Announcement • Aug 01
Atrys Health, S.A. to Report First Half, 2026 Results on Sep 10, 2026 Atrys Health, S.A. announced that they will report first half, 2026 results on Sep 10, 2026 Buy Or Sell Opportunity • Jun 03
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at €2.79. The fair value is estimated to be €2.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 8.0%. New Risk • May 19
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€14m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. This is currently the only risk that has been identified for the company. Announcement • May 16
Atrys Health, S.A. to Report Q1, 2026 Results on May 13, 2026 Atrys Health, S.A. announced that they will report Q1, 2026 results on May 13, 2026 Announcement • May 15
Atrys Health, S.A., Annual General Meeting, Jun 18, 2026 Atrys Health, S.A., Annual General Meeting, Jun 18, 2026. Location: calle juan bravo 3, planta sotano, madrid., Spain New Risk • Apr 21
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -€14m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. This is currently the only risk that has been identified for the company. New Risk • Apr 10
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue 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. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 06
Full year 2025 earnings released: €1.32 loss per share (vs €0.42 loss in FY 2024) Full year 2025 results: €1.32 loss per share (further deteriorated from €0.42 loss in FY 2024). Revenue: €145.0m (down 34% from FY 2024). Net loss: €55.4m (loss widened 75% from FY 2024). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. New Risk • Mar 10
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 Spanish stocks, typically moving 4.7% 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. This is currently the only risk that has been identified for the company. Price Target Changed • Jan 17
Price target decreased by 8.1% to €5.70 Down from €6.20, the current price target is an average from 4 analysts. New target price is 86% above last closing price of €3.06. Stock is down 15% over the past year. The company is forecast to post a net loss per share of €0.25 next year compared to a net loss per share of €0.42 last year. Announcement • Jun 11
An undisclosed buyer signed a letter of intent to acquire Aspy Global Services, S.A. from Atrys Health, S.A. (BME:ATRY). An undisclosed buyer signed a letter of intent to acquire Aspy Global Services, S.A. from Atrys Health, S.A. (BME:ATRY) on June 11, 2025.
The transaction is subject to approval of merger agreement by target board. New Risk • May 20
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 Spanish stocks, typically moving 5.4% 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. This is currently the only risk that has been identified for the company. Announcement • May 08
Atrys Health, S.A., Annual General Meeting, Jun 12, 2025 Atrys Health, S.A., Annual General Meeting, Jun 12, 2025. Location: fundacion renta 4, paseo de la habana 74., madrid Spain Reported Earnings • Mar 31
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: €0.42 loss per share (further deteriorated from €0.40 loss in FY 2023). Revenue: €225.0m (up 9.2% from FY 2023). Net loss: €31.6m (loss widened 3.8% from FY 2023). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 107%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. New Risk • Mar 18
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 Spanish stocks, typically moving 4.9% 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 Less than 1 year of cash runway based on current free cash flow (-€25m). Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (4.9% average weekly change). New Risk • Feb 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€25m). Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). New Risk • Dec 24
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 Spanish stocks, typically moving 4.4% 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 Less than 1 year of cash runway based on current free cash flow (-€25m). Share price has been volatile over the past 3 months (4.4% average weekly change). Major Estimate Revision • Dec 15
Consensus EPS estimates fall by 39% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.124 to -€0.172 per share. Revenue forecast of €220.4m unchanged since last update. Healthcare industry in Spain expected to see average net income growth of 25% next year. Consensus price target of €6.40 unchanged from last update. Share price was steady at €3.02 over the past week. Major Estimate Revision • Nov 03
Consensus EPS estimates fall by 32% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.094 to -€0.124 per share. Revenue forecast of €220.4m unchanged since last update. Healthcare industry in Spain expected to see average net income growth of 24% next year. Consensus price target broadly unchanged at €6.43. Share price was steady at €3.16 over the past week. Major Estimate Revision • Oct 22
