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Bittium

32.80 EUR-1.94 %6.11, 17.29
8,522 following

BITTI

NASDAQ Helsinki

Telecommunications

Technology

Overview
Financials & Estimates
Dividend
Short Selling
Investor views
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-1.94 %
-16.01 %
+16.31 %
-2.38 %
+9.52 %
+76.91 %
+687.52 %
+523.57 %
+114.31 %

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.

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Market cap
1.17B EUR
Turnover
2.65M EUR
P/E (adj.) (26e)
41.52
EV/EBIT (adj.) (26e)
31.69
P/B (26e)
7.88
EV/S (26e)
7.61
Dividend yield-% (26e)
1.69 %
Coverage
Recommendation
Accumulate
Target price
44.00 EUR
Updated
30.10.2026
Disclaimer
Juha Kinnunen
Juha Kinnunen

Analyst

Latest research

Latest analysis report

Released: 30.10.2026

Latest extensive report

Released: 28.05.2024

Revenue and EBIT-%
EPS and dividend
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Forum discussions
Hi @PR1000 thank you for the clarifying question. The reference in the business review was to the combined impact of product deliveries and licensing. There have been no new radio program licensing agreements similar to the Indra deal. SafeMove software is also sold as licenses –...
11/4/2026, 3:38 PM
by Karoliina_Malmi
17
Yeah, it certainly looks that way when you read the article and compare the timeline to when Bittium announced this “test batch for special forces, ordered by a certain country.” A framework agreement with Safran has been made. Last year, when leaks and rumors started trickling out...
10/30/2026, 1:07 PM
by Kootteri
14
The mystery country is likely France. If the translation went even decently well, the article reveals that a couple of units have already been using the products. Wonder what Thales thinks about this. FOB - Forces Operations Blog – 29 Oct 26 Safran en embuscade sur la radio du combattant...
10/30/2026, 8:35 AM
9
Inderes’ updated view. We are upgrading our recommendation for Bittium to Accumulate (previously Reduce) and our target price to EUR 44.0 (previously EUR 36.0). The Q3 result was excellent, although it was driven by an exceptional milestone payment from the Indra license agreement...
10/30/2026, 6:38 AM
9
Hi @Karoliina_Malmi The business review states that “The growth was driven by product deliveries and licensing of tactical communications solutions to both new and long-term customers.” Does this mean that license revenue was also received from new customers in Q3, or did the phrase...
10/31/2026, 2:35 PM
7
NuWays’ Julius Neittamo reiterates “Buy” and a target price of EUR 46: Exceptional Q3 beat on Indra licence; guidance up Looking ahead, whether further Indra milestones fall in Q4 remains open, but with D&A only seen to normalise in 2027e, we expect some additional Indra licence ...
10/30/2026, 8:36 AM
7
Petri Toljamo presented Bittium to investors this morning at Redeye’s Defence & Space event. The presentation starts at -2:02: https://www.redeye.se/events/1145884/redeye-theme-defence-space?tab=schedule
11/4/2026, 10:04 AM
by ghoul
6
Read more on our forum
Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Third party research30.10.2026, 08.51

Bittium: Exceptional Q3 beat on Indra licence; guidance up - NuWays AG Research

Q3 review: Exceptional beat on Indra licence. Sales +97.8% yoy to € 45.8m (31% eCons beat), EBITDA € 27.0m (59.0% margin); FY26 EBIT guidance raised to € 29-36m. BUY, € 46 PT reiterated.

Bittium
Bittium Q3'26: Fra resultat-peak til ordrejagt
Research30.10.2026, 07.00
by Juha Kinnunen

Bittium Q3'26: Fra resultat-peak til ordrejagt

Indras milepælsbetaling gjorde Bittiums Q3-regnskab fremragende og sikrede i praksis resultatet for 2026. Næste skridt er ordrer, for at væksten også næste år kan indfries.

Bittium
Bittium Q3'26 -kort kommentar: Indra-milepæl rykkede regnskabsfesten frem
Analyst Comment29.10.2026, 08.15
by Juha Kinnunen

Bittium Q3'26 -kort kommentar: Indra-milepæl rykkede regnskabsfesten frem

Atterimercementet af Indra-licensgebyret løftede Q3-EBIT til 16,5 MEUR og overgik estimaterne med anselig margin.

Bittium

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Regulatory press release29.10.2026, 07.00

Bittium Oyj: Bittium Corporation's Business Review January-September 2026

Bittium
Bittium opjusterede sin resultatforventning før Q3-regnskabet: Driftsresultatet forventes nu at blive 29-36 MEUR
Analyst Comment28.10.2026, 14.31
by Juha Kinnunen

Bittium opjusterede sin resultatforventning før Q3-regnskabet: Driftsresultatet forventes nu at blive 29-36 MEUR

Forventningerne til driftsresultatet blev opjusteret til 29-36 MEUR båret af en stærk rentabilitet i forsvarssegmentet.

