Aclarion

Predictability is low. Revenue was $75,730 in 2025 and $21,140 in Q1 2026, driven mainly by UK scans; the model is highly sensitive to payer decisions and trial outcomes. While scan volumes rose 196% year over year in Q1 2026, the base is small and operating expense growth outpaces revenue.

Until payer coverage codifies and a repeatable go‑to‑market yields site‑level utilization curves, forecasting organic growth in revenue and free cash flow remains speculative. This profile contrasts with our preference for toll‑like, recurring, globally scaled platforms.