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Nexstim reported results on the use of accelerated iTBS protocol

On Thursday, Nexstim reported results from a pilot study on the use of accelerated iTBS protocol in treatment of severe depression with Nexstim NBT® System on 20 patients. At the end of the 12-week follow-up period, 25% of patients benefited significantly (remission) from the treatment. We do not think one can draw far-reaching conclusions from a narrow study, but the figure is equal to or lowish compared to results from other similar studies.

Analyst Comment2023-06-09 by Antti Siltanen
Innofactor's CFO changes

Innofactor announced yesterday that its CFO Markku Puolanne has decided to transfer to assume responsibilities with another employer and has resigned from his position on June 7, 2023. His period of notice is four months and the last working day shall be October 7, 2023. Naturally, we believe that the change will create a small discontinuity, but we do not believe it involves any greater drama.

Analyst Comment2023-06-09 by Frans-Mikael Rostedt
MGI Q1’23: Mixed result

MGI’s Q1’23 was mixed with lower revenue but better adjusted EBITDA than we expected. Analyst Anton Damsten summarizes the Q1 result and explains what 2023 and the medium term look like for the company.

Video2023-06-08 by Pia Maljanen, Anton Damstén
MGI Q1'23: Blandat resultat

MGIs Q1:a var något tudelad: lägre omsättning, men bättre justerad EBITDA än vi förväntade. Analytiker Anton Damsten sammanfattar rapporten och utsikterna framöver.

Video2023-06-08 by Anton Damstén, Pia Maljanen
Applications of AI-aided iCare ILLUME screening solution are expanding

The development of the iCare ILLUME solution has been fast and the pilots have quickly progressed to actual customer use in Europe, which also means (so far small) income flow to the company. The path from a growth initiative to a medium-term growth driver seems to progress very well in Europe based on the first examples, but the steps are still unclear in the US.

Analyst Comment2023-06-08 by Juha Kinnunen
NYAB considers re-domiciliation to Sweden and listing on Nasdaq Stockholm

The company announced on Wednesday that it considers changing its domicile from Finland to Sweden and a simultaneous listing on Nasdaq Stockholm. However, no decisions have yet been taken regarding the transfer of domicile or the change of marketplace / possible dual listing, but NYAB expects to be able to provide further information on this during H2’23.

Analyst Comment2023-06-08 by Aapeli Pursimo
MapsPeople (One-pager): Seeks to raise DKK 34.2m to finance operations until profitability and secure high 2023 ARR growth

We have released an updated version of our investment case one-pager on MapsPeople following the company's announcement of an offering of new shares with preemptive rights for existing shareholders.

Research2023-06-07 by Kasper Lihn
PAYDAY mobile game released worldwide by Starbreeze’ partner

Yesterday (June 6th) the mobile game company PopReach announced the worldwide launch of PAYDAY Crime War for iOS and Android. PAYDAY Crime War is the first mobile game based on the PAYDAY intellectual property (IP) and has been developed under a licensing deal reached with Starbreeze in 2021.

Analyst Comment2023-06-07 by Anton Damstén
LapWall: In good shape for the next up-cycle

LapWall is a prefabricator of wood-based wall and roof elements in Finland. LapWall's portfolio is well aligned with trends in the construction sector, and we believe the company is well positioned for profitable growth when the current miserable (residential) construction cycle normalizes.

Research2023-06-06 by Antti Viljakainen
Starbreeze: Allt handlar om Payday!

PAYDAY 2 står för 97% av spelutvecklaren Starbreeze's omsättning. Allt fokus, inklusive avsevärda belopp har investerats i utvecklingen av uppföljaren, PAYDAY 3, som lanseras i år. Analytiker Anton Damstén sammanfattar.

Video2023-06-06 by Isa Hudd, Anton Damstén
Starbreeze: All bets on Payday

PAYDAY 2 represents 97% of game developer Starbreeze’s total revenue. All bets are now on PAYDAY 3, which will be launched during H2'23

Video2023-06-06 by Isa Hudd, Anton Damstén
SP Group (One-pager): Danish-based plastics and composites manufacturing company

Today we present our updated one-pager on SP Group, a Danish-based manufacturing company specializing in the production of advanced plastic and composite components. SP Group operates globally, with 75% of its sales in Europe, out of which 28% are within Denmark and supplies a range of industries, including cleantech, healthcare, and food-related sectors.

Research2023-06-05 by Philip Coombes, Rasmus Køjborg
Sturdy, sturdier, US employment

Friday’s employment figures show that the US labor market continues moving on with no regard to recession expectations. In May, the  nonfarm payroll employment surprised positively with an increase of 339 000 jobs, but unemployment rose from a record low level to 3.7%. There was a decrease in both wages and weekly hours worked, indicating that tension in the labor market continues to decrease.

Article2023-06-05 by Marianne Palmu
Valuation methods: DCF model

The DCF model, also known as the cash flow model, may seem extremely complicated, danger-prone and a valuation tool only used by professionals if you are not familiar with it and listen to hearsay.

Article2023-06-02 by Joonas Korkiakoski
Bioporto - Rights issue and update on NGAL

Bioporto interview with CEO and CFO about upcoming rights issue and status on NGAL.

Analyst Comment2023-06-02 by Claus Thestrup
BoMill appoints Hansi Biedermann as Business Development Manager

BoMill has announced the appointment of Hansi Biedermann to the newly established role of Business Development Manager. He assumed the position on May 12, 2023 and is part of the Operation Management Team.

Analyst Comment2023-06-01 by Claus Thestrup
SKAKO (One-pager): Danish industrial machinery developer recovering after Covid-19

Today we post our updated one-pager on SKAKO, a Danish industrial machinery developer operating two different business units, SKAKO Concrete and SKAKO Vibrations. SKAKO Concrete is engaged in developing, marketing, and delivering machinery, industrial vibratory equipment, and/or complete concrete plants.

Research2023-05-31 by Philip Coombes, Rasmus Køjborg