Major Estimate Revision • Jun 14
Consensus revenue estimates fall by 25% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €7.90m to €5.90m. Forecast losses increased from -€0.27 to -€0.29 per share. Healthcare industry in Finland expected to see average net income growth of 20% next year. Consensus price target of €1.40 unchanged from last update. Share price was steady at €0.87 over the past week. Announcement • Jun 10
Nightingale Health Oyj Updates Earning Guidance for Financial Year 2025–2026 Nightingale Health Oyj updated earning guidance for financial year 2025–2026. Nightingale Health still expects current-year revenue to grow by approximately 20% (+/- 5%) compared with the previous financial year. The previously communicated target of more than 50% revenue growth for the current financial year will not be reached because the timeline of a major project has shifted for reasons outside the company's control. The project will proceed and be implemented in full scope. The associated revenue, approximately EUR 2 million, will be recognised in the next financial year rather than the current one. This is a shift in timing, not a change to the project or its total value. Despite the approximately EUR 2 million of project revenue shifting to the next financial year, Nightingale Health still expects current-year revenue to grow by approximately 20% (+/- 5%) compared with the previous financial year. Had the postponed project revenue been recognised in the current financial year as originally planned, the company would have reached revenue growth of approximately 65%. Over the year, Nightingale Health has continued strong sales efforts across both its healthcare and research businesses. Announcement • Jun 09
Nightingale Health Oyj Provides Earning Guidance for Financial Year 2026–2027 Nightingale Health Oyj provided earning guidance for financial year 2026–2027. Nightingale Health expects revenue to exceed EUR 10 million in the next financial year. The company will announce more detailed targets for the financial year 2026–2027 as part of its full-year result release in September 2026. Announcement • May 29
Nightingale Health Oyj to Report Fiscal Year 2026 Results on Sep 16, 2026 Nightingale Health Oyj announced that they will report fiscal year 2026 results at 10:00 AM, USSR Zone1 on Sep 16, 2026 Announcement • May 28
Nightingale Health Oyj, Annual General Meeting, Nov 05, 2026 Nightingale Health Oyj, Annual General Meeting, Nov 05, 2026. Announcement • May 27
Nightingale Health Oyj to Report First Half, 2027 Results on Mar 09, 2027 Nightingale Health Oyj announced that they will report first half, 2027 results on Mar 09, 2027 Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 3 highly experienced directors. Independent Director Ilkka Laurila was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Apr 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Finnish stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.2% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€11m net loss in 3 years). Market cap is less than US$100m (€74.5m market cap, or US$87.7m). Reported Earnings • Mar 10
First half 2026 earnings: EPS and revenues miss analyst expectations First half 2026 results: €0.14 loss per share (further deteriorated from €0.14 loss in 1H 2025). Net loss: €8.81m (loss widened 7.5% from 1H 2025). Revenue missed analyst estimates by 35%. Earnings per share (EPS) also missed analyst estimates by 7.1%. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 3% per year. New Risk • Mar 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €82.3m (US$95.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€11m net loss in 3 years). Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (€82.3m market cap, or US$95.7m). New Risk • Mar 06
New major risk - Revenue and earnings growth Earnings have declined by 13% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 13% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.1% average weekly change). Price Target Changed • Jan 17
Price target decreased by 27% to €1.75 Down from €2.40, the current price target is an average from 2 analysts. New target price is 8.5% below last closing price of €1.91. Stock is down 29% over the past year. The company is forecast to post a net loss per share of €0.27 next year compared to a net loss per share of €0.31 last year. Announcement • Oct 03
Nightingale Health Oyj, Annual General Meeting, Nov 06, 2025 Nightingale Health Oyj, Annual General Meeting, Nov 06, 2025, at 15:00 FLE Standard Time. Announcement • Sep 19
Nightingale Health Oyj Provides Earnings Guidance for the Year 2025-2026 Nightingale Health Oyj provided earnings guidance for the year 2025-2026. For the year, the company expects Increase revenue by at least 50% compared to the previous financial year. Reported Earnings • Sep 19
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: €0.62 loss per share (further deteriorated from €0.29 loss in FY 2024). Net loss: €18.5m (loss widened 5.7% from FY 2024). Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) also missed analyst estimates by 6.9%. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. New Risk • Sep 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Finnish stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€14m net loss in 3 years). Share price has been volatile over the past 3 months (5.7% average weekly change). Announcement • Jun 14
