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
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      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

Juha Kinnunen

Mikael Rautanen

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.

I wonder if Optomed’s CFO Sakari Knuutti is becoming permanent

If I had to guess, I think an acquisition is in the works and they want to ensure the process and overall financial situation go as smoothly as possible, so that the new incoming CFO has the best possible start in their role.

It’s quite strange that CFO Pulkkinen announced as early as 12/2025 that he’s leaving, and just as he’s about to head out the door, an interim “gig worker” is being brought in as a temporary finance chief. I wonder what’s dragging in the process, as time passes and resources are spent, but there’s still no word on a permanent appointment?                   Inderes              Revenio Group Oyj nimittää Juha Jaatisen väliaikaiseksi talousjohtajaksi -...    Revenio Group Oyj | Pörssitiedote | 12.03.2026 klo 16:00:00 EETRevenio Group Oyj on nimittänyt Juha Jaatisen yhtiön väliaikaiseksi talousjohtajaksi ja johtoryhmän jäseneksi. Jaatinen aloittaa...

Yahoo Finance              Perimeter Medical Imaging AI's 'Claire' Becomes First FDA-approved AI-Enabled...    Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTCQX: PYNKF) ("Perimeter" or the "Company"), a commercial-stage medical technology company, announced today that it has received U.S. Food and Drug Administration ("FDA") premarket approval ("PMA")...                             I wanted to ask those of you who follow Revenio closely about this, as I don’t remember much from the interviews anymore. Yesterday, PINK.V received FDA clearance for the use of AI in breast cancer screening, to put it loosely. I don’t expect you to explain this to me in layman’s terms, though I secretly hope you would. I got the impression from the previous CEO interview that Revenio hasn’t received FDA approval for its own “AI screening” yet and won’t be getting it this year, at least. If Perimeter received one yesterday, does this bode well for Revenio? Is breast cancer so “easy and beneficial” to detect that it doesn’t have the same requirements as eye imaging using AI? I apologize for the messy text, but I’m not the least bit interested in eye health (I take it for granted), so I don’t know how to use the right terminology.

A suitable mix of cash, stock, and debt would certainly enable even a larger acquisition. Revenio’s share price decline last year is a bit of a double-edged sword when using their own stock as currency. From the seller’s perspective, this is a good thing (if there’s a directed issue to the seller), as they receive more shares. On the other hand, lowered valuation levels should also be reflected in the price of the target company, meaning less is paid for it. At least that’s how I’ve interpreted it—that prices for unlisted companies in the sector have also rationalized and are no longer stuck at the hype multiples of the COVID years. In the CenterVue acquisition, a directed issue was made to institutional investors. At that time, 2.35 million new shares were issued at a price of 18 euros per share. Of course, existing cash reserves were also used to pay the purchase price. This wasn’t financed with debt (VPO), even though borrowing would have been cheap at the time. Revenio’s balance sheet is currently so strong that using debt is, in my opinion, absolutely sensible. The cost of capital could be lowered and the return on equity increased simply by changing the capital structure (adding more debt). Right now, the balance sheet is as conservative as it gets. It’s been 7 years since that acquisition, and the share price is hovering at exactly the same levels. Revenio’s revenue was 31 MEUR (2018), 49.5 MEUR (2019), and 110 MEUR (2025). At least the EV/sales multiples have come down  As have the earnings multiples.

Strategically speaking, using its own shares to acquire a smart OCT firm would obviously make sense. The target could be in that EUR 200+ M valuation range. It would result in dilution for current shareholders, but we would certainly have quite a strong player on our hands.

This is a bit tricky to answer, as acquisitions can of course be financed in many ways. But if we ignore share issues and using their own shares for now, Revenio’s balance sheet could very conservatively withstand at least 2x EBITDA in pure debt. That would be around 60 MEUR, if you trust our 2026 forecast. If they buy an entity that is already generating good cash flow, 3x would probably still be relatively painless, but then the focus would need to be on reducing the debt level. So perhaps something like 100 MEUR could be feasible for a strategically important acquisition that also directly generates more cash flow. In that case, the debt-servicing capacity would also directly improve. 4x would then be a risky level, at least in my opinion, and the market would probably start pricing in some degree of financial risk. And I don’t believe that the traditionally conservative Revenio would take on such large amounts of debt. But Revenio does have a lot of room to maneuver as such, because profitability is strong and cash flows are fundamentally good.

Revenio Group

Revenio is known as the global beacon of tonometers but these days the company is a noteworthy challenger in more extensive ophthalmic health technology. Imaging tools (previous CenterVue) play...

<p>Revenio is known as the global beacon of tonometers but these days the company is a noteworthy challenger in more extensive ophthalmic health technology. Imaging tools (previous CenterVue) play an increasing role in future growth and HOME products, as well as software business offer longer term growth promises. Business is growing very profitably, the market has sound growth drivers, and the products have strong competitive advantages. In addition, the company has an excellent track record of its ability to create value with investments in product development, structural reorganization, and new long-term growth templates</p> 

	2020	21e	22e
Revenue	61.1	79.3	102.5
growth-%	23.4 %	29.9 %	29.2 %
EBIT (adj.)	19.2	27.2	37.1
EBIT-% (adj.)	31.4 %	34.3 %	36.2 %
EPS (adj.)	0.58	0.82	1.10
Dividend	0.32	0.40	0.55
Dividend %	0.6 %	2.2 %	3.1 %
P/E (adj.)	86.6	21.7	16.3
EV/EBITDA	61.5	16.7	11.7

Revenio: Not a one-trick pony

Key Estimate Figures2021-06-08

Forum discussions