. The company also signed an addendum to its agreement with its Israeli partner, under which the distributor will expand its offering to include, among other things, the innovative VCAST technology and an order for additional Kardiobeat.ai devices worth over PLN 650,000.