Nightingale Health Oyj Announces Executive Changes As part of its ambition to strengthen regional commercial activities, Nightingale Health Oyj has appointed Minja Salmio, currently Chief Legal Officer and a key member of Nightingale Health’s management team, as Chief Commercial Officer for the EMEA region. Nightingale Health’s commercial operations are structured around three regions: Asia-Pacific (APAC); Europe, the Middle East and Africa (EMEA); and the Americas. The commercial operations in APAC are led by Satu Saksman, while CEO Teemu Suna continues to lead the business in the Americas for the time being. In her new role, Minja Salmio will be responsible for the EMEA region. In addition to this appointment, Satu Sirén-Lähdeaho, currently Head of Legal, will step into the role of General Counsel. Over her many years at the company, she has been instrumental in the company’s Legal and Compliance function and supporting critical business initiatives. The new appointments will take effect from 13 June 2025. Nightingale Health’s Management Team as of 13 June 2025: Teemu Suna, CEO, Founder; Antti Kangas, CTO, Founder; Satu Saksman, CCO, APAC, Co-founder; Minja Salmio, CCO, EMEA; Salla Ruosaari, Chief R&D Officer; Jeffrey Barrett, CSO; Tuukka Paavola, CFO; Janna Ranta, COO. Major Estimate Revision • Mar 13
Consensus revenue estimates decrease by 20%, EPS upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from €6.50m to €5.20m. EPS estimate increased from -€0.28 to -€0.27 per share. Healthcare industry in Finland expected to see average net income growth of 28% next year. Consensus price target of €2.90 unchanged from last update. Share price rose 12% to €2.85 over the past week. Reported Earnings • Mar 12
First half 2025 earnings: EPS in line with expectations, revenues disappoint First half 2025 results: €0.14 loss per share (improved from €0.14 loss in 1H 2024). Net loss: €8.20m (loss narrowed 3.8% from 1H 2024). Revenue is forecast to grow 43% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Feb 27
Nightingale Health plc Announces the Development of Innovative LLM Based Tool to Empower Everyone to Take Informed Decisions to Lower Disease Risk Nightingale Health Plc announced the development of an innovative LLM based tool to make its results report more interactive and actionable. The tool, powered by large language models (LLMs), leverages the multi-disease risk detection and blood value data from Nightingale Health's proprietary blood test and combines these with publicly available information about which lifestyle interventions most effectively reduce the risk of each disease. The two key features of the LLM tool are helping each person to understand their disease risks more comprehensive without specialized training, and to connect life-style guidance to that person's individual situation. Medical data can be difficult to understand without specialized training. However, a significant amount of public information exists about the meaning of chronic disease risks and common blood values. Nightingale Health's custom LLM tool makes it easy for an individual to get answers to their questions and learn more about the advanced disease risk report and blood values. This empowers everyone to understand more about their personal health. Chronic disease risks can be reduced by well-known lifestyle interventions. However, general guidance tends to work poorly as it is hard to connect to a person's individual situation. A risk report based on information derived from a person's blood sample with tailored guidance makes it easier for them to understand their own situation and motivates them to act. Nightingale Health'scustom LLM tool makes the connection between the risk profile, blood values and lifestyle choices easy to understand. The tool can explain, for example, how lifestyle choices such as sleep and exercise impact the risk of diseases, such as cardiovascular disease risk or type 2 diabetes risk, and how lifestyle is also reflected in blood values such as lipids, sugar metabolism, or low-grade inflammation. In contrast to public health guidance, the information provided is relevant because it is based on person's own risk, and the user can receive guidance based on his or her own interest by choosing the questions for which guidance is requested. The tool is not intended to provide any medical interventions, which continue to be provided by healthcare professionals. People with high risk level or a diagnosed disease are always managed by healthcare professionals. To enable population wide adoption, disease risk detection needs to be performed with minimal burden to healthcare professionals. The upcoming feature provides effective digital health guidance without requiring resources from the healthcare system. Announcement • Nov 06
