Medicalgorithmics, a Warsaw Stock Exchange-listed leader in cardiac diagnostic software, has published its preliminary revenue results for the second quarter of 2025. The Polish medtech company increased its revenues by 17.6% year-over-year. According to the Management Board, Medicalgorithmics is entering a phase of dynamic growth, fueled by record interest in its innovative AI-based software, which gained global recognition in the prestigious Nature Medicine journal. Since the beginning of 2025, Medicalgorithmics has signed 12 new client agreements, including two in the U.S. market. These new contracts are already contributing to Q2 results, and the company anticipates increased monetization of these agreements in the coming quarters.
“We are pleased not only with the growth in revenue, but also with its structure. We are seeing a clear rise in high-margin, recurring software revenues. We are also beginning to generate recurring income from new contracts, including one of our most significant U.S. deals,” said Dr. Kris Siemionow, CEO of Medicalgorithmics. “The preliminary figures confirm the effectiveness of our growth strategy and indicate that we are entering a period of dynamic expansion, driven by sales of our world-class, AI-powered software.”
As of June 30, 2025, the Group’s estimated revenue for Q2 totaled approximately PLN 6.95 million, marking a 17.6% year-over-year increase. Software-related revenues – Medicalgorithmics’ core business segment – rose by 20% YoY to PLN 6.5 million. The strongest growth was recorded in the U.S. market, where recurring software revenues grew by 136% YoY.
“Thanks to successful customer integrations in the U.S. in 2024 and new contracts signed this year – which have not yet entered the monetization phase but will do so in Q3 and Q4 – we expect further dynamic growth in recurring revenues and the number of ECG sessions. Growth in the latter drives both revenue and the reputation of our software. The increasing number and scale of DRAI and DRP implementations will enhance our competitive advantage and open up further promising partnership opportunities across global markets,” added Dr. Siemionow.
The year 2025 has brought significantly increased interest in Medicalgorithmics’ products and a faster pace in acquiring new clients. Since the beginning of the year, the company has signed 12 new contracts with partners from the U.S., Australia, Canada, Turkey and several European countries. By comparison, the Group signed a total of 13 new client agreements throughout all of 2024. Most of those contracts are still in the implementation phase, but according to the Management Board, they are expected to be monetized in the upcoming quarters.
All financial data presented above are preliminary estimates and may be subject to change following the completion of the Q2 2025 quarterly report.