Subtle Medical
+131%
est. 2Y upside i
Rank
#228
Sector
Healthcare Technology
Est. Liquidity
~3Y
Data Quality
Data: MediumSubtle Medical offers significant upside potential with 100% ARR growth and a strong competitive moat, but the severe preference stack (86M total funding) and medium incumbent threat temper returns.
Last updated: July 19, 2026
Implied exit of $524M at 10x ARR, driven by FDA clearances and category leadership in AI radiology. After preference, common stock returns ~200% net of 20% dilution.
Implied exit of $419M at 8x ARR, converging to public comp multiples. Preference stack yields 172% net upside for common after dilution.
Implied exit of $262M at 5x ARR as multiple compresses due to incumbent competition. Common stock returns 34% after preference and dilution.
Preference Stack Risk
severeFunding Intensity
43%Total preferred stock of $86M represents 43% of current implied valuation, leaving $114M in common equity.
Dilution Risk
highWith $86M total funding and high burn, a further raise within 24 months is likely, potentially diluting common by 20%.
Secondary Liquidity
noneNo secondary market liquidity; employees must wait for an exit event.
Last updated: July 3, 2026
Questions to Ask at the Interview
Strategic questions based on Subtle Medical's data — designed to show you've done your homework.
- 1
“How does Subtle Medical plan to compete with embedded AI solutions from Siemens and GE?”
- 2
“What is the company's path to profitability given high R&D spend?”
- 3
“How does the company think about employee liquidity given the preference stack?”
Community
Valuation Sentiment
Our model estimates +131% upside. What do you think?
Anonymous. Do not share material non-public information.
Community Discussion
Comments are reviewed before they appear publicly.
Loading comments...
Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.