Nightingale Health Appoints Dr. Charles Alessi as Chief Medical Officer of Nightingale Health UK Nightingale Health has appointed internationally recognised expert in medicine Dr. Charles Alessi as Chief Medical Officer of Nightingale Health UK. Dr. Charles Alessi is a physician with more than 35 years of experience in all aspects of policy and clinical practice in the United Kingdom, Northern Ireland and globally. Alessi's experience includes key positions in some of the world leading organizations in the industry, such as acting as a member of the World Health Organisation's expert panels in neurosciences and dementia risk deduction, Global Chief Clinical Officer at Healthcare Information and Management Systems Society (HIMSS), Senior Advisor to Public Health England and Chairman of National Association of Primary care (NAPC) in the UK. He is also currently advising the chief executive of the International Association of Public Health Institutes (IANPHI) as well as the new public health agency Weqaya in the Kingdom of Saudi Arabia. In these capacities, he has led initiatives around preventative health working at the most senior levels both with governments and corporations. Dr. Charles Alessi has recently been appointed as associate lecturer in medicine at the medical faculty at Anglia Ruskin University in England and as adjunct research professor in Biostatistics and Epidemiology at the University of Western Ontario, Canada. He sits on advisory board of medical technology companies and has published very widely in academic popular journals, as well as co-authoring a book on helping people better manage their risk factors in reducing their risk of cognitive decline. At Nightingale Health, Dr. Alessi will have a key strategic position in bringing the benefits of the company's technology available to customers in the United Kingdom as well as supporting Nightingale Health's global efforts. Major Estimate Revision • Sep 27
Consensus revenue estimates fall by 25% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €8.70m to €6.50m. Forecast losses increased from -€0.27 to -€0.28 per share. Healthcare industry in Finland expected to see average net income growth of 19% next year. Consensus price target up from €1.60 to €2.90. Share price fell 22% to €3.00 over the past week. Announcement • Sep 23
Nightingale Health Oyj, Annual General Meeting, Nov 08, 2024 Nightingale Health Oyj, Annual General Meeting, Nov 08, 2024. Reported Earnings • Sep 20
Full year 2024 earnings: Revenues miss analyst expectations Full year 2024 results: Net loss: €17.5m (loss narrowed 3.4% from FY 2023). Revenue missed analyst estimates by 7.3%. Revenue is forecast to grow 51% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Healthcare industry in Europe. Announcement • Sep 19
Nightingale Health Receives Third Regulatory Approval for Healthcare Use from Health Sciences Authority in Singapore Nightingale Health Plc has received a third regulatory approval from Singapore’s Health Sciences Authority (HSA), the national body that regulates medical devices, therapeutics, and other healthcare products. Nightingale Health has announced earlier this year two approvals that covered the analysis of eight common clinically used biomarkers: total cholesterol, HDL cholesterol, LDL cholesterol, triglycerides, apolipoprotein A1, apolipoprotein B, glucose, and creatinine and the analysis of fatty acids: total fatty acids, polyunsaturated fatty acids, monounsaturated fatty acids, saturated fatty acids, omega-3 fatty acids and omega-6 fatty acids. The third regulatory approval covers the analysis of alanine, glycine, histidine, isoleucine, phenylalanine, tyrosine, valine, total branched-chain amino acids, albumin, and lactate. Since late 2023 Nightingale Health has worked together with Innoquest Diagnostics, a leading clinical diagnostics service provider in Singapore, to enable access to Nightingale Health’s blood analysis technology in Southeast Asia. This third regulatory approval is an important step towards launching Nightingale Health’s comprehensive and high-quality blood testing services in the region. The approval is based on the review of conformity with the safety and performance requirements set for medical devices. The HSA approval means that Nightingale Health’s product satisfies the strict requirements for quality, safety, and efficacy. Being able to comply with some of the world’s strictest regulatory requirements in healthcare demonstrates the applicability of Nightingale Health’s technology in routine blood testing, as it matches the quality of gold standard tests. Moreover, in contrast to the current solutions, Nightingale Health’s technology enhances standard blood testing by offering a comprehensive panel of familiar gold standard biomarkers and, importantly, market-leading risk assessments for multiple chronic diseases from every measured sample. This capability empowers the building of more preventative and sustainable health systems worldwide. Reported Earnings • Mar 11
First half 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First half 2024 results: €0.14 loss per share (in line with 1H 2023). Net loss: €8.53m (flat on 1H 2023). Revenue missed analyst estimates by 25%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 52% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Healthcare industry in Europe. Major Estimate Revision • Mar 10
