reports
- Maria Karlsson Osipova
BrainCool (Buy, TP: SEK3.00) - Still on course
Although Q1 revenues grew to SEK11m (+24% YOY), they fell shy of our expectation of SEK19m. The gross margin improved further to 29% and the EBITDA loss narrowed to SEK7m. Cash flow was pressured by inventory buildup and delayed receivables due to a transition in shipping. Despite headwinds, we view the strong growth in consumables (60% increase in pads sold YOY) as a sign of resilience in a seasonally weak quarter. We reiterate our BUY and SEK3 target price.
- Maria Karlsson Osipova
BrainCool - Initiation of coverage - Hot shot in surface cooling marke...
BrainCool is a Swedish-based medtech company in an early commercial stage. With only a few competitors in the field of surface cooling and a distributor partnership with ZOLL, we believe its growth journey is set to accelerate in 2025. We initiate coverage with a BUY and target price of SEK3.
European Medical Device Firm BrainCool AB Receives New 510(k) Clearanc...
LUND, Sweden--(BUSINESS WIRE)-- European medical device company BrainCool AB (publ) has received 510(k) clearance from the US Food and Drug Administration (FDA) to market its second product in the United States, the IQoolTM Warm System, with an indication for use of thermal regulation to cool and rewarm adult patients when clinically indicated. The new system adds important features to the company’s first product, which was cleared by the FDA in May, 2017, with the indication to cool patients using its patented anatomically-targeted t...
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