Nexstim navigates its way to the United Arab Emirates
Translation: Original published in Finnish on 02/17/2026 at 07:35 am EET
On Monday, Nexstim announced it had received marketing authorization for its latest generation NBS 6 diagnostic system in the United Arab Emirates. The news represents a step forward in the company's gradual international expansion, which in turn supports our estimates for the company's growth in the coming years.
International availability of the NBS 6 system expands
NBS 6 is Nexstim’s latest, modular system generation, which the company has designed to be more user-friendly and flexible than before. The system's diagnostic features received regulatory approvals in Europe and the US at the end of 2025, and the UAE marketing authorization supports the company's geographical expansion. Nexstim already received marketing authorizations for the therapy features of the system in 2023. The diagnostics business is Nexstim's traditional strength, and NBS 6 is currently the only FDA-approved and CE-marked navigated TMS system used for pre-surgical mapping of the brain's speech and motor cortices.
Nexstim has entered into a cooperation agreement with Brainlab for the sale and distribution of diagnostic equipment. The marketing authorization received by Nexstim enables the sale of the system in a new market, where, in our estimation, Brainlab is responsible for the actual sales efforts.
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Nexstim operates in medical technology. The company has developed a non-invasive brain stimulation technology called SmartFocus®. It is a navigated transcranial magnetic stimulation (nTMS) technology with 3D navigation providing targeting of the TMS to the specific area of the brain. The technology is aimed for the treatment of major depression and chronic neuropathic pain. The company was founded in 2000 and has its headquarters in Helsinki.
Read more on company pageKey Estimate Figures05.01.
| 2024 | 25e | 26e | |
|---|---|---|---|
| Revenue | 8.7 | 12.3 | 15.2 |
| growth-% | 20.5 % | 41.1 % | 23.4 % |
| EBIT (adj.) | -0.5 | 1.5 | 2.7 |
| EBIT-% (adj.) | -6.1 % | 11.8 % | 17.8 % |
| EPS (adj.) | -0.12 | 0.17 | 0.35 |
| Dividend | 0.00 | 0.00 | 0.00 |
| Dividend % | |||
| P/E (adj.) | neg. | 53.6 | 26.8 |
| EV/EBITDA | 189.9 | 29.8 | 17.3 |
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