Full Year 2025 Nexstim Oyj Earnings Call Transcript
Key Points
- Nexstim Oyj (FRA:5NX) demonstrated profitable growth with a 26% increase in sales during 2025, while operational expenses increased by only 1%.
- The company achieved a high gross margin of 77% for the year, maintaining strong profitability.
- Nexstim Oyj (FRA:5NX) has a strong competitive edge as the only diagnostic player with both FDA and CE approvals in the navigated TMS field.
- The company has a robust pipeline and traction in new partnerships, including collaborations with Brainlab and Sinaptica, which are advancing towards long-term agreements.
- Nexstim Oyj (FRA:5NX) reported a positive EBITDA of EUR 1.7 million, marking a significant increase of over 430% from the previous year.
- Recurring revenue saw a decline in H2 2025, particularly in the diagnostics and therapy segments, due to customer budget pressures and a shift towards capital expense purchases.
- The transition from single-use to reusable head trackers is expected to reduce recurring revenue from consumables.
- There is potential pressure on gross margins due to increased sales volume through partners like Brainlab, which may lower the gross margin percentage.
- The company faces challenges in maintaining its high gross margin of 77% due to market dynamics and partnership agreements.
- Despite the growth in system sales, the recurring revenue portion decreased, which could impact long-term revenue stability.
(audio in progress) And welcome, everyone, to this investor presentation, the H2 '25 and full-year '25 financial results for Nexstim Plc.
My name is Mikko Karvinen, and I'm the CEO of Nexstim, and I will be today presenting together with our CFO, Joonas Juokslahti. Here's a bit of a background. My previous experience since joining Nexstim in 2014 was in international growth companies, publicly listed in the Helsinki NASDAQ Stock Exchange, companies such as Innofactor, SSH Communications Security and Vaisala.
Now to the topic of today, I will begin with a little bit of background about Nexstim and our business. Then our CFO, Joonas Juokslahti, will be going through some of the financial details of our reports that we published today with some long-term trends, and then I'll come back with some slides on the momentum and, for example, our strategic objectives for '26.
To begin with, Nexstim is the leading navigated TMS company. We're the technology leader. We're the most advanced technology and
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