Consensus EPS estimates upgraded to €0.094 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -€0.12 per share to -€0.094 per share. Revenue forecast reaffirmed at €220.4m. Healthcare industry in Spain expected to see average net income growth of 18% next year. Consensus price target of €6.40 unchanged from last update. Share price was steady at €3.36 over the past week. Major Estimate Revision • Aug 02
Consensus EPS estimates fall by 22% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.033 to -€0.04 per share. Revenue forecast of €220.4m unchanged since last update. Healthcare industry in Spain expected to see average net income growth of 25% next year. Consensus price target down from €6.57 to €6.40. Share price fell 11% to €3.13 over the past week. Reported Earnings • Mar 31
Full year 2023 earnings released: €0.60 loss per share (vs €0.34 loss in FY 2022) Full year 2023 results: €0.60 loss per share (further deteriorated from €0.34 loss in FY 2022). Revenue: €207.0m (up 7.9% from FY 2022). Net loss: €30.4m (loss widened 31% from FY 2022). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 27% per year whereas the company’s share price has fallen by 32% per year. Major Estimate Revision • Mar 30
Consensus EPS estimates fall by 65% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -€0.199 to -€0.328 per share. Revenue forecast unchanged at €212.9m. Healthcare industry in Spain expected to see average net income growth of 36% next year. Consensus price target of €6.61 unchanged from last update. Share price fell 2.8% to €3.07 over the past week. Major Estimate Revision • Mar 20
Consensus EPS estimates fall by 25% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €222.3m to €214.0m. Losses expected to increase from €0.16 per share to €0.20. Healthcare industry in Spain expected to see average net income growth of 24% next year. Consensus price target down from €6.94 to €6.61. Share price fell 3.8% to €3.00 over the past week. New Risk • Feb 06
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 Spanish stocks, typically moving 4.4% 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Feb 02
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to €3.19. The fair value is estimated to be €4.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 63% over the last 3 years. Earnings per share has declined by 39%. Announcement • Dec 15
Arraigo Midco Sl acquired a 75% stake in Professional Group Conversia, S.L.U from Atrys Health, S.A. (BME:ATRY) for €35 million. Arraigo Midco Sl acquired a 75% stake in Professional Group Conversia, S.L.U from Atrys Health, S.A. (BME:ATRY) for €35 million on December 13, 2023.
Arraigo Midco Sl completed the acquisition of a 75% stake in Professional Group Conversia, S.L.U from Atrys Health, S.A. (BME:ATRY) on December 13, 2023. Price Target Changed • Nov 21
Price target decreased by 8.4% to €7.23 Down from €7.90, the current price target is an average from 3 analysts. New target price is 98% above last closing price of €3.65. Stock is down 37% over the past year. The company is forecast to post a net loss per share of €0.048 next year compared to a net loss per share of €0.34 last year. Reported Earnings • Oct 05
First half 2023 earnings released: €0.17 loss per share (vs €0.044 loss in 1H 2022) First half 2023 results: €0.17 loss per share (further deteriorated from €0.044 loss in 1H 2022). Revenue: €120.3m (up 33% from 1H 2022). Net loss: €13.1m (loss widened 372% from 1H 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. New Risk • Oct 01
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -€28m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€28m). Shareholders have been diluted in the past year (3.2% increase in shares outstanding). New Risk • Jun 27
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 Spanish stocks, typically moving 4.7% 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 Share price has been volatile over the past 3 months (4.7% average weekly change). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Price Target Changed • Jun 13
Price target decreased by 15% to €8.85 Down from €10.47, the current price target is an average from 2 analysts. New target price is 78% above last closing price of €4.98. Stock is down 29% over the past year. The company is forecast to post earnings per share of €0.10 next year compared to a net loss per share of €0.34 last year. Reported Earnings • Mar 30
Full year 2022 earnings released: €0.34 loss per share (vs €0.46 loss in FY 2021) Full year 2022 results: €0.34 loss per share. Revenue: €187.0m (up 51% from FY 2021). Net loss: €23.2m (flat on FY 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Healthcare industry in Europe. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Aurora Cata Room was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Oct 14
Price target decreased to €10.46 Down from €11.52, the current price target is an average from 3 analysts. New target price is 79% above last closing price of €5.84. Stock is down 42% over the past year. The company is forecast to post earnings per share of €0.25 next year compared to a net loss per share of €0.46 last year. Reported Earnings • Oct 03
