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Analyst Comment

Aiforia's product portfolio expands with new CE-IVD approved solution for breast cancer diagnostics

Aiforia Technologies

Translation: Original published in Finnish on 6/24/2025 at 1:41 pm EEST.

Aiforia announced a new CE-IVD marking for its clinical AI solution for breast cancer classification. According to the company, the approved AI solution automates breast cancer classification by supporting pathologists with five separate AI models. The solution accurately identifies invasive carcinoma and ductal carcinoma in situ variant (DCIS). In addition, it identifies and objectively counts the number of mitoses, tubule formation, and nuclear atypia according to the Nottingham classification system. Prior to the now approved solution, Aiforia already had four models supporting breast cancer diagnostics (KI-67, ER and PR cells, HER-2 classification).

This solution is Aiforia's ninth to receive CE-IVD approval in Europe. However, unlike previous approvals, the solution includes five separate AI models, so the approval significantly expands the company's product portfolio (8 models + 1 viewer -> 13 models + 1 viewer). The approval increases the potential scale of the company's new customer agreements and also enables larger expansions for existing customers. The release supports our view that the company's revenue growth will accelerate during the current year, as well as supporting the company's competitive position in a rapidly emerging market. 

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

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

Question: Scanners have been a bottleneck for customers. Will Aiforia in any way support its customers in the scanner procurement process (e...
31 minutes ago
by Matti
2
Questions: Sales efficiency, i.e., LTV growth, but how does this scalability efficiency factor develop? (Scalable SaaS company: customer value...
59 minutes ago
by Pekka
5
Tomorrow, Aiforia will participate in Inderes’ company evening, which includes the company’s presentation and a Q&A session. Questions can be...
1 hour ago
by Antti Siltanen
10
When one really doesn’t want to trust only the company’s own announcements… Inderes, of course, also hypes it up, but but.. a feather in their...
yesterday
by Zen65
8
This case study published on Aiforia’s website at the end of November was interesting. In this study, a deep learning model created and trained...
yesterday
by 1sarvinen
21
Should this be updated, as it was already the same in 01.2024. One could reach a profit with about 20 million in revenue, which is “only” 6 ...
yesterday
by Zen65
1
As I recall, the CEO expects 27 items to turn positive regarding operating profit.
12/5/2025, 5:01 PM
by Uuno
3
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