Nexstim: Growth initiatives waiting for lift-off
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.
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Nexstim
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.
Read more on company pageKey Estimate Figures28.09.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 9.5 | 6.3 | 8.5 |
growth-% | 48.91 % | -34.15 % | 35.19 % |
EBIT (adj.) | 0.8 | -1.8 | -0.4 |
EBIT-% (adj.) | 8.79 % | -28.94 % | -5.20 % |
EPS (adj.) | 0.18 | -0.26 | -0.07 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | 22.85 | - | - |
EV/EBITDA | 22.00 | - | 218.05 |