First half 2022 earnings released: EPS: €0 (vs €0.084 loss in 1H 2021) First half 2022 results: EPS: €0 (improved from €0.084 loss in 1H 2021). Revenue: €92.4m (up 115% from 1H 2021). Net loss: €3.14m (loss narrowed 4.8% from 1H 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Healthcare industry in Europe. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Aurora Cata Room was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 06
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: €0 (down 100% from FY 2020). Net loss: €23.2m (loss widened €21.2m from FY 2020). Profit margin: (up from net loss in FY 2020). The move to profitability was driven by lower revenue. Revenue missed analyst estimates by 100%. Buying Opportunity • Jan 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.6%. The fair value is estimated to be €11.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 70% per annum over the last 3 years. The company became loss making over the last 3 years. Price Target Changed • Jul 15
Price target increased to €11.39 Up from €10.18, the current price target is an average from 2 analysts. New target price is 18% above last closing price of €9.64. Stock is up 8.6% over the past year. Announcement • Jun 09
Atrys Health, S.A. (BME:ATRY) signed an agreement to acquire Genetyca. Atrys Health, S.A. (BME:ATRY) signed an agreement to acquire Genetyca on June 7, 2021. The transaction will be financed with the company's own resources and does not involve the issuance of new Atrys shares. The transaction is expected to be completed before June 30, 2021. Announcement • May 13
An unknown buyer acquired 5% stake in Atrys Health, S.A. (BME:ATRY) from Inversiones Industriales Serpis S.L. An unknown buyer acquired 5% stake in Atrys Health, S.A. (BME:ATRY) from Inversiones Industriales Serpis S.L. on May 10, 2021. Under the terms of transactions, an unknown will acquire all 1.8 million shares held by Inversiones Industriales Serpis S.L.
An unknown buyer completed the acquisition of 5% stake in Atrys Health, S.A. (BME:ATRY) from Inversiones Industriales Serpis S.L. on May 10, 2021. Price Target Changed • Feb 10
Price target raised to €10.18 Up from €8.43, the current price target is an average from 2 analysts. The new target price is 6.9% above the current share price of €9.52. As of last close, the stock is up 90% over the past year. Announcement • Feb 09
Kantaro and Atrys Health Partnership Expand Global Footprint of Quantitative COVID-19 Antibody Tests in Europe and South America Kantaro Biosciences, LLC entered into a marketing and distribution agreement with Atrys Health. Atrys Health will offer COVID-SeroKlir and COVID-SeroIndex, Kantaro's quantitative SARS-CoV-2 IgG antibody test kits, in select European and South American territories, including Spain, Portugal, Colombia, Brazil, Peru and Chile. The Kantaro tests have received a CE Mark for detecting the presence and precise level of neutralizing IgG antibodies that are produced as part of the immune response to COVID-19 virus exposure. The Kantaro tests are also the first and only quantitative antibody tests that do not require proprietary equipment, meaning they can be run easily in any approved clinical laboratory. Quantitative testing for neutralizing antibodies can inform healthcare decision-making and public health policies worldwide. COVID-SeroKlir and COVID-SeroIndex are enzyme-linked immunosorbent assays (ELISA) that have demonstrated 97.8% sensitivity and 99.6% specificity for detecting COVID-19 IgG antibodies, making them highly accurate with low potential for false results. The high precision results from a two-step process that utilizes two virus antigens: the receptor-binding domain (RBD) and the full-length spike protein. The underlying technology in the Kantaro quantitative antibody test is based on research performed at the Icahn School of Medicine at Mount Sinai in New York City. The Mount Sinai technology has already been used in a highly diverse population of over 86,000 patient samples to screen for convalescent plasma donors and determine past infections in the clinical assessment of potentially life-threatening complications from COVID-19, including lung, kidney and cardiovascular disease. This technology has been utilized extensively in peer-reviewed research published in Science and Nature. Is New 90 Day High Low • Jan 20
New 90-day high: €10.20 The company is up 42% from its price of €7.16 on 22 October 2020. The Spanish market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.18 per share. Is New 90 Day High Low • Dec 31
New 90-day high: €8.90 The company is up 19% from its price of €7.50 on 02 October 2020. The Spanish market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.25 per share. Announcement • Nov 11
Atrys Health, S.A. (BME:ATRY) acquired 91.7% stake in Grupo Lenitudes SGPS, SA from MCH Iberian Capital Fund III, FCR managed by MCH for €19.6 million. Atrys Health, S.A. (BME:ATRY) acquired 91.7% stake in Grupo Lenitudes SGPS, SA from MCH Iberian Capital Fund III, FCR managed by MCH for €19.6 million on November 10, 2020. Under the terms of the transaction, Atrys Health will issue 2.3 million shares at a value of €7.25 per share as consideration. Pursuant to this, MCH will become a shareholder of Atrys Health.