Consensus EPS estimates upgraded to €0.27 loss, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from €5.00m to €4.70m. 2024 losses expected to reduce from -€0.32 to -€0.27 per share. Healthcare industry in Finland expected to see average net income growth of 24% next year. Consensus price target up from €1.10 to €1.25. Share price fell 3.5% to €1.06 over the past week. Announcement • Feb 23
Nightingale Health Oyj Receives Regulatory Approval for Healthcare Use from Health Sciences Authority in Singapore Nightingale Health Oyj received regulatory approval from Singapore's Health Sciences Authority (HSA). This first approval covers the analysis of eight common clinically used biomarkers: total cholesterol, HDL cholesterol, LDL cholesterol, triglycerides, apolipoprotein A1, apolipoprotein B, glucose, and creatinine. Nightingale Health announced in November 2023 a collaboration agreement with Innoquest Diagnostics, a leading clinical diagnostics service provider in Singapore, to enable access to Nightingale Health's blood analysis technology in Southeast Asia. The regulatory approval is an important step towards launching Nightingale Health's comprehensive and high-quality blood testing services. The approval is based on the review of conformity with the safety and performance requirements set for medical devices. The HSA approval means that Nightingale Health's product satisfies the strict requirements for quality, safety, and efficacy. Being able to comply with some of the world's strictest regulatory requirements in healthcare demonstrates the applicability of Nightingale Health's technology in routine blood testing, as it matches the quality of gold standard tests. Moreover, in contrast to the current solutions, Nightingale Health's technology enhances standard blood testing by offering a comprehensive panel of familiar gold standard biomarkers and, importantly, market-leading risk assessments for multiple chronic diseases from every measured sample. This capability empowers the building of more preventative and sustainable health systems worldwide. Announcement • Jan 31
Nightingale Health plc Receives Five New Patents for Its Proprietary Health Risk Detection Capability Nightingale Health Plc has received five new patents from the Finnish Patent and Registration Office. Nightingale Health announced during 2023 that it had received nine patents, and with these five new patents the company's patent portfolio expands to cover additional health areas such as infectious diseases and anemia. The first of the newly received patents was granted for the company's proprietary technology's ability to determine whether an individual is at risk of developing a musculoskeletal and/or connective tissue disease such as osteoarthritis. The second patent was granted for the ability to determine whether an individual is at risk of developing an infectious disease or a complication thereof. The third patent was granted for the ability to determine whether an individual is at risk of developing anemia. The fourth and fifth patents were granted for the ability to determine whether an individual is at risk of developing a metabolic condition related to nutritional state or fluid balance. Understanding and managing these conditions is important for maintaining health and preventing chronic diseases. The patents increase the value of the company's intellectual property assets. In addition to the patents granted in Finland, the company has several international patent applications pending. Announcement • Dec 13
Nightingale Health Completes the Analysis of All 500,000 UK Biobank Samples Creating the Largest Blood Biomarker Database for Chronic Disease Research and Prevention Nightingale Health Plc announced that it has completed the analysis of blood samples from all 500,000 UK Biobank participants. UK Biobank is the world's most comprehensive source of health data used for research, renowned for its vast and continuously growing dataset of biological, health and lifestyle information. The de-identified data is globally accessible to approved researchers who are undertaking health-related research that is in the public interest. The analysis results will be made available to UK Biobank's over 30,000 registered researchers from over 90 countries. Nightingale Health stands out as the sole broad biomarker profiling provider to analyze all 500,000 samples in the UK Biobank. This unique position comes from Nightingale Health's technology's ability to analyze vast numbers of samples at a quality and cost level that no other technology can match. With Nightingale Health's biomarkers integrated into UK Biobank's database, the company has become the leading source of blood biomarker data for scientific research. More crucially, the wide scientific use of Nightingale Health's biomarkers has already enabled the company's technology to be routinely adopted in clinical settings, marking a leap forward in chronic disease treatment and prevention. Nightingale Health's technology, a global standard in population studies and large biobanks, has been used to analyze over 2.1 million blood samples to date. This broad use is reflected in more than 530 peer-reviewed publications by scientists from 170 institutions in 34 countries. The results analyzed from each blood sample include 250 biomarkers, of which 39 are clinically validated and can be used in