-54%

est. 2Y upside i

HealthcareSeries A

Rank

#3717

Sector

AI Healthcare

Est. Liquidity

~5Y

Data Quality

Data: Low

Ellipsis Health has strong technology and partnerships but significant valuation uncertainty and high downside risk due to a severe preference stack and likely share dilution.

Last updated: July 3, 2026

Bull (10%)+41%

If exit multiple expands to 12x (IPO window, category leadership), projected 24-month revenue of $22M yields $265M exit. After 20% dilution, net upside is 41.2%.

Base (45%)-29%

Exit multiple converges to 6x (comp range), $22M revenue yields $132M exit. After dilution, net downside is -29.4%.

Bear (45%)-100%

Exit multiple compresses to 3x, $22M revenue yields $66M exit, below $75M total funding. Common stock wiped out, return -100%.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

50%

Total preferred funding of $75M represents 50% of estimated entry valuation, meaning common stock is deeply subordinated in a downside scenario.

Dilution Risk

high

With $75M in funding and a Series A close in 2025, a follow-on round within 2 years is probable, diluting common holders by an estimated 20%.

Secondary Liquidity

none

No secondary market information available; pre-IPO employees likely have no liquidity.

Questions to Ask at the Interview

Strategic questions based on Ellipsishealth's data — designed to show you've done your homework.

  • 1

    “How does Ellipsis Health's vocal biomarker technology differentiate from Nuance/DAX and other AI scribes?”

  • 2

    “What is the company's current revenue run rate and growth trajectory?”

  • 3

    “Given the high preference stack, what is the management's plan to reach a liquidity event without diluting common holders further?”

Community

Valuation Sentiment

Our model estimates -54% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.