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Research

Nexstim: New year starts in a mixed atmosphere

By Antti SiltanenAnalyst
Nexstim
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Nexstim’s 2023 revenue grew to some 7 MEUR, but EBITDA was below the guidance. Thanks to good sales in late 2023, we raise our forecasts slightly. The valuation picture is moderate, but the company’s situation is also twofold. Continued good development and license income that will start later can turn cash flow around and enable future growth investments. On the other hand, a seasonally quieter H1 can freeze moneyflows and increase the likelihood of a financing round , putting pressure on the stock.

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 page

Key Estimate Figures03.01.2024

202223e24e
Revenue9.57.08.8
growth-%48.9 %-26.6 %25.7 %
EBIT (adj.)0.8-1.1-0.4
EBIT-% (adj.)8.8 %-15.6 %-4.8 %
EPS (adj.)0.18-0.17-0.07
Dividend0.000.000.00
Dividend %
P/E (adj.)22.8neg.neg.
EV/EBITDA22.0neg.524.6

Forum discussions

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14 hours ago
by Jatast
9
Waiting can sometimes be long, but now it has felt exceptionally long for those of us who eagerly follow market news in the mornings. Good things...
18 hours ago
by Pilkkionkija
6
Sinaptican funding round progresses: Sinaptica Therapeutics™ - Noninvasive Neuromodulation: A True Breakthrough in... – 11 Dec 25 Sinaptica ...
19 hours ago
by Tim89
11
I still live in the belief that those would also be announced. What would be Nexstim’s interest in keeping such a positive surprise under wraps...
12/9/2025, 4:51 PM
by Kyhnykeisari
9
Could this calendar also be taken as confirmation that devices that went through Brainlab are no longer press-announced?
12/9/2025, 3:47 PM
by Seeras
4
Sometimes as a child, I was disappointed with the scout calendar when it didn’t contain chocolate. This calendar has been even more useless ...
12/9/2025, 3:34 PM
by Kyhnykeisari
8
Boring pictures and not much chocolate I wonder if the distant relative will only give gifts next year?
12/9/2025, 3:28 PM
by Hannu
1
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