Nightingale Health

1.2EUR -2.76 %
4,136 investors are following this company

Nightingale Health operates in medical technology. The company specializes in the development of medical devices. The product portfolio is broad and includes platforms and services in blood tests that are used for disease prevention purposes. In addition to the main business, service and associated ancillary services are also offered. The business is run globally with the largest presence in Europe.

P/E (23e)
-3.95
EV/EBIT (23e)
0.06
P/B (23e)
0.8
Dividend yield-% (23e)
-
Target price
1.30 EUR
Recommendation
Reduce
Updated
24.3.2023
First North Finland
HEALTH
Daily low / high price
1.2 / 1.256 EUR
Market cap
46.91M EUR
Turnover
12.68K EUR
Volume
10K
Risk and recommendation
HighRiskLow
SellRecommendationBuy

Income statement

20192020202120222023e2024e2025e2026e
Revenue2.051.782.312.314.265.218.5916.50
growth-%17.10 %-13.04 %29.42 %0.35 %84.25 %22.21 %65.00 %92.00 %
EBITDA-3.55-3.12-7.30-9.39-11.93-11.94-10.50-6.15
EBIT (adj.)-3.78-3.34-8.64-13.63-18.34-16.99-15.62-11.47
EBIT-3.78-3.34-9.75-13.63-18.34-16.99-15.62-11.47
Profit before taxes-4.02-3.73-9.72-16.19-19.72-17.31-16.29-12.54
Net income-4.02-3.73-9.73-16.09-19.72-17.31-16.29-11.91
EPS (adj.)-0.21-0.23-0.30-0.28-0.27-0.20
growth-%
Dividend0.000.000.000.000.000.000.000.00
Dividend ratio

Profitability and return on capital

20192020202120222023e2024e2025e2026e
EBITDA-%-173.54 %-174.93 %-316.75 %-405.92 %-279.99 %-229.20 %-122.17 %-37.26 %
EBIT-% (adj.)-184.67 %-187.65 %-375.01 %-589.45 %-430.38 %-326.25 %-181.72 %-69.52 %
EBIT-%-184.67 %-187.65 %-423.17 %-589.45 %-430.38 %-326.25 %-181.72 %-69.52 %
ROE-52.10 %-62.29 %-15.05 %-13.73 %-19.42 %-20.85 %-24.60 %-22.85 %
ROI-24.95 %-26.12 %-13.74 %-11.11 %-17.36 %-19.25 %-20.16 %-16.42 %

Valuation

20192020202120222023e2024e2025e2026e
Share price (EUR)3.681.021.201.201.201.20
Shares60.5360.9260.9260.9260.9260.92
Market cap222.5161.8973.1073.1073.1073.10
Enterprise value114.58-28.85-1.0215.8934.0350.64
EV/S--49.71--3.053.963.07
EV/EBITDA---3.070.09---
EV/EBIT (adj.)---2.120.06---
EV/EBIT---2.120.06---
P/E (adj.)--------
P/E--------
P/B--1.810.560.800.981.261.58
P/S--96.5326.7617.1514.048.514.43
Dividend yield
Equity ratio39.63 %23.16 %88.52 %89.80 %87.85 %81.24 %68.93 %59.69 %
Gearing ratio13.51 %87.62 %-87.41 %-81.31 %-80.85 %-76.93 %-67.28 %-48.65 %

Quarter data

Q3/22Q4/222022Q1/23Q2/23Q3/23eQ4/23e2023eQ1/24e
Revenue-1.272.312.312.242.024.26
EBITDA4.13-9.39-9.39-5.46-6.47-11.93
EBIT5.91-13.63-13.63-8.67-9.67-18.34
Profit before taxes5.83-16.19-16.19-8.55-11.17-19.72
Net income5.76-16.09-16.09-8.55-11.17-19.72
Publisher
Research

Nightingale Health: Giving commercialization time to take shape

At the end of last year, Nightingale made its first clear revenue growth leap (+76%) on its journey as a listed company. However, continued strong growth will soon require new commercial contracts, and the company pursues several contracts in the current...

2023-03-24 by Antti Luiro
Publisher
Video

Nightingale Health H1'23 – Thursday, Mar 23 at 2:00 pm EET

Seuraa Nightingale Healthin H1’23-infoa torstaina 23.3. kello 14:00 alkaen inderesTV:stä.

2023-03-23
Publisher
Analyst Comment

Nightingale Health H1 morning result: Growth was needed, growth was delivered

Translation: Original comment published in Finnish on 3/23/2023 at 10:51 am. Nightingale's business developed clearly better than we expected and the company's commercial investments now seem to generate significant revenue growth for the first time....

2023-03-23 by Antti Luiro
Publisher
Research

Nightingale Health: Into the IFRS world before the half-year report

We lowered our profitability estimates in connection with the IFRS transition after reviewing the level of fixed costs required by the company in the next few years. However, in the big picture, the company's story has not changed. In the forthcoming...

