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Extensive research

Modulight: Laser company being calibrated towards growth

By Antti SiltanenAnalyst
Modulight
Download report (PDF)

Modulight is a technology company focused on the design and manufacture of lasers and optics with a strategic focus on medical and biomedical applications. Modulight's growth story was interrupted after the 2021 IPO and the company is now looking to get back on track for profitable growth with a renewed strategy. We expect the company to deliver strong growth, although the visibility of the forecast is weak. Our valuation that relies on sales-based ratios and cash flows suggests the stock being moderately overvalued.

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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 Figures20.03.2023

202223e24e
Revenue4.69.512.8
growth-%-49.3 %107.4 %34.0 %
EBIT (adj.)-7.8-3.9-2.6
EBIT-% (adj.)-169.5 %-40.4 %-20.4 %
EPS (adj.)-0.20-0.09-0.06
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.neg.neg.
EV/EBITDAneg.neg.283.2

Forum discussions

The trading volume is apparently so small that even small purchases can swing the stock by about 10-15 cents.
3/26/2026, 10:34 AM
by Salkunvartija97
0
Cash is running out, the family gets paid, and then the shutters close. Nothing positive has come out, and I don’t believe anything is coming...
3/20/2026, 8:21 AM
by Skipper
1
IQM plans to list on the US stock exchange and is also considering listing on the Finnish stock exchange. Could Modulight have some collaboration...
2/24/2026, 11:50 AM
by Salkunvartija97
0
Here is the third published analysis on Saturday, how nice. Antti has written a new company report on Modulight following the Q4 results. Modulight...
2/21/2026, 4:51 PM
by Sijoittaja-alokas
5
Siltanen interviewed Modulight CEO Seppo Orsila regarding Q4 Inderes Modulight Q4'25: Oikeaan suuntaan - Inderes Aika: 20.02.2026 klo 14.50 ...
2/20/2026, 2:51 PM
by Sijoittaja-alokas
6
Tampere is a laser valley Tekniikka&Talous – 18 Feb 26 Maailman tarkimpia lasereita valmistava suomalaisyritys 100 % vuosikasvussa –... Tamperelainen...
2/18/2026, 7:52 AM
by Molskis06
3
Here are Antti’s pre-result comments as Modulight reports its results on Friday, February 20. We expect the company’s revenue to have continued...
2/18/2026, 5:38 AM
by Sijoittaja-alokas
3
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