contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


aiforia-technologies-potential-starting-weigh-more-risks

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Head of Nordic ER Development, Analyst

Antti Luiro

Analyst

Frans-Mikael Rostedt

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.

Hospitalia, le magazine de l'hôpital pour toute l'actualité et l'information...              Le CHU de Nantes franchit le cap du numérique en anatomie pathologique    Le CHU de Nantes vient de franchir une étape décisive dans la transformation numérique de ses pratiques en anatomie pathologique. Depuis le 10 septembre 2025, le service d’anatomie pathologique numérise ses lames et les pathologistes les interprètent...                             Nantes University Hospital (CHU de Nantes) has just taken a decisive step in the digital transformation of its pathology practices. Since September 10, 2025, the pathology department has been digitizing its slide samples, and pathologists interpret them directly on computers using an image management system. This significant technological advancement enables better cancer diagnosis through AI and promotes inter-institutional collaboration in the region. The contract signed in May has started to bear fruit as of September 10, 2025, meaning it should already be reflected in the H2 figures.

The gradually departing CFO Parkkonen made a €27,448 addition to Aiforia’s capital by exercising options he received before his departure: Volume: 20,000 Average price: 1.3724 EUR. Aiforia Technologies Oyj – Johdon liiketoimet – Veli-Matti Parkkonen - Inderes For example, in the 2024 option program Aiforia Technologies Oyj:n hallitus on päättänyt uudesta optio-ohjelmasta - Inderes the subscription price is 3.94 euros per share. It’s easy to understand why the subscription period was just extended. There is no information on which program Parkkonen’s 1.3724 € is from. Parkkonen stated in a NuWays interview in 11/25 that ”we expect 26-27 is really going to be the turning point of this market…revenue really jump up those days”. We’ll see if he believes in his own message enough to keep his shares or if he has other uses for the money. That is easy to track, since even 20,000 shares will put you on the shareholder watch list. Will he clear the table, though, now that his vantage point is gone? The reason for Parkkonen’s departure has not yet been clarified, such as a potential better position elsewhere. I don’t know if he’s CEO material; he was quite eager to comment on things on Jukka’s behalf in webcasts, or perhaps he was filling in as agreed. Among Finnish stock exchange biotechs, at least Bioretec is currently without a permanent CEO. I’m not suggesting an appointment, as I don’t know him… Is the timing of the latest directed issue and the fact that the proceeds fell short of at least Inderes’ expectations considered part of the CFO’s domain? Tenkanen, after all, had to/got to chip in beyond his commitment. You certainly can’t blame the CFO for the current sentiment around small caps. Well, that too will change; Heikkilä at least predicted in the latest H&V, via Proprius, that Germany’s stimulus, e.g., regarding digitalization, will reflect on Finland (he didn’t mention companies by name), and Mika and Sauli believe a surprise might be brewing in small caps in '26-27 https://www.inderes.fi/videos/joulujakso-2025-or-heikkila-and-vilen-show-9044:50. Aiforia hasn’t reported deals from Germany yet, I think, but Siemens Healthcare and Epredia as partners might produce something in Germany. The new CFO Ojala interestingly links back to the management M&A connections I’ve mentioned before: ”Ojala has previous experience in financial management from health technology and diagnostics companies such as Mobidiag Oy”.

What is the final result when you combine the strong growth outlook of AI with a conservative industry and its inherent sluggishness?                    pathologynews.com              Digital Pathology Market Growing at 9.9% CAGR to 2031 as AI Adoption...    /PRNewswire/ -- According to Mordor Intelligence, the digital pathology market is valued at USD 2.01 billion in 2026, and is projected to surpass USD 3.2...                             Digital pathology is thus growing at about triple the speed of the rest of the economy. It was noted that North America is ahead in the digital pathology market. Commentary: Regulation in Europe has been more favorable so far, but there is obviously more money in the States, and acquiring equipment like scanners likely isn’t a bottleneck as it is for the “poor Europeans.” Aiforia has already announced partnership agreements in the US—Mayo, Paige, Path Presenter—and 25% of revenue in H1/25 came from the States. And they already have a subsidiary there. The weakened dollar exchange rate will likely cause temporary pressure on revenue in euros until the rate turns around, provided the “toxic” economic environment also turns. If the CAGR is 9.9% on average and Aiforia grows even faster than others in Europe—meaning they win contracts—things are looking good. This is supported by:  An average floor level of 9.9% provides some security, although it’s not “enough” for an investor if we only followed the market. Nuways’ 65% would lead to a revenue of EUR 50 million if continued until 2030, assuming a base of EUR 4 million in 2025—not the EUR 100 million Aiforia previously targeted. Inde [Inderes] forecasts EUR 30 million. EUR 50 million would be good too. Based on current outlooks, growth is exponential, meaning the start seems even too sluggish and accelerates as infrastructure is built at customer sites, the number of models increases, and invoicing ramps up following deployment. Aiforia could get a boost from the predicted small-cap boom in 2026-2027. Funding pressures naturally have an impact, and the expected conversion of orders into revenue will likely materialize gradually, so one won’t have to put all hope in valuation multiples alone. No need to be jealous of the big boys/girls at current prices; they paid significantly more for the shares in the IPO and private placements than what anyone can get the shares for right now. Today it was also announced that option subscription periods will be extended by 1-3 years. https://www.inderes.fi/releases/muutos-aiforia-technologies-oyjn-optio-ohjelmiin  The reason is likely to make the options profitable through a potential rise in the share price. Extending option periods is a “cheap” way for the company to fix the incentive structure without spending a single euro from the cash reserves right now.

