Nexstim: New year starts in a mixed atmosphere
Nexstim’s 2023 revenue grew to some 7 MEUR, but EBITDA was below the guidance. Thanks to good sales in late 2023, we raise our forecasts slightly. The valuation picture is moderate, but the company’s situation is also twofold. Continued good development and license income that will start later can turn cash flow around and enable future growth investments. On the other hand, a seasonally quieter H1 can freeze moneyflows and increase the likelihood of a financing round , putting pressure on the stock.
Nexstim
Nexstim operates in medical technology. The company has developed a non-invasive brain stimulation technology called SmartFocus®. It is a navigated transcranial magnetic stimulation (nTMS) technology with 3D navigation providing targeting of the TMS to the specific area of the brain. The technology is aimed for the treatment of major depression and chronic neuropathic pain. The company was founded in 2000 and has its headquarters in Helsinki.
Read more on company pageKey Estimate Figures03/01
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 9.5 | 7.0 | 8.8 |
growth-% | 48.91 % | -26.56 % | 25.72 % |
EBIT (adj.) | 0.8 | -1.1 | -0.4 |
EBIT-% (adj.) | 8.79 % | -15.65 % | -4.79 % |
EPS (adj.) | 0.18 | -0.17 | -0.07 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | 22.85 | - | - |
EV/EBITDA | 22.00 | - | 188.60 |