Is Nabla profitable in 2026?

Nabla does not disclose profitability publicly. It reported ARR grew 5x in the six months before its June 16, 2025 $70M Series C raise, a vendor-claimed figure, but no net income or profitability figures have been released as of mid-2026.

Could AI replace Nabla's product?

Nabla's own product is an AI ambient scribe, so the risk is commoditization rather than external disruption. Epic, which owns the EHR platform Nabla runs on, is building native AI charting, and Microsoft/Nuance already ships a rival with about 33% market share as of June 17, 2025.

Who is Nabla's biggest competitor?

Microsoft/Nuance's Dragon Copilot leads ambient clinical documentation with roughly 33% market share as of June 17, 2025, ahead of Abridge at about 30% share (per Menlo Ventures, July 9, 2026); Nabla trails both as a smaller, less-capitalized challenger.

Nabla is privately held and VC-backed, with no parent company. Its June 16, 2025 Series C ($70M) was led by HV Capital with Highland Europe, DST Global, Cathay Innovation, and Tony Fadell's Build Collective, bringing total funding to $120M.

Does Nabla's AI make clinical documentation mistakes?

A randomized controlled trial published in NEJM AI (UCLA Health, 238 physicians, Nov 2024 to Jan 2025) found Nabla reduced documentation time by about 10% and improved burnout scores by about 7%, but also flagged clinically significant inaccuracies requiring physician oversight, reported November 25, 2025.

Has Nabla raised money recently?

Yes, Nabla raised a $70M Series C on June 16, 2025, led by HV Capital, bringing total funding to $120M. This followed a $24M Series B in January 2024 that reportedly valued the company around $180M.

AI companies and labs · France

Nabla

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AI copilot that turns doctor-patient visits into clinical notes automatically.

Losing its protection

Assessed 21 July 2026 · Evidence as of 21 July 2026

The structural protection is eroding.

On the recordSince 21 July 2026 · Checkable from H2 2026 · Every call on the record Checkpoint: Epic's decision on native ambient charting and Nabla's next funding round

The call

Nabla grew fast on real clinical proof, but it sits on top of an EHR it doesn't own while two better-funded rivals already ship the same feature at scale.

Nabla sells software that listens to patient visits and writes medical notes automatically for doctors using artificial intelligence. It has real customers (85,000 doctors at 130+ hospitals) and published research proving it works, but two bigger competitors are already ahead: Microsoft's Dragon Copilot owns about a third of the market, and Abridge is worth billions and has more money to spend. The real danger is that Epic, the company that makes the computer system hospitals use to store records, can just build the same note-writing tool into their own product for free, which would make third-party companies like Nabla much less attractive. Nabla's partnership with a specialized AI company called AMI Labs is interesting but years away from being a real product, so it cannot protect the business from competition today.

Why

AI pressure: Abridge (AI-native ambient scribe, $5.3B valuation). Abridge already holds about 30% of the ambient scribing market with AI-native tools, matching Nabla's core pitch at greater scale. Could AI do the core job? Only partly.

Bigger players: Microsoft/Nuance Dragon Copilot and Epic. Dragon Copilot holds about 33% share and sits inside Epic, which could bundle native scribing and squeeze out third parties like Nabla. Could a giant copy it? Yes, easily.

What protects it. Peer-reviewed NEJM AI trial results, deep EHR integrations, and fast enterprise growth give Nabla clinical credibility Epic hasn't matched yet.

What would change this call

Epic announces or ships native ambient scribing bundled into standard EHR contracts within 12-18 months. would show Epic absorbing the category, squeezing third-party tools like Nabla.
Nabla wins or loses named flagship renewal at a large health system (e.g., LCMC, M Health Fairview) against Abridge or Microsoft. would show whether Nabla holds or loses share at key accounts.
Alex LeBrun's dual CEO role (Nabla and AMI Labs) leads to a leadership change or product delay at Nabla within 6-12 months. would show whether split focus is straining Nabla's execution.

