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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.338.5

Forum discussions

An interesting summary article on the efficacy, benefits, pricing, pharmacological treatment, and more regarding TMS in relation to Alzheimer...
7 hours ago
by AccionHombre
16
Could this be it: hankintailmoitukset.fi Hilma
yesterday
5
It went to the public sector, so at some point it must have been in Hilma.
yesterday
by ekoira
3
hankintailmoitukset.fi Hilma I wonder if it’s this one or if this is something else? I don’t think this has popped up here yet?
yesterday
by Hannu
4
University Hospital in Finland Orders a Nexstim NBS 6 System Press release, Helsinki, 10 March 2026 at 9 AM (EET) Nexstim Plc (“Nexstim” or ...
yesterday
by Kyhnykeisari
32
Cognito has a Phase 3 trial ongoing, and results are expected in August. I don’t know how comparable Cognito’s and Sinaptica’s Phase 2 trials...
yesterday
by Tee
1
Medical tech should otherwise be immune, but rising interest rates obviously have an impact. I’m still a bit surprised that they are among the...
3/9/2026, 11:00 AM
by Puutaheinää
5
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