NuWays has apparently already updated its outlook on 12.12.2025, i.e., after the €4m directed issue, and raised the target price based on cost cuts.  3.5 (Buy) → 3.8 EUR & (Buy) It should grow, though…  The gloom of H1 2025 is explained by Research at -16%, while Clinical grew an impressive 66%. With small numbers, the changes are large.  So, H2 2025 should see growth… Whether it’s actually been achieved, we’ll unfortunately only see on March 11th, at which point over 250 days have passed since the start of H2 2025… And even the freshest data will be over 70 days old. Sigh. Semi-annual reporting really should be supplemented with some reporting, such as at least sales figures.  Given the company’s cash burn rate, which is largely being spend on sales, the company is expected to deliver strong growth figures in H2 2025, demonstrating that the commercialisation and scale period of the business is clearly underway.   In that respect we view the results of H2 2025 as a pivot point. In H1 2025, the company grew a timid 2% yoy, which in our view has largely contributed to the recent share price weakness. In must be highlighted however, that this performance was largely due to the weak performance of the Research segment. During the same time, Clinical, which is the scalable part of the business, grew by 60%. For FY25e, we model 66% growth in the Clinical segment compared to a 16% sales decline of the Research segment, which would translate to an aggregate yearly growth of 25%, eNuW.   Management clearly views the years 2026-28e as hyperscale years for Aiforia, translating into a CAGR of 65.4% for 2026-28e .                    Nuways AG              Aiforia Technologies Oyj

I’ve been thinking the exact same thing. My amateur analysis is that the market is still too small and soft, and it’s developing slowly. This is also signaled by the weak revenue growth. If that’s the case, then especially in terms of the stock’s valuation, the negative cash flow is a major issue. Perhaps the short-term return potential lies more in being an acquisition target for a larger healthcare operator?

Wealth from AI has accumulated in Finland through previous success stories, such as SiloAI being sold to AMD. Why doesn’t Aiforia attract top-tier talent? This caught my eye as I’m trying to build what is otherwise a potential investment case. Academic research, references, strong partners in hardware and software—everything looks good, but something isn’t clicking.

Found this article. Aiforia mentioned.                   Hospitalia, le magazine de l'hôpital pour toute l'actualité et l'information...              Le CHU de Nantes franchit le cap du numérique en anatomie pathologique    Le CHU de Nantes vient de franchir une étape décisive dans la transformation numérique de ses pratiques en anatomie pathologique. Depuis le 10 septembre 2025, le service d’anatomie pathologique numérise ses lames et les pathologistes les interprètent...                             Another one on the same topic.            DeviceMed.fr – 6 Jan 26              Un lieu d’innovation au cœur du futur quartier de la Santé à Nantes    Avec la Fabrique de l’innovation en santé, le CHU de Nantes et ses partenaires lancent une offre inédite : une prestation de service intégrée, qui permettra d'accompagner des projets innovants, de l'idée à la mise sur le marché, avec des ateliers...

Aiforia Technologies

Aiforia's growth strategy implementation has progressed convincingly. Considering this we believe even more in its ability to take a significant role in its target market in the next decade....

<p>Aiforia's growth strategy implementation has progressed convincingly. Considering this we believe even more in its ability to take a significant role in its target market in the next decade. The valuation clearly leans forward (23-24e EV/S 24-13x) and the risks of valuation multiples falling is still high. However, considering recent performance, we expect business growth to compensate sufficiently for this. </p> 

	2022	23e	24e
Revenue	1.9	4.2	8.6
growth-%	91.8 %	125.9 %	103.3 %
EBIT (adj.)	-10.2	-11.2	-11.5
EBIT-% (adj.)	-546.2 %	-264.4 %	-133.8 %
EPS (adj.)	-0.41	-0.44	-0.44
Dividend	0.00	0.00	0.00
Dividend %
P/E (adj.)	neg.	neg.	neg.
EV/EBITDA	neg.	neg.	neg.

Aiforia Technologies: Potential starting to weigh more than risks

Key Estimate Figures2023-03-02

Forum discussions