Path to €1M ARR
Legit.Health's recurring ARR is €401K (June 2026, actual). €1M ARR is the milestone that unlocks the Series A on materially stronger terms. This page lays out where we are, the named pipeline behind the number, and the commercial levers that build toward it.
The €1M is the ARR level that opens the Series A. The capital already secured funds the commercial acceleration toward it, and reaching the milestone (not hitting a specific quarter) is what triggers the round. We are deliberately not pinning it to a date: we are building the pipeline and the team that get us there.
Where we are today
Our real recurring ARR is €401K (June 2026): annualized recurring contracts only, and it is the metric we lead on. A total annualized run-rate of €610K additionally counts the Clinical Research layer (pharma trials and studies, committed and project work) at annualized value; this is the size of the whole business, not recurring ARR.
ARR trajectory (actuals) and the milestone
Actuals through June 2026. The €1M bar is the Series A-unlock milestone: a target the plan builds toward, not a calendar forecast.
The named pipeline behind the number
The pipeline splits into two layers, kept separate on purpose. Only the practice layer builds ARR; the research layer is committed and project revenue that carries a different multiple.
Hospitals, insurers, public health, and pharma-sponsored clinical-practice software:
Generalitat Valenciana (public tender), LUX MED / BUPA (Poland), Lusíadas (Portugal), Siemens Healthineers + Servicio Murciano de Salud, Siemens Healthineers + CUN, Occident, Caser, CUF Hospitais, AbbVie (sponsored calculators), Chiesi (Epidermolysis Bullosa), plus expansion within Sanitas and Visiba Care.
Pharma trials and studies, mostly via CRO channels:
Visterra (Phase 2, via Quantificare), Almirall (PG study), Johnson & Johnson (Oncoderm Phase 2), Sanofi (PoC, via Quantificare), Takeda (AD trial, via Quantificare), Novartis, plus the ICON top-5 CRO channel.
Open pipeline is total contract value across both layers, not ARR. The recurring / Clinical Practice subset is what converts into ARR; the capital already secured funds the team to convert more of it and expand the existing base.
How we get there: the commercial levers
The contributions above are what each lever is designed to unlock with funded execution. They are targets that build toward the €1M milestone, not a booked forecast. Even reaching part of the way (for example €700K ARR) is roughly 1.75x today and a credible Series A platform: the path has graceful degradation.
What could go wrong (and the mitigation)
| Scenario | Likelihood | Mitigation |
|---|---|---|
| Recurring ARR stays roughly flat without funded execution | Medium-High | Demand is already proven (€610K total run-rate, €3.3M open pipeline); each growth lever has a closed precedent (Lux Med, SESPA, Boehringer/AbbVie); the capital already secured funds the conversion capacity |
| BUPA Europe / public-health rollout slower than projected | Medium | Lux Med and SESPA validated the channels; even one additional deal contributes €100-200K ARR; graceful degradation |
| Pharma-sponsored practice deals churn | Medium | The recurring subset (AbbVie, Boehringer) is the durable layer; a trial ending is not churn; new sponsorships offset attrition |
| Sales hires take longer to ramp | Low-Medium | Existing base and pipeline sustain current ARR; new hires accelerate, they are not a survival condition |
| Revenue concentration: J&J is ~38% of 2026 revenue | Medium | Multi-study master agreement committed through 2027; concentration falls as the recurring base grows; J&J sits outside recurring ARR |
Series A trigger conditions
The convertible held by existing investors converts at the future Series A. The round launches when these conditions are met, whenever that is, not on a fixed date:
- ARR at the €1M milestone (primary trigger)
- Net revenue retention measured on the recurring base and demonstrating expansion
- FDA pre-submission completed (US regulatory catalyst)
- 2+ multi-year pharma frames signed (committed revenue layer materialised)
Reaching these conditions positions Legit.Health for a Series A led by an international healthtech / clinical AI fund; the valuation terms are set out in the term sheet (available under NDA).
ARR and revenue figures are anchored to the internal finance file (Iker, authoritative for revenue and ARR). Pipeline logos and sizing are the curated CRM view reconciled to that file. See ARR & Revenue Mix for the full metric taxonomy.