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
  createdAt
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
    forum {
      threadUrl
    }
    defaultInstrument {
      symbol
      id
    }
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        threadUrl
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        symbol
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
      researchContent {
        title
        lang
        pdfUrl
        relatedContent {
          __typename
          ...PublishingDetails
          ...Reactions
          id
        }
        content {
          title
          lang
          htmlBody
          publishedAt
          createdAt
          changedAt
          isOutdated
          isPremium
        }
      }
    }
    ... 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
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
}

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
    }
  }
}


bittium-q2-review-blow-out-sales-and-order-intake-pt-up-nuways-ag-research

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

Bittium specializes in developing secure communication and connectivity solutions using technology and knowledge of radio technology. The products are used for mobile devices, computers, and other technological products in healthcare, defense, and other industries. Examples of work areas include cardiology, neurology, and rehabilitation. The company is headquartered in Oulu.

Linkki SEB:n analyysiraporttiin, missä käyvän arvon haarukkaan tuli muutos: "We lift our fair equity value range to EUR 35-45 (31-40) per share  We hike our fair equity value range due to our estimate hikes." https://research.sebgroup.com/corporate/reports/143472

From the NuWays analysis:            nuways-ag.com              NuWays Platform                              The book-to-bill ratio is indeed 1.32, which I understand to be a very strong indicator of future growth as well. In other words, for every euro delivered, Bittium received 1.33 euros in new orders. Thus, the order backlog grew significantly, even though deliveries / net sales were already showing strong growth.

NuWays:  Target: 40 (Buy) → 42€ & Buy High quality beat, they say. Indeed, orders from weapons manufacturers were good and, in terms of visibility, a new development, although Bittium has, of course, talked about its involvement in things like iMugs programs. Customer decision-making is faster and less politicized. And this is typically a ‘sticky business’ as well. Note: If you install the NuWays app, you can find the full update PDF there.  Notably, part of the orders came from weapons manufacturers, an order source that has developed faster than we anticipated, adding a second demand channel alongside national procurement. The CEO named manufacturers of ground-based air defence systems as one such customer group, integrating Bittium’s tactical communications into their platforms.   The robust delivery execution and the even more impressive order intake increase our confidence in a strong finish to the year. Management reiterated its guidance for an H2 weighting, consistent with the seasonality of the past three years. We raise sales estimates for this and the coming years as we see Bittium increasingly gaining traction across customer groups and regions. In light of the above, we raise our PT to € 42 (old: € 40) and reiterate our BUY rating, based on our DCF model.             nuways-ag.com              NuWays Platform

Kinnunen’s updated view on the company. The text also gives a “hold” recommendation for investors who can withstand volatility.   We are raising Bittium’s target price to €36.0 (previously €32.0), but we reiterate our “reduce” recommendation. The Q2 report was excellent, but we believe the 36% rise, or the increase of over €350M, was exaggerated without new international breakthroughs. The 2026 guidance remained unchanged, and our operational forecasts rose by about 10%, which is why we raised our target price. We believe significant orders are a matter of time in the modernization wave of tactical communications, but our forecasts for the coming years also depend on these orders. We believe the stock’s tight valuation may cause downward pressure while waiting for new international breakthroughs. On the other hand, investors who can handle volatility can stay on board for Bittium’s attractive long-term growth story.                    Inderes              Bittium Q2'26: Vain merkittävät uudet avaukset puuttuvat - Inderes    BittiuminQ2-raportti oli erinomainen, mutta 36 %:n tai yli 350 MEUR:n nousu oli mielestämme liioiteltu ilman uusia kansainvälisiä avauksia. Vuoden 2026 ohjeistus pysyi ennallaan ja operatiiviset ennusteemme nousivat noin 10 %.

Tactical and secure data transmission is at least the first thing that comes to mind.

I’ve been wondering about these defense suppliers and exactly what kind of weapon systems these products go into. Air defense, perhaps? And what, then, is the role of Bittium’s product in that?

Below are the key figures for the Defence & Security (D&S) business segment.  After crunching the numbers in Excel and following the Q2’26 webcast, I concluded that a significant portion of the D&S segment’s revenue growth and improved profitability in Q2’26 is likely explained by major product deliveries to weapon system providers, and partly also by the smooth implementation of the Indra licensing agreement. This is supported by the fact that in Q2’26, the D&S segment’s depreciation (= operating profit - EBITDA) increased to approximately -1.5 MEUR, whereas it was still around -0.8 MEUR in Q1’26 (cf. Outlook for 2026: “The operating result will be affected by depreciation corresponding to the license income received in 2026”). As a relatively new customer segment, providers of various weapon systems might already be a more significant customer segment in Bittium’s growth story than analysts previously assumed, and presumably, they will continue to be so in the future. I assume that these weapon system providers are not waiting for the outcomes of “national tenders” by various countries’ defense forces; instead, they want to integrate the features of Bittium’s advanced products—perhaps even unique ones—directly into the capabilities of their own weapon systems already now. Below, I have quoted one description from Bittium’s half-year report (p. 9) regarding the potentially unique features I am referring to: “Together with MarshallAI, the capabilities of Bittium’s tactical radios were enhanced so that they also act as AI-assisted electronic warfare sensors, ensuring the safety of their users. The feature will be made available to Bittium’s customers via a software update.” Bittium Corporation Half-Year Report January–June 2026 A more detailed description of the feature can be found here in Bittium’s press release from June 9, 2026. Similar descriptions of the features of Bittium’s advanced products can be found, for example, in the company’s other press releases. https://www.bittium.com/fi/sijoittajat/porssi-ja-lehdistotiedotteet/2026/ Bittium’s CEO speaks of a multi-year lead over competitors. I personally interpret this lead as an R&D advantage in product features compared to competitors’ product features, or something similar.

Bittium

Bittium printed an exceptional Q2. Sales grew 60.1% yoy to € 36.6m (eNuW: € 27.2m, eCons: €29.3m), a 25% beat vs consensus, on very strong Defense & Security (D&S) backlog conversion and product...

Bittium printed an exceptional Q2. Sales grew 60.1% yoy to € 36.6m (eNuW: € 27.2m, eCons: €29.3m), a 25% beat vs consensus, on very strong Defense &amp; Security (D&amp;S) backlog conversion and product deliveries. D&amp;S sales doubled yoy to € 28.7m (eNuW: € 19m, eCons: € 20.7m), 39% above consensus and the source of the entire group beat. Medical sales grew 3.2% yoy to € 4.9m (eNuW: € 4.8m, eCons: € 5.1m), while Engineering Services sales declined 14.5% yoy to € 3.3m (eNuW: € 3.4m, eCons: € 3.5m), due to a weak market and the reallocation of personnel to D&amp;S projects

Bittium: Q2 review - Blow out sales and order intake; PT UP - NuWays AG Research

Bittium: Q2 review - Blow out sales and order intake; PT UP - NuWays AG Research