Viz.ai
ConvictionContext
Two engines on one install base. HEALTHCARE: annual enterprise subscription priced on pathways licensed and population served (Sacra), running on the hospital's existing studies. LIFE SCIENCES: pharma and medtech pay to deploy a pathway that finds patients for their therapy (BMS in HCM, J&J in chronic subdural, Novartis in oncology) — a commercial-budget payer, the correct side of the board's payer test. Reimbursement is a thin, explicitly temporary third layer.
Revenue
Not disclosed. Sacra ESTIMATES: ~$23M2022) → ~$40M (2023) → ~$65M projected (2024); ARR ~$12M (2020). Aggregator 2025 figures span ~$42M-$85M, so none is carried as fact. Only company statement: 'achieving profitability in its healthcare business' (12 Jan 2026), segment-level, basis unstated.Rev growth
~+74% 2022→2023 on Sacra's estimates. Company-statedno dollar base: life sciences 'doubled over the past 18 months' to 12 Jan 2026; 13 partners then, 14 by 28 Jul 2026.Gross margin
Not disclosed. Software-likeand better placed than the ambient-scribe cohort — per-study imaging/ECG inference is a fraction of per-encounter generative inference.Op margin
Not disclosed. Only datum is the 12 Jan 2026 healthcare-SEGMENT profitability claim — unauditedbasis unstated, not evidence of consolidated profitability.Capex intensity
Low and structurally so — no owned scanners or data centres. FY2026 fees are $26,067 for a 510k), $173,782 for a De Novo (canon REG-FEE-001).Valuation
n/aprivate). Last EQUITY mark ~$1.2B post-money, $100M Series D led by Tiger Global and Insight Partners, 7 Apr 2022 — a negotiated price, not a clearing price, 52 months stale. The board deliberately carries no valuation for this name (canon CM-PRIV-VZ-01).The read
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