Tecnotree

Tecnotree's share has been declining heavily since the company's financial statements report, which has resulted in the share’s valuation falling to a low level. Low visibility into future cash flows keeps the company's risk profile high, and the threats...

Tecnotreen Q4-raportti ylitti ennusteemme sekä liikevaihdon että tuloksen osalta. Tulosylitystä selitti kuitenkin pitkälti odotuksiamme suuremmat tuotekehitysmenojen aktivoinnit. Investointien ja käyttöpääoman sitoutumisen myötä kassavirta oli reilusti pakkasella.

We have included Tecnotree's CognitiveScale acquisition last weekend in our estimates. We see the acquisition of CognitiveScale's AI platform as a sensible addition to Tecnotree's product portfolio, which will strengthen the company's position in its customer base.

Tecnotree's Q3 figures exceeded our forecasts in terms of revenue and underperformed in terms of profit. The strong cash flow was the highlight of the report, and the company did well in repatriating receivables during the quarter.

Over the last few years, Tecnotree has sealed its return from a company in crisis to a profitable growth company. However, this growth has tied up significant working capital in the form of receivables, and in the coming years the company will need to demonstrate a sustained improvement in its cash flow profile.

Tecnotree's Q2 figures fell short of our expectations, both in terms of revenue and earnings. The company also issued a guidance for the first time in a long time, but it was cautious compared to our forecasts.

Tecnotree published its Q1 report on Friday. Investments to ensure long-term growth, competitiveness and hence value creation are strategically correct moves despite the hits to profitability in the short term.

Over the past few years Tecnotree has proven both the efficiency of its operating model and its technological competitiveness. The company's longer-term value creation outlook is good and the share is not particularly expensive.

Tecnotree's long-term value creation outlook has not changed and the same is also true for our fair value estimate for the company. However, the price has fallen again, which has turned the annual return expectation excellent.

On Friday, Tecnotree published its Q3 report that was well in line with our expectations. The company's longer-term earnings growth outlook is good and relative to this the share price is not too high. However, the recent share price increase has been...

During last month, Tecnotree has advanced in its new customer acquisition and finally been able to leave behind the restructuring program that partially limited its growth potential. Our view of the real value of the company hasn’t changed, but with ...

Yesterday, Tecnotree published a slightly stronger Q2 report than our estimates. The company is on a good track, as it’s growing profitably and making performance-increasing investments at the same time. After the completed financing arrangement, Tecnotree...

The demand drivers of Tecnotree’s products are healthy and the company’s own competitiveness or investment ability should not restrict its ability to jump on growth opportunities. We still consider the share’s valuation to be unjustifiably low and the...

Tecnotree’s Q1 report published yesterday was better than we expected on all fronts. The company can both grow profitably and strengthen its financial performance and competitiveness with investments according to strategy. A combination of these factors...

Over the past few years, the company has made several successful strategic moves. With these, the company’s technological competitiveness has improved, business structure has become better, and operational activities have reached a new level. Considering...