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Canatu starts generating small revenue from defense industry

CANATUAnalyst Comment15.05.2025 klo 09.24
Atte RiikolaAnalyst
Discuss

Translation: Original published in Finnish on 5/15/2025 at 7:51 am EEST.

On Wednesday, Canatu announced that it has started mass production and deliveries of sensors designed to protect electronic devices to a global technology company. In terms of revenue, the agreement is small, but it demonstrates the versatility of Canatu's carbon nanotubes and highlights their potential in special applications outside the company's current focus areas (semiconductors, automotive sector and diagnostics).

Canatu's sensor is designed to detect unauthorized physical tampering in systems that store or process sensitive information. The device is connected to electronics that constantly monitors and responds to protect the data. The company already mentioned in connection with its IPO that it has an ongoing project targeting the defense sector, in which the product now being announced is being developed.

The agreement with the customer includes deliveries from April 2025 to the third quarter of 2026, and the corresponding revenue will be recognized during the same period. According to Canatu's disclosure policy, the agreement is considered to be of small commercial value (less than 1 MEUR). It can therefore be said to make a small contribution to our projected revenue for Canatu in the coming years.

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Canatu is a technology company active in deep technology that creates carbon nanotubes (Canatu CNT), related products and manufacturing equipment for the semiconductor, automotive and medical diagnostics industries. The company operates through two business models, firstly using their own reactors to develop and manufacture CNT products. Second, the company sells its CNT reactors and licenses its related technology, allowing customers to produce the products themselves under a limited license.

Read more on company page

Key Estimate Figures31.03.2025

202425e26e
Revenue22.022.835.4
growth-%62.1 %3.7 %55.1 %
EBIT (adj.)-4.8-7.5-4.0
EBIT-% (adj.)-21.9 %-32.8 %-11.4 %
EPS (adj.)-0.01-0.11-0.07
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.neg.neg.
EV/EBITDAneg.neg.neg.

Forum discussions

They updated their title themselves on LinkedIn. There probably hasn’t been any stock exchange release about it. I’d imagine some headhunter...
14 hours ago
by StockTycoon
1
Based on that slide, I would say that 10k is the customers’ minimum target and Lintec has now reached 21.6k with the “cWeb” product.
15 hours ago
by Lärtsä
1
Where is this information from? Or have I missed an update?
16 hours ago
by Seeras
0
Not really. The title has changed to Technology Fellow, so apparently the new CEO wants someone new for that role.
yesterday
by StockTycoon
3
Lintec has a durability of 10k discs, whereas Canatu’s CMD hinted at 15k.
yesterday
by Pandakarhu
11
Lintec will begin full-scale delivery of pellicles at the end of 2026. The article also provides a good overview of future development targets...
yesterday
by Pandakarhu
5
Has the CTO left Canatu? Canatu – 16 Sep 24 Leadership Team - Canatu
yesterday
by Seeras
6