Revenio Group

Revenio's Q3 earnings fell short of our overly optimistic expectations, but on the other hand, the Q4 outlook appears better than we anticipated. There have been no dramatic revisions in the outlook for the coming years, but the market is showing at least small signs of recovery.

We expect the company to achieve good revenue growth, although the weakening US dollar and uncertainty caused by US tariffs are creating difficulties.

The EU is the world's second largest market for medical devices after the United States. In this article, we will go through the basics of EU regulation from an investor's perspective.

We continue our series of articles focusing on Life Science investing, the first four parts of which focused on drug development. Subsequent articles will cover medical devices.

Q2's operative EBIT was in line with our expectations, although revenue growth fell short of our expectations. Our forecasts decreased mainly due to FX changes, but we also believe that the growth outlook for the coming years has weakened slightly. Overall, things are progressing more or less as expected despite external headwinds, but the valuation demands earnings growth.

Revenio will publish its Q2 report on Thursday at around 9.00 am (EEST). The company's key figures face significant headwinds from the EUR/USD exchange rate and US import tariffs, which also cause uncertainties in demand development. Roughly half of Revenio's revenue is in US dollars. Uncertainty is indeed very high, but we estimate the operational performance to have been quite solid.