Atrys Health, S.A. (BME:ATRY) completed the acquisition of a 91.7% stake in Grupo Lenitudes SGPS, SA from MCH Iberian Capital Fund III, FCR managed by MCH on November 10, 2020. Is New 90 Day High Low • Nov 04
New 90-day high: €7.86 The company is up 7.0% from its price of €7.34 on 05 August 2020. The Spanish market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €24.31 per share. Announcement • Oct 06
Atrys Health, S.A. (BME:ATRY) acquired Instituto de Estudios Celulares y Moleulares S.A. Atrys Health, S.A. (BME:ATRY) acquired Instituto de Estudios Celulares y Moleulares S.A on October 1, 2020. The transaction will be financed with a budget of €60 million, divided into a capital increase for € 35 million, its second MARF bond program for another €15 million and a convertible loan of €10 million. Instituto de Estudios Celulares y Moleulares S.A reported revenues of €2.9 million. Inmaculada Castelló of Pinsent Masons acted as legal advisor to Atrys Health, S.A.
Atrys Health, S.A. (BME:ATRY) completed the acquisition of Instituto de Estudios Celulares y Moleulares S.A on October 1, 2020. Announcement • Aug 20
Atrys Health, S.A. (BME:ATRY) acquired Axismed Gestão Preventiva da Saúde S.A. from Telefónica Digital España, S.L. for BRL 14 million. Atrys Health, S.A. (BME:ATRY) acquired Axismed Gestão Preventiva da Saúde S.A. from Telefónica Digital España, S.L. for BRL 14 million on August 19, 2020. The consideration include BRL 10 million of cash and additional BRL 4 million payment which is conditional on the maintenance of the AxisMed's billing level for a number of customers until the end of the 2022 financial year. The acquisition of Axismed Gestão Preventiva de Saúde will be financed with Atrys own resources.
Atrys Health, S.A. (BME:ATRY) completed the acquisition of Axismed Gestão Preventiva da Saúde S.A. from Telefónica Digital España, S.L. on August 19, 2020. Announcement • Jul 30
Atrys Health, S.A. announced that it has received €35.2 million in funding Atrys Health, S.A. (BME:ATRY) announced a private placement of 8,000,000 common shares at an issue price of €4.40 per share for the gross proceeds of €35,200,000 on July 24, 2020. The transaction included participation from qualified investors. Announcement • Jun 19
Atrys Health, S.A. (BME:ATRY) signed a binding offer to acquire ITMS AG. Atrys Health, S.A. (BME:ATRY) signed a binding offer to acquire ITMS AG on June 17, 2020. The consideration of the transaction includes a fixed payment to be made in cash and a payment, also in cash, of a two-year 'earn out' based on the evolution of the ITMS’s EBITDA. As per the transaction, ITMS will be integrated into Atrys Health. The transaction will be financed from by combining a capital increase of €35 million, the issuance of a convertible bond of €10 million and the issuance of a new MARF Bond Program for which the amount of €15 million will be available. In the event of achieving 100% of the EBITDA target set for the accrual of 100% of the earn-out, the EV/EBITDA multiple of the operation will amount to 8.5x. For the year ending December 31, 2019, ITMS reported turnover of €23.1 million, adjusted EBITDA of €4.7 million, and net debt of €2.2 million. The ITMS management team will remain in office. The completion of the operation is subject to the signing of the purchase-sale contract, disbursement of the price by ATRYS and to the execution of the corresponding social agreements by the usual ITMS. The transaction is estimated to be completed by the end of July 2020. The transaction is accretive in terms of EBITDA.
Inmaculada Castelló of Pinsent Masons acted as the legal advisor to Atrys Health. 
