contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Antti Siltanen

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.

Tomorrow is a good day to announce the final Sinaptica deal.  In the letter of intent, it was stated that the intention is to sign the definitive agreement by the end of the year.

Just earlier, the CEO stated very clearly that “We continue to report the hardware volumes delivered to all our customers (thus including hardware delivered to Brainlab) four times a year, i.e., in the Q1 and Q3 business updates and the H1 and H2 earnings reports.”. So the delivery volumes will be revealed in the interim reports; in my opinion, it’s quite pointless to speculate otherwise unless the company itself provides more information in the meantime.

Brainlab’s and Sinaptica’s transactions are not itemized and are aimed to be reported. This means there might be hidden equipment sales. At this stage, one just has to consider what kind of transactions and to which destinations are not wanted to be announced? What falls under trade secrets, and is there really a possibility that if Brainlab or Sinaptica wants to keep a transaction hidden, it will remain hidden? What was the difference between announced and realized transactions last year? For example, Brainlab’s 4 million guaranteed revenue means 13 devices annually (correct me if I’m wrong). I think it’s worth noting that Brainlab expects to sell more devices than that in the future. The story remains the same and has not changed. As for this year, and especially the end of the year, I’m a bit disappointed. The ketchup bottle effect has not yet been achieved this year in my estimates. Sinaptica’s final deal and its announcement could bring some Christmas cheer here too.

The company is at the root of such a big healthcare megatrend (e.g., treatment of depression) and the scalable market is global, so there are no limits – current trade reporting is quite okay for now, at least for some investor-savers. If this were a US company, then… Well, next year then.

The business was similar when the stock traded at 3 euros, so it might even be smart to lighten up? Always operating at a loss and very small revenue.

In these companies, you always have to wait for the earnings report for the truth to be revealed. Unless there’s a warning before that. It would be nice to have real-time information on how things are going. Now, if you sell or buy, you have to speculate on what the result will be. Personally, in light of the information available so far, I’m not doing anything. I’m waiting for that information to become available. Of course, it’s annoying if there’s a huge positive surprise and I haven’t bought more. Of course, it’s also annoying if the result is a disappointment and I didn’t sell. Stock investing is a hobby of eternal annoyance. If I happened to buy and that huge positive surprise comes, it’s annoying that I didn’t buy more…

Now Nexstim instructs as follows: “Outlook for 2025  The company estimates that revenue will grow and operating profit will improve.” No one can really call this very precise guidance. That’s why people are calculating how many devices will be sold compared to 2024. And that raises the question of whether all will be reported or not.

Nexstim

Nexstim is a medical technology company whose transcranial magnetic stimulation systems are used in pre-operative brain mapping and to treat neurological diseases and disorders. The company is a technologically advanced niche player in large markets supported by megatrends. Nexstim is still in an early stage of commercialization and seeking sustainable positive earnings.

<p>Nexstim is a medical technology company whose transcranial magnetic stimulation systems are used in pre-operative brain mapping and to treat neurological diseases and disorders. The company is a technologically advanced niche player in large markets supported by megatrends. Nexstim is still in an early stage of commercialization and seeking sustainable positive earnings. The valuation of the share relies heavily on future expectations of system sales growth, licensing income recognition and expansion of the new clinic network model. We find the valuation reasonable but it does not provide investors sufficient expected return relative to the risks at the current level. </p> 

	2022	23e	24e
Revenue	9.5	6.3	8.5
growth-%	48.9 %	-34.2 %	35.2 %
EBIT (adj.)	0.8	-1.8	-0.4
EBIT-% (adj.)	8.8 %	-28.9 %	-5.2 %
EPS (adj.)	0.18	-0.26	-0.07
Dividend	0.00	0.00	0.00
Dividend %
P/E (adj.)	22.8	neg.	neg.
EV/EBITDA	22.0	neg.	585.0

Nexstim: Growth initiatives waiting for lift-off

Key Estimate Figures2023-09-28

Forum discussions