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
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      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-establishes-a-subsidiary-in-france

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Frans-Mikael Rostedt

Head of Nordic ER Development, Analyst

Antti Luiro

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.

It’s worth reading the IPO prospectus and what was stated there. Trust has been eroded by several share issues since then. The valuation was set too high, and the organizer of the offering also shares the blame for that. They need to have solid ground under their feet to get existing owners to participate in share issues anymore. That’s why they should develop new models, such as a partnership with a larger player, instead of continuing to dip into the current owners’ pockets—especially since new owners have now been brought in at a fraction of the IPO price. I’m sure that’s plenty for the board and the CEO, who also owns shares, to think about. And then there are all sorts of options on the horizon at these valuations. How exactly should trust be rebuilt? The same applies to other loss-making companies that were listed during the IPO hype. There are plenty of these stories, and soon enough, we might see a log cabin manufacturer and a candy company listing on the exchange. That’s some serious high-tech for the stock market right there.

I’m mainly wondering whether realizing that potential requires upselling to current customers, or if that €7-8M comes from contracts already signed and is just waiting to reach full speed. I recall Jukka mentioning in an interview that contract renewal negotiations with some hospitals will start this year; hopefully, they manage to sell more products

I’ve also been thinking about this, and it occurred to me again today when Faron published the terms of the offering, that some of those selling Aiforia might be people who want to prepare for Faron’s share issue. Trading volumes for Aiforia are small, and there don’t seem to be many buyers and sellers active per day, so everything likely has an impact quite easily.

This is also a rather peculiar fear (perhaps a real one) as it has been known for quite some time, and the need for capital has not grown unexpectedly. Furthermore, since the business ramp-up is progressing according to strategy and on schedule, the offering is not a negative thing for investors, unless they are suffering from a cash shortage.  Could Faron’s €40M be draining the pockets of medtech investors and causing this kind of pressure?

Well, two offerings have already been factored into that current guidance.

I also think the news from the past week has been promising, especially in relation to the badly slumped share price, and I made a 25 percent addition to my already shrunken position (now about 0.5 percent of the total portfolio). I also suspect that Aiforia is being weighed down by the poor general sentiment for companies of this type, but perhaps also by the fear of a future share issue. I’ve personally thought that an offering is inevitable, but if the company progresses as expected, the valuation will be higher at that time anyway than it is now. We’ll see in the autumn if I guessed correctly.

This is very interesting; at the moment, there is perhaps already, or at least a good chance, to become a so-called category leader in a hot sector. Not just in terms of the product, but through the partner network and key accounts. Sometimes the reasons for seemingly strange share price movements lie with the owners, not the companies or their market. Perhaps that is the case here as well.

Aiforia Technologies

Aiforia has had a sales organization in France since 2023, and the newly formed subsidiary will strengthen the company's local presence and support its growing business in the country. 

Translation: Original published in Finnish on 7/10/2025 at 9:30 am EEST.
Aiforia has had a sales organization in France since 2023, and the newly formed&#xa0;<a href="https://www.inderes.se/releases/aiforia-establishes-a-subsidiary-in-france-to-strengthen-its-position-in-the-european-market">subsidiary</a> will strengthen the company&apos;s local presence and support its growing business in the country. The new subsidiary will support Aiforia&apos;s growth and customer service in France and enable closer cooperation with local healthcare providers than before. According to the company, interest in its AI-based solutions has grown significantly in recent years, as evidenced by the <a href="https://www.inderes.se/en/analyst-comments/aiforias-collaboration-with-paris-hospital-district-moves-forward">Paris</a> and <a href="https://www.inderes.se/en/analyst-comments/aiforia-signs-new-clinical-account-in-france">Nantes</a> contracts. We believe the potential of these existing customers alone is significant if the expansion of customer partnerships is successful. France is investing heavily in the use of artificial intelligence in healthcare, and we expect Aiforia&apos;s business to expand significantly in France in the coming years. The launch of the subsidiary does not impact our view or the overall perception of the company, but we believe it bodes well for France&apos;s continued good progress in the future.

	2024	25e	26e
Revenue	2.9	4.7	7.6
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
Dividend	0.00	0.00	0.00
Dividend %
P/E (adj.)	neg.	neg.	neg.
EV/EBITDA	neg.	neg.	neg.

Aiforia establishes a subsidiary in France

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Key Estimate Figures23.04.2025

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