Key numbers

85,000+ clinicians across 130+ health systems (2025-06-16)
Microsoft/Nuance holds ~33% ambient scribe market share (2025-06-17)
Abridge valued at $5.3B with ~30% market share (2026-07-09)

Named risks

Epic could bundle native ambient scribing into standard EHR contracts, eliminating need for Nabla layer. Severity: high
Better-funded rivals Microsoft/Nuance (~33% share) and Abridge (~30% share, $5.3B valuation) taking flagship renewals. Severity: high
NEJM AI RCT flagged clinically significant inaccuracies in AI-generated notes, raising liability exposure. Severity: medium
Co-founder Alex LeBrun now splits time as AMI Labs CEO while AMI is 5+ years from a saleable product. Severity: medium
Frontier LLMs could commoditize core transcription-to-note capability, narrowing differentiation. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
Microsoft/Nuance (Dragon Copilot)	losing to	Holds ~33% ambient documentation market share vs Nabla, June 17, 2025, with deep Epic integration
Abridge	losing to	~30% market share and $5.3B valuation after $300M Series E, reported July 9, 2026
Ambience Healthcare	contesting	~13% market share as of July 9, 2026, another well-funded ambient scribe rival
Epic (EHR platform)	losing to	Building native AI charting features that could bundle out third-party scribes like Nabla, per June 2026 industry review

Questions people ask

Is Nabla profitable in 2026?: Nabla does not disclose profitability publicly. It reported ARR grew 5x in the six months before its June 16, 2025 $70M Series C raise, a vendor-claimed figure, but no net income or profitability figures have been released as of mid-2026.
Could AI replace Nabla's product?: Nabla's own product is an AI ambient scribe, so the risk is commoditization rather than external disruption. Epic, which owns the EHR platform Nabla runs on, is building native AI charting, and Microsoft/Nuance already ships a rival with about 33% market share as of June 17, 2025.
Who is Nabla's biggest competitor?: Microsoft/Nuance's Dragon Copilot leads ambient clinical documentation with roughly 33% market share as of June 17, 2025, ahead of Abridge at about 30% share (per Menlo Ventures, July 9, 2026); Nabla trails both as a smaller, less-capitalized challenger.
Who owns Nabla?: Nabla is privately held and VC-backed, with no parent company. Its June 16, 2025 Series C ($70M) was led by HV Capital with Highland Europe, DST Global, Cathay Innovation, and Tony Fadell's Build Collective, bringing total funding to $120M.
Does Nabla's AI make clinical documentation mistakes?: A randomized controlled trial published in NEJM AI (UCLA Health, 238 physicians, Nov 2024 to Jan 2025) found Nabla reduced documentation time by about 10% and improved burnout scores by about 7%, but also flagged clinically significant inaccuracies requiring physician oversight, reported November 25, 2025.
Has Nabla raised money recently?: Yes, Nabla raised a $70M Series C on June 16, 2025, led by HV Capital, bringing total funding to $120M. This followed a $24M Series B in January 2024 that reportedly valued the company around $180M.

Timeline

2026-05UC San Diego Health becomes a customer
2026-03-09Nabla co-founder Alex LeBrun becomes CEO of AMI Labs after its $1.03B seed round
2026-03University of Toledo Health scale-up deployment
2026-02M Health Fairview systemwide deployment of Ambient AI and Dictation
2025-12LCMC Health systemwide rollout across 8 hospitals, 2,800 clinicians
2025-11-25NEJM AI publishes UCLA Health RCT on Nabla's documentation-time and burnout impact
2025-10Nabla Connect launches as plug-and-play ambient AI module for EHR vendors
2025-06-16Nabla raises $70M Series C, total funding reaches $120M
2025-02Nabla Dictation launches for real-time at-cursor voice-to-text
2024-01-05Nabla raises $24M Series B led by Cathay Innovation

Revision history

21 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

In the same band

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