Nightingale launched a new service package for consumers within the promised time frame
Translation: Original comment published in Finnish on 3/31/2022 at 10:13 am.
As expected, Nightingale Health announced the launch of the new Livit by Nightingale consumer service. In the service, consumers can order and use the service to improve their health with Nightingale’s new app without having to visit a laboratory. The service combines several of the capabilities built in parallel by Nightingale (predicting disease risks, at-home testing, digital health solutions). The launch is a major step forward for the company, but we expect its business impact to become visible only over time. Thus the launch does not impact our view of the company.
Progress in line with set objectives continues
In connection with the launch, Nightingale released a new mobile app and risk indicators (Mind & Immunity), which the company sought during Q1. So far, the company has achieved its objectives, so in this sense the launch was highly expected. With the launch, Nightingale continued to stick to the targeted time frame and pursue its strategy, increasing confidence in the company's ability to implement the strategy effectively.
The service seems to be a clear leap forward
At first glance, we feel the service is a clear step forward in the company's offering to date. The new app includes new disease risks, and it seems that development measures and a community is planned to be included in the app related to the service. In our opinion the disease risks have lacked support from further functionalities that encourage action which the app now seems to include. At first glance, we believe that the launched service is clearly more interesting and accessible from the user's viewpoint than the company’s previous offering. The price of the chargeable service purchased from the app is EUR 59-159 per year or around EUR 5-13 per month, depending on the desired analysis interval (3-12 months). With a strengthened service and a reasonable price level, we believe that the conditions for commercial success in the new service have strengthened substantially.
Timing for international expansion of the service will be determined later
The app's paid content and at-home testing are currently only available in Finland. However, the free version of the app is already available for download in all EU countries, Canada, Iceland, Norway, Singapore, Switzerland, the UK, and the US. Nightingale said that they would announce the expansion of commercial availability of the paid version later.
Login required
This content is only available for logged in users
Nightingale Health
Nightingale Health operates in medical technology. The company specializes in the development of medical devices. The product portfolio is broad and includes platforms and services in blood tests that are used for disease prevention purposes. In addition to the main business, service and associated ancillary services are also offered. The business is run globally with the largest presence in Europe.
Read more on company pageKey Estimate Figures25.02.2022
2021 | 22e | 23e | |
---|---|---|---|
Revenue | 2.1 | 3.0 | 8.9 |
growth-% | 31.88 % | 43.68 % | 197.16 % |
EBIT (adj.) | -5.3 | -10.2 | -13.7 |
EBIT-% (adj.) | -253.63 % | -339.82 % | -154.69 % |
EPS (adj.) | -0.13 | -0.18 | -0.23 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | - | - | - |
EV/EBITDA | - | - | - |