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Research

Taking a breather from forward-leaning valuation

By Antti LuiroHead of Nordic ER Development, Analyst
Nightingale Health
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Nightingale has continued to lay the groundwork for future growth by announcing new research customers where we see the potential for greater commercial opportunities in the future. The news adds some visibility to our top-line growth projections and provides a rationale for a positive share price development. The main risk to growth remains the success in scaling up the won clinical accounts. Against this backdrop, we think the share valuation has become too forward-oriented (+76% since our March 8 report). We believe the risk/reward is unsatisfactory based on the current data and await further news from the company's customer base or a moderation in the valuation.

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 Figures10.05.2024

202324e25e
Revenue4.24.78.7
growth-%80.8 %12.8 %85.0 %
EBIT (adj.)-18.5-17.8-17.6
EBIT-% (adj.)-442.9 %-377.5 %-201.9 %
EPS (adj.)-0.30-0.27-0.27
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.neg.neg.
EV/EBITDA0.8neg.neg.

Forum discussions

Some forum detective could do some digging to figure out the buyer. It’s a pretty hefty ownership stake if it is indeed going to a single entity...
3/8/2026, 5:28 PM
by Cle
3
There wasn’t really much revenue to speak of. Mostly just hiring new people and investing in sales activities. Some smaller research projects...
3/7/2026, 7:51 PM
by Monsieur
1
Could you briefly tell me what he said? Has there been any revenue? What does the outlook look like?
3/7/2026, 4:49 PM
by Mikko67
0
Yes, Suna most recently spoke about Japan in Nightingale’s own webcast.
3/7/2026, 1:47 PM
by Monsieur
1
Has the Japanese market been mentioned anywhere? They’ve been there for quite a long time already. If things don’t start working in Japan, why...
3/7/2026, 11:23 AM
by Mikko67
1
The IT strategy consultant was spouting jargon again. After watching the Boston Heart webinar last May, I noted that Jeffrey Barrett was the...
3/6/2026, 9:02 AM
by omegaalpha
4
Am I interpreting correctly that yesterday’s volume on the OTC market was 110,100 shares? otcmarkets.com OTC Markets | Official site of OTCQX...
3/6/2026, 6:33 AM
by Monsieur
1
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