Floy

Floy's AI solution achieves rapid regulatory approvals in key international markets (e.g., US, other EU countries) and successfully expands its patient-centric radiology AI, leveraging its unique usage-based model to capture significant market share. Revenue accelerates to $50M+ by 2028, justifying a $300M+ valuation at a Series B/C, driven by strong adoption and a clear path to profitability in a rapidly growing AI in medical imaging market.

Floy continues its strong growth in Germany and begins initial expansion into one or two additional EU markets, securing further regulatory clearances. The company maintains its moderate competitive moat but faces ongoing pressure from well-funded competitors and incumbents. Revenue reaches $20M-$30M by 2028, leading to a successful Series B round at a $120M valuation, doubling the current equity value.

Regulatory hurdles prove more challenging and costly than anticipated, delaying international expansion. Incumbent medical imaging giants or large AI companies launch directly competing, well-resourced solutions, eroding Floy's market share and pricing power. Growth stalls, leading to a down round or a difficult acquisition at a valuation significantly below the current $60M, wiping out most common stock value due to the $13M liquidation preferences.