Bittium
Regulatory press release28.10.2026, 13.30

Inside information: positive profit warning: Bittium Corporation raises its result guidance

Bittium
Bittium Q3'26 preview: Indtjenningsmaskinen gearer op
Analyst Comment26.10.2026, 06.50
by Juha Kinnunen

Bittium Q3'26 preview: Indtjenningsmaskinen gearer op

Vi venter, at EBIT tager et spring til 6,1 MEUR båret af stærk medvind i forsvarssektoren.

Bittium
Third party research20.10.2026, 09.08

Bittium: Q3 preview: record backlog to support growth - NuWays AG Research

Bittium publishes its Q3 business review on Thursday, 29 October. Q3'26e sales are seen to increase 68% yoy to € 38.9m (eCons: € 34.4m), up 6% qoq from an already exceptional quarter (Q2'26: € 36.6m). Record backlog of c. € 102m and Indra-related deliveries...

Bittium
Regulatory press release14.10.2026, 13.30

Bittium Oyj: Changes in Bittium Corporation's Group Leadership Team

Bittium
Bittium skærper sin forsvarsspydspids med en strukturændring
Analyst Comment30.09.2026, 07.40
by Juha Kinnunen

Bittium skærper sin forsvarsspydspids med en strukturændring

Forsvar kommer i stigende grad i centrum for den strategiske om strukturering.

Bittium
Regulatory press release30.09.2026, 07.00

Bittium Oyj: Bittium Corporation changes its financial reporting structure as of 1 January 2027

Bittium
Regulatory press release30.09.2026, 07.00

Inside information: Bittium Corporation renews Its business structure to accelerate the implementation of Its strategy

Bittium
Third party research23.09.2026, 08.08

Bittium is THE European champion in tactical comms; PT UP - NuWays AG Research

Bittium signed a two-year Memorandum of Understanding (MoU) with Safran Electronics & Defense to develop tactical communications solutions for the French Ministry of Defence and the French Armed Forces, marking a significant milestone in its journey ...

Bittium
Bittium åbner døren for det franske forsvarsmarked gennem et samarbejde med Safran
Analyst Comment23.09.2026, 07.05
by Juha Kinnunen

Bittium åbner døren for det franske forsvarsmarked gennem et samarbejde med Safran

Partnerskabet med branchegiganten Safran åbner døren til det svært tilgængelige franske forsvarsmarked.

Bittium
Bittiums nordiske forsvarslinje strammes til: Danmark tiltrådte rammeaftale
Analyst Comment10.09.2026, 06.20
by Juha Kinnunen

Bittiums nordiske forsvarslinje strammes til: Danmark tiltrådte rammeaftale

Danmark har tilsluttet sig Bittiums rammeaftale, hvilket baner vejen for produktsalg inden for taktik kommunikation.

Bittium
Regulatory press release09.09.2026, 15.20

Inside information: The Danish Defence Forces join the framework agreement signed by Bittium Corporation's subsidiary Bittium Wireless Ltd. with the Finnish and Swedish Defence Forces

Bittium
Bittium indleder væsentlige spareforanstaltninger i Engineering Services-segmentet
Analyst Comment28.08.2026, 08.00
by Juha Kinnunen

Bittium indleder væsentlige spareforanstaltninger i Engineering Services-segmentet

Besparelsesmålet på 2 MEUR for Engineering Services-segmentet, som er i en overgangsfase, er efter vores opfattelse overraskende stort.

Bittium
Ny pust til Bittiums Medical-segment med lanceringen af Faros Pro
Analyst Comment27.08.2026, 10.44
by Juha Kinnunen

Ny pust til Bittiums Medical-segment med lanceringen af Faros Pro

Bittiums fornyede kardiologiske produkter udgør en vigtig vækstdriver for Medical-segmentet i de kommende år.

Bittium
Third party research10.08.2026, 08.14

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

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 deliveries. D&S sales doubled yoy to € 28.7m (eNuW: € 19m...

Bittium
Bittium Q2'26: Kun betydelige nye åbninger mangler
Research10.08.2026, 07.00
by Juha Kinnunen

Bittium Q2'26: Kun betydelige nye åbninger mangler

Bittiums Q2-regnskab var fremragende, men en stigning på 36 % eller over 350 MEUR var efter vores mening overdrevet uden nye internationale åbninger. Guidance for 2026 forblev uændret, og vores operationelle estimater steg med cirka 10 %.

Bittium