Rilemo's financial projections cover the period FY2026–FY2030, spanning the company's transition from clinical validation to commercial scale.
Rilemo's go-to-market strategy follows a phased approach. From Q4 2026, Rilemo will begin placing devices at partner research institutions under its research collaboration programme, generating an initial stream of research contributions while building clinical data and stakeholder engagement ahead of commercial launch. Certified medical devices will enter the market from H2 2027, following CE marking under MDR Class IIa, with Q4 2027 representing the first quarter of effective commercial sales. FY2028 is therefore the first full year of commercial execution, supported by a pipeline actively developed since Q4 2026. Full details on the regulatory and commercial timeline are provided in the Go-to-Market and Regulatory Pathway.
Certified medical devices are sold at €50k for the hardware (one-time) and €10k per year for software and maintenance, with a 5-year commitment and automatic renewal upon expiry. The pricing reflects Rilemo's positioning as a diagnostic portable neuroimaging device, as detailed in the Business Model & Pricing section.
Under the research collaboration programme, partner institutions contribute €13k for the hardware and €5k per yearfor software and data access. This contribution is set at near cost-recovery level by design, consistent with the strategic objective of maximising partner engagement and data generation rather than revenue optimisation.
Direct sales will be used for initial commercialisation, progressively complemented by a distributor-based model as volumes scale. The commercial team follows a pod structure as described in the Go-to-Market section. The first sales representative joins in Q4 2026, focused on pipeline development ahead of CE marking. The second sales representative and first product specialist join in Q3 2027, supporting the commercial launch. From Q3 2028, a second sales module and a channel manager dedicated to distributor relationships are activated, driving the step-up in volumes from FY2028 onward. Each sales module is assumed to generate approximately 120 direct device sales per year, based on a target of 40–50 active hospital accounts per representative and a conversion rate consistent with capital equipment sales cycles in medtech. Indirect sales are assumed to contribute an average of 50 device sales per distributor per year, with 2 active distributors in FY28 scaling to 5 by FY30. Both assumptions will be validated through early commercial activity following market entry.
| (# of devices) | FY26 | FY27 | FY28 | FY29 | FY30 |
|---|---|---|---|---|---|
| Research devices - HW | 4 | 20 | 30 | 40 | 50 |
| Medical devices - HW | - | 40 | 340 | 850 | 1.520 |
| GTM direct sales | - | 40 | 240 | 400 | 520 |
| GTM indirect sales | - | - | 100 | 450 | 1000 |
| HW total volumes | 4 | 60 | 370 | 890 | 1.570 |
| % growth | 1400% | 517% | 141% | 76% |
Research device volumes reflect placements at partner institutions and are expected to grow as the research collaboration network expands across geographies.
Medical device volumes in FY2027 reflect a single quarter of commercial sales. FY2028 is the first full year of execution against a mature pipeline.
| (# of devices) | FY26 | FY27 | FY28 | FY29 | FY30 |
|---|---|---|---|---|---|
| Research devices - SW | 4 | 24 | 54 | 94 | 144 |
| Medical devices - SW | - | 40 | 380 | 1.230 | 2.750 |
| SW total volumes | 4 | 64 | 434 | 1.324 | 2.894 |
| % growth | 1500% | 578% | 205% | 119% |
Software volumes are cumulative, reflecting the recurring nature of annual subscriptions over a 5-year period and including renewals from the existing installed base.
All software and maintenance services are delivered directly by Rilemo, regardless of the sales channel through which the hardware was sold.