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Analyst Comment

Modulight receives orders for quantum computing

By Antti SiltanenAnalyst
Modulight

Translation: Original published in Finnish on 02/26/2025 at 08:29 am EET

Modulight announced on Tuesday that it received orders worth EUR 800,000. The ordered prototypes will be used in a highly scalable, fault-tolerant, general-purpose quantum computer. The orders will be delivered during 2025 and are part of a collaboration that started earlier. The customer is an American quantum computing company with significant global operations. Modulight does not supply similar technology to other customers.

Modulight has not previously announced orders related to quantum computing separately. We assume that this is a technologically important opening and reference, which can bring profitable growth to the company in the future. Quantum computing is a technologically rapidly developing industry that is still in a very early commercial stage. Growth expectations for the sector are very high. On the other hand, it is very difficult to anticipate the maturation of the technology and the development of the device market. Modulight's success with the order provides the company with more opportunities in the longer term. 

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Modulight operates in the technology industry. The company designs, markets, and produces biomedical laser products used in oncology, genetics, and ophthalmology. The customers primarily consist of hospitals and corporate customers operating in medical technology. In addition to the main business, various value-added services are also offered. Their main market is the US.

Read more on company page

Key Estimate Figures24.02.

202425e26e
Revenue4.17.710.6
growth-%1.7 %88.2 %38.0 %
EBIT (adj.)-8.3-6.9-5.9
EBIT-% (adj.)-203.5 %-90.0 %-55.2 %
EPS (adj.)-0.15-0.14-0.12
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.neg.neg.
EV/EBITDAneg.neg.neg.

Forum discussions

Has there been any significant or noteworthy development in the IQM and Modulight quantum computing collaboration, or is it just a basic partnership...
12/3/2025, 6:05 PM
by Salkunvartija97
1
Good company presentation. Exuding confidence. Also remembered the 2024 talks about commercialization. Now said that there hasn’t been anything...
11/27/2025, 8:20 PM
by Jopinaattori
1
A new, just under half an hour long Modu and Orsila.https://youtu.be/tk0nQENR9DU?si=9MU7U32q6KifMSdf&t=4
11/27/2025, 7:14 PM
by Maakinen
3
My previous message in the thread 4 years ago. Modu designs lasers, which is potentially a very lucrative part of the value chain, if it can...
11/27/2025, 6:20 PM
by Clark kent
5
I also recently invested a bit in Modulight. I’ve also noticed the quietness; it’s clearly the quietest company among my investments.
11/27/2025, 3:19 PM
by Salkunvartija97
1
It’s quiet, regrettably quiet. Trading is almost at zero. This is how the years pass, big promises have turned into silence.
11/27/2025, 3:11 PM
by Skipper
1
Orsila has bought 21,000 units. A good sign for me.
10/29/2025, 9:08 AM
by Jopinaattori
8
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