the same way as traditional clinical biomarkers. In addition to research, Nightingale Health's technology is entering wide-scale clinical use. In Finland, the country's largest private healthcare provider, Terveystalo, has replaced aging clinical chemistry tools with Nightingale Health's biomarkers and risk prediction models in routinely performed health checks which cover approximately 30% of the Finnish working population. In addition to Finland, the clinical use of the technology is expanding to healthcare providers in Singapore via Innoquest Diagnostics and to other Southeast Asian countries through Pathology Asia group companies. The access to Nightingale Health's biomarker data via UK Biobank paves the way for further national implementations worldwide as the advancements of the technology can be transparently validated, helping healthcare systems enter the era of preventative health. Announcement • Nov 29
Nightingale Health plc Announces Maximilian Leroux Leaves as Chief Commercial Officer Maximilian LeRoux, who has worked as Nightingale Health Plc's Chief Commercial Officer since August 2023, has left the company as of 27 November 2023. LeRoux's responsibilities will, for the time being, be transferred to other Management Team members of Nightingale Health Plc. Reported Earnings • Sep 29
Full year 2023 earnings: Revenues miss analyst expectations Full year 2023 results: Net loss: €18.1m (loss widened 12% from FY 2022). Revenue missed analyst estimates by 2.7%. Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Healthcare industry in Europe. Announcement • Sep 26
Nightingale Health Receives Three New Patents Further Strengthening Its IP Portfolio Nightingale Health Plc has received three new patent approvals from the Finnish Patent Authority. Nightingale Health announced on 23 May 2023 that it had received six patent approvals and with these three new patents the company's patent portfolio expands to self-collected finger-prick blood samples and more disease areas. The first of the newly received patents was granted for the company's proprietary technology's ability to determine with selected biomarkers analyzed from a dry blood sample, collected from a finger prick, whether an individual has a disease or condition or is at risk of developing a disease or condition. The second patent was granted for the ability to determine whether an individual is at risk of developing an anxiety disorder. The third patent was granted for the ability to determine whether an individual is at risk of developing a connective tissue disease such as rheumatoid arthritis. The patents further increase the value of the company's intellectual property assets. Nightingale Health has several other patent applications pending at the Finnish Patent Authority. The company is also in the process of expanding its patents internationally. Announcement • Aug 18
Nightingale Health Rolls Out Remote Blood Collection Kit for Medical Research and Clinical Trials Nightingale Health Plc has rolled out a remote blood collection kit for its medical research and clinical trial customers. This launch follows the company's acquisition of the worldwide license and rights to the Velvet(TM) self-collection device in January 2023. Nightingale Kit and its self-collection device allow study participants to draw their own blood sample from a finger-prick. This creates substantial flexibility and enables study designs that have previously been constrained by geographical and logistic limitations. Additionally, since Nightingale Health provides both sample collection and sample analysis, remote blood collection can be incorporated into studies in a seamless, cost-efficient way. The biomarkers analyzed for research use from the dry blood sample taken with Nightingale Kit cover a wide range of biological functions, including lipids (e.g., LDL cholesterol, HDL cholesterol, triglycerides, ApoA1, and ApoA), insulin sensitivity (amino acids), dietary intake (e.g., omega-3 and omega-6 fatty acids), chronic inflammation (GlycA), fluid balance (e.g., albumin), and kidney function (e.g., creatinine). Announcement • Jun 16
Nightingale Health plc Announces Population Study Combining Blood Biomarkers and Genetics Demonstrates Nightingale Health Plc has published a pre-print showcasing the accuracy and performance of its blood biomarker-based risk prediction models on a scale that has not been done before. The now-announced population study includes three national biobanks totaling half a million blood samples from Estonia, Finland, and the United Kingdom. In early 2022, Nightingale Health announced its expansion to genetics by acquiring a Finnish genetic testing company and launching an international center of excellence for genomic data analysis. As part of this initiative, Nightingale Health has now completed a study combining blood biomarkers and genetics on an unprecedented scale. The population study findings show that Nightingale Health’s risk prediction models, based on blood biomarkers, have better risk detection capabilities for quality-of-life lowering diseases than polygenic risk scores alone, which reflect inherited risks. The study results show that Nightingale Health’s risk prediction models successfully identify more high-risk