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Research

Revenio: Exceptionally strong figures supported by the dollar

By Juha KinnunenAnalyst
Revenio Group
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Revenio entered Q2 in its typical manner, delivering an excellent result, but the majority of the overperformance came from exchange rate effects. We raised our estimates for the current year, as EUR/USD rates support earnings, but next year's estimates remain unaffected. Revenio is among the elite of Nasdaq Helsinki in terms of continuous value creation, but the stock is also valued at a superstar level (2023e P/E around 50x). As a result, the expected return remains rather weak, and we don’t see any justification for further purchases.

Revenio is a global provider of comprehensive eye care diagnostic solutions. The group offers fast, user-friendly, and reliable tools for diagnosing glaucoma, diabetic retinopathy, and macular degeneration (AMD). Revenio’s ophthalmic diagnostic solutions include intraocular pressure (IOP) measurement devices (tonometers), fundus imaging devices, and perimeters as well as software solutions under the iCare brand. In 2023, the Group’s net sales totaled EUR 96.6 million, with an operating profit of EUR 26.3 million. Revenio Group Corporation is listed on Nasdaq Helsinki with the trading code REG1V.

Read more on company page

Key Estimate Figures2022-08-05

202122e23e
Revenue78.899.9116.3
growth-%29.1 %26.8 %16.4 %
EBIT (adj.)24.532.538.4
EBIT-% (adj.)31.1 %32.5 %33.0 %
EPS (adj.)0.740.971.11
Dividend0.340.510.58
Dividend %0.6 %2.3 %2.7 %
P/E (adj.)75.122.819.9
EV/EBITDA57.716.814.0

Forum discussions

Inderes Muutos F-Securen johtoryhmässä – Talousjohtaja vaihtuu - Inderes Muutos F-Securen johtoryhmässä – Talousjohtaja vaihtuuF-Secure Oyj ...
yesterday
by Jolkku
14
Jouni and Robin were a powerful duo. They inspired trust when you met them. It’s difficult to find a replacement, but let’s hope for the best...
yesterday
by Sergio
8
CFO Robin Pulkkinen is leaving Revenio. I had discussions with Robin at general meetings for about 10 years. An extremely competent guy, the...
yesterday
by Pandakarhu
22
Good morning! Thanks for the good question @MolskisPabrai - I’ll find out what that could mean in practice and get back to you as soon as possible...
12/17/2025, 7:01 AM
by Juha Kinnunen
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The FDA has announced this week that it is changing its practices regarding medical device approval applications. Device manufacturers can now...
12/16/2025, 8:25 PM
by MolskisPabrai
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Q3 was indeed rather boring, and it seems Q4 is progressing along the same lines. Reve also keeps a lower profile than before; they didn’t even...
12/5/2025, 2:12 PM
by Von Wangell
14
Revenio’s trading volume today, with a rising share price, is many times higher than normal. Those in the know, know, I don’t…
11/25/2025, 7:50 PM
by Sissos
17
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