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.

It’s a bit nerve-wracking what will come out of it when nothing is announced. I’d like to add more, but what if… It’s already one of the biggest in the portfolio. On the other hand, the future looks promising anyway. A considerable rise is expected if sales come in even as expected.

I just saw the same thing myself. I’ve come to the conclusion that no deals will be announced for December. Otherwise, it would be too easy to calculate, for example, Brainlab’s share of sales from them. (If that information was meant to be kept private). And if only one or two of our own deals are announced, that would truly cause panic among investors. I personally hold somewhere over ten thousand shares and I’m staying on board.

I wonder if this Danish deal has been announced at all? The advent calendar might be seriously off. The only trade announcement this could match was from July, and I don’t believe in such a long delivery time.                   linkedin.com              Such a great milestone and so impressed by the team at Privathospitalet...    Such a great milestone and so impressed by the team at Privathospitalet Mølholm, implementing the brand new Nexstim NBS 6 with unique SmartFocus® technology, being the first system of its kind in Denmark.   Thankful for being part of providing new,...                             The July deal this might be related to would be this one: Nexstim - Press-release The end customer is a Nordic therapy clinic that is acquiring their first Nexstim system. So, Denmark is not directly mentioned in that announcement either. Edit. And that Privathospitalet Mølholm is not a therapy clinic either. So, unannounced deals have been made, and a positive surprise is surely coming at some point!

The guidance is broad and has no upper limit in this case. There’s no point in announcing it if it’s within the guidelines. Besides, if it’s difficult to give an exact precise estimate, I don’t see any point in elaborating on it at this point in the year. Talking won’t turn black into white. The numbers are what matter, and they will be seen in due course.

Reaching Inderes’ estimate requires very brisk sales and also deliveries for this year, or alternatively, it requires that Brainlab has sold and Sinaptica has ordered devices that have not been announced. It would be nice to get clarified information from Nexstim regarding these Brainlab and Sinaptica sales, whether they will be announced. Based on the last CEO’s interview, it remained somewhat open to interpretation. The Sinaptica deal, which I naturally assume will happen, will nicely increase the result, but it is nevertheless a one-off. Of course, Brainlab is committed to a sales volume of 4 million, of which a small portion was already recognized in H1, so this acts as a backstop, but it is not enough for the estimates. I am not worried about the valuation in the long term, as I assume Brainlab is capable of large sales volumes because they have a large sales organization and customers ready, unlike Nexstim. I would find it strange if sales had slowed down so drastically after a good start to the year. Nexstim has been at a basic pace in October-November. So I trust that sales will happen through Brainlab, but they are not announced due to contractual reasons. Inderes’ estimate (and even above) is therefore still possible in my opinion. One interesting question remains whether Nexstim should issue a positive profit warning, or if, according to the rules, they can just go with a “EBITDA is expected to improve” forecast if the result improves significantly. However, there is an obligation (or is there?) for this, even if Brainlab’s and Sinaptica’s sales volumes were confidential due to contractual reasons.

Added nexstim last week. Although no deals have been announced in December, I trust the company’s long-term story. The company is growing strongly this year and will also become solidly profitable at the EBIT level. In fact, the key figures will be among the elite of the Helsinki Stock Exchange, if the earnings forecasts prove even slightly accurate. Inderes 2025e:  Revenue +79%  EBIT ~27%  ROI ~70%  Gearing 27% Valuation 2025e:  EV/Sales 6.6x  EV/EBITDA 20x  EV/EBIT 24x  P/E 25x In my opinion, the valuation is not excessive with these forecasts. The company is still flying under the radar of many investors, but the 2025 financial statements will surely attract the attention of many generalist investors. I have been steadily buying more during the autumn.

This post was flagged by the community and is temporarily hidden.

Nexstim

Nexstim published its Q1 business update on Friday. The company reported that it delivered two NBS systems during the period. 

<p>Nexstim published its Q1 business update on Friday. The company reported that it delivered two NBS systems during the period. Deliveries were slightly below our expectations in a seasonally slow start to the year. Based on the new data, we are modestly lowering our forecasts for the coming years. There have been no material changes in the valuation picture of the share. The stock is cheaply priced, but the risks are also elevated due to low visibility and a tight financial situation.</p>

	2023	24e	25e
Revenue	7.2	8.3	10.8
growth-%	-23.9 %	14.8 %	30.3 %
EBIT (adj.)	-1.2	-0.7	0.6
EBIT-% (adj.)	-16.9 %	-8.5 %	5.4 %
EPS (adj.)	-0.18	-0.11	0.07
Dividend	0.00	0.00	0.00
Dividend %
P/E (adj.)	neg.	neg.	209.9
EV/EBITDA	neg.	1,026.4	84.2

Seasonally calm start to the year

Key Estimate Figures2024-04-28

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