individuals than polygenic risk scores for 10 of the 12 diseases studied. The diseases included in the study are the twelve leading causes of disability-adjusted life years (DALYs) in high-income countries: myocardial infarction, ischemic stroke, intracerebral hemorrhage, lung cancer, type 2 diabetes, COPD, Alzheimer's disease, dementia, depressive disorders, alcoholic liver disease, cirrhosis of the liver, and colon and rectum cancers. These diseases are also the biggest source of healthcare costs and, therefore, the most important to predict and prevent. Polygenic risk scores have received recent attention as a key enabler of preventative health. However, the new study shows that genomic data alone is not a solution for accurate disease risk prediction. Risk models based on blood biomarkers provide more accurate and actionable information, and when combined with polygenic risk scores, they provide a superior tool for finding people at high risk and targeting them with preventative actions. The combination of blood biomarkers and genetic data takes into account both inherited static risks and dynamic risks that reflect lifestyle. Additionally, the study confirms the company’s risk prediction models can be used for continuous health monitoring and measuring the effects of preventative actions. A subset of individuals in the study had donated two blood samples five years apart, and Nightingale Health’s risk prediction models successfully captured changes in disease risks after the individuals had made lifestyle changes. By contrast, since polygenic risk scores remain the same throughout life, they cannot show progress in response to better lifestyle choices. The company’s risk prediction models are generated from a single standard clinical blood sample and include clinically validated biomarkers, many of which are already familiar in clinical practice, such as cholesterol, glucose, and creatinine. In addition to 39 clinically validated biomarkers, the company can provide over 200 additional biomarkers for research use – all of which have been analyzed from the same standard blood sample in one test. The study demonstrates the expansion of the company's risk prediction models to large-scale use, thereby enabling a broad implementation of preventative healthcare strategies worldwide. Announcement • Jun 07
Nightingale Health plc Announces Biomarker Results of Additional 200,000 Blood Samples Soon Available to Researchers Globally Nightingale Health Plc announced that the biomarker results from additional 200,000 blood samples from UK Biobank are being made accessible to researchers. This large-scale release of biomarker results further increases the use of Nightingale Health's technology in global medical research. Currently, UK Biobank has over 30,000 registered researchers from over 90 countries. The biomarker results will be released in July 2023 through UK Biobank's online Research Analysis Platform. In 2021, UK Biobank made accessible to approved researchers the metabolomic biomarker values analyzed by Nightingale Health from approximately 100,000 blood samples from UK biobank's cohort of 500,000 UK volunteers. As an outcome of making the biomarker data available, researchers globally have already published well over 50 peer-reviewed publications, with new ones published weekly. The breadth of applications spans biomarker discovery, disease risk prediction, molecular disease mechanisms, and drug development. The focus areas include heart disease, diabetes, obesity, neurological disorders, infections, and several cancers. Data on these additional 200,000 UK Biobank samples has been available for Nightingale Health and its collaborators before the forthcoming release. One such collaborator is the Broad Institute of MIT and Harvard, a research organization that convenes a community of researchers from across many disciplines and partner institutions-MIT, Harvard, and Harvard-affiliated hospitals. Scientists from the Broad Institute are using the data to investigate sub-types of type 2 diabetes which may have different responses to treatment. As part of the work, the scientists have replicated findings from the initial biomarker results from 100,000 blood samples to the new set of results from 200,000 blood samples. Nightingale Health's technology has been used in population studies and large biobanks for several years with the number of samples analyzed totaling close to 2 million. The results analyzed from each blood sample include 250 biomarkers, of which 39 are clinically validated and can be used in the same way as traditional clinical biomarkers. Nightingale Health’s bold approach of analyzing all of UK Biobank’s half a million samples allows the company to better serve medical researchers globally. Additionally, it highlights Nightingale Health’s positive impact on society since the analysis results provided by the company are used by researchers to study and create more knowledge of diseases that put the most significant strain on society, such as cardiovascular diseases and type 2 diabetes. The approach also paves the way for innovative clinical applications using the company’s proprietary technology, which can potentially help prevent and treat diseases for individuals and benefit the entire healthcare system. Announcement • May 23
