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Analyst Comment

Nightingale secured a 0.7 MEUR agreement for the Italian Moli-sani study

By Frans-Mikael RostedtAnalyst
Nightingale Health

Translation: Original published in Finnish on 07/07/2025 at 09:03 am EEST

Nightingale was selected as the metabolomics analysis provider for the renowned Moli-sani study in Italy. The total value of the agreement is approximately EUR 728, and the service is planned to be implemented already by the end of 2025. The agreement is significant for the company's research business and supports our growth forecasts for the second half of 2025. The company's revenue from other European countries (including Italy) was some 0.8 MEUR in 2024, making the agreement a significant size in comparison. This is a project-based revenue item, but we believe the agreement is a good additional reference for Nightingale's technology.

The Moli-sani study, led by INM Neuromed, investigates risk factors associated with major chronic diseases. With Nightingale Health’s advanced technology, the study will now examine the impact of nutritional and environmental factors on health.   The study also explores biological signatures associated with healthy aging and aims to identify population subgroups with different responses to preventative interventions. Nightingale was selected for the project in accordance with Italian public procurement law, and the parties are now proceeding to finalize the service agreement.

Nightingale Health operates in the medical technology sector. The company specializes in the development of medical technology products. The product portfolio is broad and includes platforms and services within blood analysis that are used for disease prevention purposes. In addition to the main business, service and related ancillary services are also offered. The business is operated globally with the largest presence in Europe.

Read more on company page

Key Estimate Figures11.06

202425e26e
Revenue4.45.28.2
growth-%4.2 %19.5 %57.5 %
EBIT (adj.)-18.6-17.3-16.2
EBIT-% (adj.)-426.6 %-331.4 %-197.6 %
EPS (adj.)-0.29-0.27-0.25
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.neg.neg.
EV/EBITDAneg.neg.neg.

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