Interesting listing coming up.
The forum’s swarm intelligence should get a lot out of this IPO before the offering!
Not a great turnover and losses are coming at this stage.
However, the company has already raised 8.8 MEUR in 2021-01 before this IPO!
About Nightingale
Nightingale offers a health data platform that detects disease risk. With its health data platform, the Company connects the services of healthcare actors with the preventative health needs of individuals. In addition, the Company’s health data platform empowers individuals to take better actions to prevent diseases by allowing them access to disease risk information.
The revenue growth looks promising, and for 2020, I can accept the COVID-19 battered dip in this industry. Which is probably also one reason for this entire listing. They’re seeking more capital. I need to read that presentation, and here are a few things to pay attention to:
Are the founders making an exit here, or will they remain heavily involved?
What is the owners’ lock-up period after the listing?
Revenue is growing, but profit, operating profit, and EBITDA are plummeting at the same pace. When is the estimated possibility of breaking even?
Generally, the valuation: Is this IPO already pricing in 2025 promises, or is it possible to get in at a good price, meaning an attractive risk vs. reward?
My dear friend, did you also notice the small minus signs in front of those numbers? The absolute values have developed nicely, but in 2017, it was a loss of 500k, then 2.6M, and now in 2019-2020, a loss of approximately 4M.
So, with the corona pandemic, the result has actually improved a bit, not dipped. Before that, the operating profit had not grown. Not that the case should rely solely on this, but now you seem to have started off in the wrong direction from the starting line.
I got interested and ordered a blood test from Nightingale. The price, in my opinion, was a reasonable €109 (I guess this can be put on my taxes?), and it includes 2 blood tests. Registering and booking the test was quite easy on Nightingale’s website, good! However, Nightingale currently only has one testing location in a somewhat remote area in Pikku-Huopalahti, Helsinki. There were appointments available every week, but on quite random days. After booking, I proceeded to download the app. The alarm bells rang a bit when I saw there were only +500 downloads in the Google Play Store, but on the other hand, the company is just in its early stages. I thought I’d write more about my experiences here once I’ve had the blood tests and the results are in.
Shares will be offered to experienced and institutional investors in Finland, Sweden, Denmark, and internationally (excluding the United States), as well as to the general public in Finland, Sweden, and Denmark. In Denmark and Sweden, shares are available only to Nordnet customers.
Yes, I could participate in a market cap of 15-20 million euros. Of course, it still depends on the investor materials and how much growth the management promises.
I was already interested because of Alan and the name. This is clearly a future multibagger. If the valuation isn’t completely outrageous, I’ll take the minimum I can get from current IPOs and then cry on the forum about it, damn it. Let’s see what materials come out, slight interest.
From the press release: “Nightingale has raised around EUR 25M in the last thirty months as equity investments, non-equity loans, and income financing”
KL 6.3.2018: “Nightingale states that it has raised a total of 11.5 million euros in equity financing between 2015-2018.” (KL news story)
January 2019: 20 million loan from the European Investment Bank. (press release)
The goal is to launch blood analysis services in Japan and develop new wellness products.
Kirin is a diversified group operating in the beverage, pharmaceutical, and biochemical sectors.
Mitsui is a diversified company with approximately 130 offices in over 60 countries. Mitsui engages in product sales, global logistics and financing, and the development of international infrastructure and other projects.
If the company raises 100 million in funds, would the market value after listing be in the range of 300-500 million euros, just throwing a wild guess out there? I would guess that this is at least in the right ballpark, as the owners are unlikely to accept anything like a 50% dilution. The multipliers are such that the modeling must be done based on some kind of TAM.
“Gross proceeds from the new shares to be issued are expected to be no less than approximately EUR 100 million and will be used to support the Company’s growth strategy, by strengthening the Company’s international expansion, including investments in expanding the laboratory capacity, sales and marketing as well as R&D related especially to at-home blood testing and the expansion of databases relating to the prediction of disease risks.”
Interesting company, and they’re once again riding trends that only seem to be getting stronger. Doesn’t the population in Western countries, at least, continue to age and gain weight, meaning the demand for health technology is constantly growing? I really like their ambition
