Qlucore
Qlucore is a Swedish software company that develops AI-based tools for precision medicine and genetic data analysis. Its portfolio includes Qlucore Omics Explorer for research and Qlucore Diagnostics for clinical use, with customers in healthcare, research, and life sciences across Europe and other international markets.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenueSoftware for advanced analysis and visualization of genetic and omics data.
Regulatory-approved software tests used to support cancer diagnosis in healthcare.
New cancer diagnostic models and tests under development with partners and grants.
Customers
Qlucore sells to hospitals, clinical laboratories, and healthcare providers that use its diagnostic software to classify patients and support treatment decisions. It also serves researchers and pharmaceutical companies that use Qlucore Omics Explorer for advanced genetic and biomarker analysis. In diagnostics, the company’s buyers are typically hospitals and healthcare systems that need CE-marked tools for regulated clinical use.
Buy diagnostic software for leukemia and other cancer applications to support clinical decision-making.
Use Qlucore Omics Explorer for exploratory analysis of genetic and omics data.
Use the research platform for biomarker discovery and patient stratification.
Adopt CE-marked diagnostic tests for regulated use in healthcare settings.
Strategy
Qlucore’s strategy is to expand from research software into regulated diagnostics by building a portfolio of CE-marked cancer tests. It is also broadening its product set across leukemia, lung, bladder, and AML while using distributors and agents to extend market reach beyond its direct sales base.
Multiple approved tests can increase clinical adoption and reduce dependence on one indication.
Agents and distributors help scale sales in markets where direct coverage is limited.
Omics Explorer remains the installed base and brand anchor for the company.
Geography
Qlucore is headquartered in Sweden and sells primarily into Europe, where CE-marking under IVDR is required for clinical diagnostics. Its reported customer base also extends to the United States, China, India, parts of South America, and the Middle East through direct sales and agents, reflecting a global research and diagnostics footprint.
Risks
Qlucore depends on a small number of software products and on customer adoption in regulated healthcare markets, so demand can be uneven and sensitive to procurement cycles. Its business is also exposed to competition from free research tools, regulatory requirements for diagnostics, and funding conditions in academic and healthcare markets.
- Multi-year license revenue timingImpact: HighLikelihood: High
Revenue is recognized upfront for multi-year contracts, creating volatility between periods.
Exposure: Qlucore Omics Explorer and Qlucore Insights
- Regulatory and clinical adoption riskImpact: HighLikelihood: High
Diagnostics require CE marking and hospital acceptance before meaningful scale is achieved.
Exposure: Qlucore Diagnostics
- Competition from free/open-source toolsImpact: MediumLikelihood: High
Researchers may substitute lower-cost alternatives, reducing conversion and renewal rates.
Exposure: Research software segment
- Dependence on research fundingImpact: MediumLikelihood: Medium
Cuts in academic or public research budgets can delay purchases and renewals.
Exposure: Research customers in Europe and the U.S.
- Geopolitical and macroeconomic uncertaintyImpact: MediumLikelihood: Low
International sales and customer budgets can be affected by weaker global conditions.
Exposure
Accounting
Judgemental itemsRevenue is booked when the contract is entered, which can create spikes and later gaps in reported sales.
Impact: Qlucore Omics Explorer and Qlucore Insights
Diagnostic product development may involve capitalization and later amortization, affecting EBITDA and operating profit.
Impact: Clinical test development programs
Tax losses are only recognized as assets if future taxable income is expected, affecting equity and tax expense.
Impact: Parent company tax deficit
If product demand or market conditions weaken, carrying values may need to be written down.
Impact: Software and development assets
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Last updated: 24/09/2026