24 slides from Aiforia Technologies Oy Class A's earnings presentation, Mar 7, 2025
Slide 1: Aiforia - AI for image analysis
. @ aifor Al for image analysis
Slide 2: Market position and orderbook strengthened
Market position and orderbook strengthened FINANCIAL STATEMENTS BULLETIN, JANUARY–DECEMBER 2024 Aiforia Technologies PlC March 7, 2025 2
Slide 3: Today's agenda
Today’s agenda 01. 2024 Highlights Jukka Tapaninen 02. Financial review CEO 03. Strategy execution 04. Q&A Veli-Matti Parkkonen CFO March 7, 2025 | FINANCIAL STATEMENTS BULLETIN 2024 3
Slide 4: 2024 highlights
2024 highlights The demand for Aiforia’s AI-assisted image analysis solutions strengthened significantly in the clinical sector, and our orderbook grew by +118% from the comparison year. Our stable market position as a known supplier is also reflected in the shift in the focus of new contracts from
Slide 5: Recent clinical deals and collaborations
Recent clinical deals and collaborations Sardinia Region, Italy ● Multi-year contract Pathlake Plus Consortium / NHS Mayo Clinic ● Breast and prostate cancer diagnostics ● 3 year framework contract for lung and ● Breast cancer diagnostics The Lombardy Region, Italy prostate cancer diagnostics ● 3 ye
Slide 6: Investments in product development have led to Aiforia's strengthened market position
Investments in product development have led to Aiforia’s strengthened market position ● Developed new AI models and user interfaces for both clinical diagnostics and research use. ● Launched a novel type of AI model to predict the risk of colorectal cancer recurrence. ● Further improved the integrat
Slide 7: Aiforia secured IVDR certification in February 2025
Aiforia secured IVDR certification in February 2025 The certification confirms that Aiforia complies with the requirements of the IVD Regulation, and enables Aiforia to bring an expanded portfolio of AI models to the European market. The certification was granted by a notified body, BSI Group. At th
Slide 8: Financial review
aiforia 2 Financial review
Slide 9: FY 2024 results in brief
FY 2024 results in brief 18% Group revenue increased by 19% to EUR 2,852 (2,398) thousand Order book was EUR 5,165 (2,373) thousand EUR 5,581 (5,927) thousand investment in Finland product development Europe and other 25% EBITDA was EUR –8,220 (-9,699) thousand 35% Number of employees on average 75
Slide 10: Order book – Revenue 2022-2024
Order book –Revenue 2022-2024 5,165 Orderbook CAGR (22-24) 112% Revenue CAGR (22-24) 33% 2,398 2,852 2,373 1,606 1,147 MARCH 7, 2025 | FINANCIAL REPORT 2024 10
Slide 11: Fixed costs are stable and trimmed
Fixed costs are stable and trimmed 16.5 15.4 15.2 73* 65* 6.6 8.0 75* 8.1 8.4 7.8 7.8 7.5 8.8 8.5 4.1 4.1 75* 74* 7.1 3.7 3.4 *FTE’s **employee costs include R&D activations and are w/o share based incentives MARCH 7, 2025 | FINANCIAL REPORT 2024 11
Slide 12: Operative cash flow before changes in wc
Operative cash flow before changes in wc -3.1 -3.8 -3.9 -4.6 MARCH 7, 2025 | FINANCIAL REPORT 2024 12
Slide 13: Strategy execution
aiforia ‘3 Strategy execution
Slide 14: Market opportunity
Market opportunity Population in relation to the number of … with no reduction of sample Pathologists Per Million pathologists¹ volumes in sight Estimated global cancer increases cases 2020-20404 Rising rates of disease like cancer, .. 2.0% CAGR 30% increase in cancer rates 28.9 m in the US in past
Slide 15: Adoption of AI in pathology is accelerating
Adoption of AI in pathology is accelerating AI-supported diagnosis Microscope Report for the clinician Tissue sample Scanner Image upload treating the patient Use of AI Any type of biological Majority of scanner Image is transferred to Benefits and result: sample or staining is and file formats are
Slide 16: Key competitive advantages
Key competitive advantages AI TECHNOLOGY LEADERSHIP Pioneer in providing commercial AI training tools for pathologists since 2018 Aiforia platform enables development of both diagnostic and predictive AI models Continuous product development to leverage new technologies, such as foundation models. S
Slide 17: Our strategy 2024–2025
Our strategy 2024–2025 Strategic focus areas Megatrends Mission GROWTH Invest in sales, marketing and support services in US, Europe and ● AI transformation Our mission is to transform other key markets to enable strong growth. Scale the business by pathology image analysis with acquiring new custom
Slide 18: Short-term business targets 2024–2025
Short-term business targets 2024–2025 Expand pre-clinical offering with new AI models and study-centric GLP workflow Expand clinical offering with 10 new regulatory- approved AI models Form at least three new strategic partnerships Achieve 15 key accounts (potential for over 500 EUR thousand in annu
Slide 19: Mid-term business targets by the end of 2030
Mid-term business targets by the end of 2030 Create a product offering that covers 80% of the pathologist’s diagnostic workflow Achieve profitable business by the end of 2027 Achieve revenue of over EUR 100 million Leverage technology beyond diagnostic support for pathologists Achieve 50 key account
Slide 20: Forthcoming events
Forthcoming events The Board of Directors’ Report and the Financial Statements for financial year 2024 will be published on March 14, 2025. Annual General Meeting 2024 on April 4, 2025. Materials available at https://investors.aiforia.com/ Half-Year Financial Report for January 1 – June 30, 2025 wil
Slide 21: Q&A
4 Q&A 21
Slide 22: For more information
For more Investor Relations Contacts information Jukka Tapaninen, CEO jukka.tapaninen@aiforia.com, +33 61 041 6686 www. investors.aiforia.com ir@aiforia.com Veli-Matti Parkkonen, CFO veli-matti.parkkonen@aiforia.com, +358 40 500 9878
Slide 23: Disclaimer
Disclaimer It should be noted that Aiforia and its business are exposed to various risks and uncertainties, and certain statements herein which are not historical facts, including without limitation, those regarding expectations for market growth and developments; expectations for growth and profita
Slide 24: aiforia.com
. @ aifor Al for image analysis