Medicalgorithmics recorded a 38% year-on-year increase in revenue in the third quarter of this year, continuing its strong growth trajectory. The company generated nearly PLN 7.2 million in sales revenue last quarter, including PLN 2.2 million solely from the U.S. market, which saw a 76% YoY increase. Since the beginning of 2025, Medicalgorithmics has signed 19 contracts with new clients. These agreements, including one with one of the largest Independent Diagnostic Testing Facilities (IDTF) in the United States, are already contributing to results, and the company expects further revenue growth from their execution in Q4 and throughout 2026.
“The revenue momentum achieved in Q3 is just the beginning. We are working on integrating new contracts, negotiating additional agreements, and expanding cooperation with one of the largest IDTFs in the U.S., which has so far proven to be the most fruitful. In September, we deployed an update that increased the daily number of examinations carried out by the IDTF by 118%. As a result, in 2026 we can expect similar or even higher growth rates,” said Dr. Kris Siemionow, CEO of Medicalgorithmics.
In the third quarter of 2025, Medicalgorithmics reported consolidated revenues of PLN 7.2 million, up from PLN 5.2 million in the same period last year. This represents a 38% year-on-year increase and a 3% rise compared to Q2 2025. The U.S. market brought in PLN 2.2 million in revenue, growing at 76% year-on-year. These figures confirm the successful execution of the company’s strategy centered on the sale of high-margin AI algorithms and diagnostic software. During the reporting period, Medicalgorithmics conducted nearly 97,000 ECG tests, marking a 33% increase year-on-year.
“Last quarter was highly successful in terms of the quality of partnerships initiated, and the ongoing fourth quarter is even more intensive. We have signed a contract with one of the largest IDTFs in the UK for our proprietary AI algorithms and ECG analysis platform. In addition, we have partnered with a leading healthcare company in Saudi Arabia and the MENA region to deliver our VCAST solution. The potential of this technology is evidenced, among other things, by a new study we recently initiated in collaboration with Lund University in Sweden. VCAST will be used to analyze data from over 30,000 participants. This will provide significant validation of the effectiveness of our proprietary technology,” added Dr. Siemionow.
In early November, the company announced the launch of a groundbreaking research collaboration with the leading medical university in Lund, Sweden. The goal of the initiative is to create the world’s largest dataset on heart function using artificial intelligence and to establish a new global standard in non-invasive cardiac diagnostics using the Virtual Cardiac Stress Test (VCAST). The project assumes the use of the VCAST platform to analyze data from the SCAPIS study – one of the most comprehensive cardiovascular imaging projects in the world, involving over 30,000 individuals.
Since the beginning of the year, the Warsaw Stock Exchange-listed medtech has been rapidly developing, securing new clients and activating existing ones. The company has signed a record 19 contracts (more than in all of 2024), resulting in a significant rise in its share price. Since the start of 2025, the company has doubled its market value, making it one of the best investments on the Warsaw Stock Exchange this year. In addition to agreements with American users of Medicalgorithmics technology, new contracts include partnerships with European and UK-based IDTFs, an agreement with a U.S. deep-tech company specializing in advanced materials, sensors, and artificial intelligence, as well as the first three commercial agreements for VCAST in the Turkish, Arab, and key Scandinavian markets.
Source: CEO.com.pl – [Medicalgorithmics increases revenue by 38% in Q3, driven by strong U.S. performance]