2023-03-17 by Antti Luiro
Publisher
Analyst Comment

Nightingale acquires the rights to manufacture the blood collection device for its at-home test

The license gives the company the right to independently manufacture the Velvet devices and commercially use them in connection with its services. Prior to acquiring the license the company purchased the devices from Weavr based on a distribution agreement.

2023-02-01 by Antti Luiro
Publisher
Analyst Comment

Nightingale opens a laboratory in the United Kingdom

Nightingale announced it is opening a new laboratory in the UK during 2023 as part of the implementation of its growth strategy. The company has been working for years with many leading universities and the UK Biobank so opening a new laboratory is not surprising as such.

2023-01-25 by Antti Luiro
Publisher
Analyst Comment

BioSnack: Wish list for BioTech and Life Science investors

Welcome to this special Christmas edition of our BioSnack newsletter from HC Andersen Capital where we will try and give you insights and perspectives on the fascinating world of BioTech and Life Science investing – and perhaps try and spread a little bit of Christmas spirit. In this addition we have added a christmas wish list for BioTech and Life Science investors. On behalf of our BioTech and Life Science team, we hope you enjoy the reading!

Publisher
Research

Nightingale Health: Possible breakthrough moves further away

Nightingale’s H2 figures were weak throughout. The targets for the new fiscal year were also more conservative than our expectations and suggested that the potential for stronger growth is further down the road than we assumed. Therefore, we lowered ...

2022-09-30 by Antti Luiro
Publisher
Video

Nightingale Health H2'22 – Thursday, Sep. 29 at 1:00 pm EEST

Welcome to follow Nightingale Heath's H2'22 info on September 29 at 1:00 pm EEST on inderesTV.

2022-09-29
Publisher
Analyst Comment

Nightingale Health H2’22 morning result: Figures weak throughout, targets provided a bright spot

In light of the figures, Nightingale’s financial statements were weak and short-term growth risks have realized.

2022-09-29 by Antti Luiro
Publisher
Analyst Comment

Nightingale Health H2’22 on Thursday: Risks of delayed growth elevated

Nightingale has continued to commercialize and develop its technology on a broad front, but the achieved business has still been below the company's targets.

2022-09-26 by Antti Luiro
Publisher
Analyst Comment

Nightingale Health’s Board of Directors resolved on a change to the share-based incentive schemes

Nightingale Health’s Board of Directors resolved to change the subscription price of shares in the company’s stock option programs that entitle to subscribe for Series B shares.

2022-08-12 by Juha Kinnunen
Publisher
Analyst Comment

Nightingale reported on its business target achievements for financial year 2021-2022

This morning, Nightingale reported on its business target achievements for financial year 2021-2022 that ended on June 30. Nightingale’s business targets for the financial year 2021-2022 were: Launch of a commercial service based on the at-home test ...

Publisher
Analyst Comment

Nightingale’s service expands to Europe through partnership

Nightingale announced it had signed a partnership with Physitrack and that it would add its Livit service as a key feature to Physitrack’s wellness product Access. We believe the partnership is logical for the company and the press release supports our expectations of the company's technology commercialization progressing.

2022-06-08 by Antti Luiro
Publisher
Analyst Comment

Nightingale launched a new service package for consumers within the promised time frame

As expected, Nightingale Health announced the launch of the new Livit by Nightingale consumer service.

2022-03-31 by Antti Luiro
Publisher
Research

Nightingale: Risk investors must play the waiting game

Commercialization of Nightingale’s technology is still progressing on a broad front. The story combining the company’s high risks and potential has, in our opinion, only strengthened after the IPO. Pricing of future promises has fallen dramatically as...

2022-02-25 by Antti Luiro
Publisher
Analyst Comment

Nightingale H1 morning result: Small steps on a wide front

Nightingale’s fiscal year H1 report (7/1/21-12/31/21) was in line with expectations.

2022-02-24 by Antti Luiro
Publisher
Analyst Comment

Nightingale H1 on Thursday: A look at sprouting growth seeds

Since its listing a year ago, Nightingale has actively worked on the commercialization of its technology. Construction of Nightingale’s business is currently progressing on several fronts and our attention is focused on signs that these projects are progressing.

2022-02-22 by Antti Luiro
Publisher
Analyst Comment

Nightingale launches expansion into genetics through an acquisition

Nightingale Health announced that it acquires the Finnish genetic testing company Negen and launches an international center for genomic data analysis.

2022-01-19 by Antti Luiro
Publisher
Analyst Comment

Nightingale starts piloting corporate health service in Japan

Nightingale Health announced that it is piloting a corporate health service in Japan with conglomerate Mitsui. The pilot will consist of on-site blood draws at Mitsui’s headquarter in Tokyo, and the participants will receive their personal Nightingale blood test results at each phase of the pilot.

2021-11-18 by Antti Luiro