Nightingale Health Receives Six Patent Approvals for Its Proprietary Health Risk Detection Platform Nightingale Health Plc has continued its long-term efforts regarding patenting its risk detection capabilities and, subsequently, cumulated six patent approvals from the Finnish Patent Authority during the past months. The patents were granted for the company's health risk detection platform's ability to determine whether an individual is at risk of developing renal disease, atrial fibrillation, digestive system disease, and pre-eclampsia. Additionally, patents were granted for the ability to determine whether an individual is at risk of dying from breast cancer and risk of dying from prostate cancer. The acquired patents further recognize the company's health risk detection platform's novel ability to determine disease risks for a variety of diseases from one blood sample. This builds on top of the company's existing regulatory approvals and broad scientific validation. In addition to the recently granted patents, Nightingale Health has several other patent applications pending at the Finnish Patent Authority. The company is also in the process of expanding its patents internationally. Announcement • May 09
Nightingale Health Appoints Maximilian LeRoux as Chief Commercial Officer, Effective August 1, 2023 Nightingale Health appointed Maximilian LeRoux as Chief Commercial Officer. LeRoux will join Nightingale Health's management team as of 1 August 2023 at the latest. LeRoux has over 20 years' experience of international business, and he has held a number of commercial leadership positions in sales and marketing, including at Dell Technologies (Texas, US), Savox Communications (Helsinki, Finland and New York, US) and others. LeRoux joins Nightingale Health from Mimi Hearing Technologies, a Berlin based scale-up company and the global leader in sound personalization and hearing wellbeing, where he held a position of Chief Commercial Officer. Before that he was the co-founder and CEO of AINA PTT a company providing critical communications solutions, building the company ground-up to a globally recognized brand within its industry. LeRoux holds a master's degree in economics from Goethe University in Frankfurt, Germany. At Nightingale Health, LeRoux will have a key role in growing the B2B sales in accordance with the company's ambitious targets. Reported Earnings • Mar 27
First half 2023 earnings: EPS in line with analyst expectations despite revenue beat First half 2023 results: €0.14 loss per share (further deteriorated from €0.10 loss in 1H 2022). Net loss: €8.55m (loss widened 49% from 1H 2022). Revenue is forecast to grow 46% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Healthcare industry in Europe. Major Estimate Revision • Mar 26
Consensus revenue estimates increase by 48%, EPS downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from €2.90m to €4.30m. EPS estimate fell from -€0.28 to -€0.32 per share. Healthcare industry in Finland expected to see average net income growth of 14% next year. Consensus price target of €1.30 unchanged from last update. Share price was steady at €1.20 over the past week. Price Target Changed • Nov 16
Price target decreased to €1.40 Down from €4.00, the current price target is provided by 1 analyst. New target price is 17% above last closing price of €1.20. Stock is down 69% over the past year. The company is forecast to post a net loss per share of €0.22 next year compared to a net loss per share of €0.27 last year. Reported Earnings • Sep 30
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Net loss: €15.4m (loss widened 37% from FY 2021). Revenue missed analyst estimates by 26%. Price Target Changed • Apr 27
Price target decreased to €4.00 Down from €6.00, the current price target is provided by 1 analyst. New target price is 113% above last closing price of €1.88. Stock is down 67% over the past year. The company is forecast to post a net loss per share of €0.18 next year compared to a net loss per share of €0.27 last year. Major Estimate Revision • Mar 03
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €2.90m to €3.00m. Forecast EPS reduced from -€0.13 to -€0.18 per share. Healthcare industry in Finland expected to see average net income growth of 26% next year. Consensus price target down from €6.00 to €4.00. Share price was steady at €2.22 over the past week. Reported Earnings • Sep 16
Full year 2021 earnings released: €0.27 loss per share (vs €0.085 loss in FY 2020) Full year 2021 results: Net loss: €11.2m (loss widened 200% from FY 2020). Executive Departure • May 12
Chief Product Officer has left the company On the 4th of May, Osma Ahvenlampi's tenure in the role of Chief Product Officer ended. We don't have any record of a personal shareholding under Osma's name. Osma is the only executive to leave the company over the last 12 months. Announcement • Mar 21
Nightingale Health Oyj has completed an IPO in the amount of €137.499998 million. Nightingale Health Oyj has completed an IPO in the amount of €137.499998 million.
Security Name: B Shares
Security Type: Common Stock
Securities Offered: 20,370,370
Price\Range: €6.75
Transaction Features: Regulation S 
