Prisinformation från TradingView

Bolagspresentation:

Nyhetsflöde Napatech

Related articles:
2/29/2024 11:50:58 AM - Napatech: '25-'26 ambition implies P/E 5.5-3.9x - ABG - We lower '24e revenue by 8%, but lift '26e by 28%<br>'25-'26 ambition of 30-40k units implies EPS of NOK 3.4-4.7...<br>...corresponding to PE ratios of 5.5-3.9x
2/28/2024 9:00:54 AM - Napatech: Optimistic for major design wins in '24 - ABG - Q4: Strong GM, but EBITDAC 9% below<br>Say new '24 design wins could add 30-40k units annually in '25/'26<br>Share likely to outperform today on optimistic outlook
2/26/2024 6:27:58 AM - Napatech: 2024 could be a catalyst year - ABG - Potential for transformative design wins in next 12 months<br>We forecast 40% revenue CAGR '24e-'26e<br>If successful: our different scenarios imply P/Es of 10x, 2.6x and 1.0x
11/2/2023 7:47:54 AM - Napatech: Q3 beat, reiterates FY guidance - ABG - EBITDAC DKK 18m above on higher GM and lower opex<br>Reiterates FY'23 guidance (corresponding to +20% y-o-y growth)<br>Still sees caution in IT investments
8/29/2023 7:01:04 AM - Napatech: Tough market, but transformative year ahead - ABG - Sales continue to be affected by slowdown...<br>...but demand should come up in H2...<br>...and transformative deals could materialise in next 12 months
8/24/2023 7:47:51 AM - Napatech: Market conditions continue to be challenging - ABG - Challening market continues to affect sales<br>Reiterates FY'23 guidance<br>Product development in focus
8/20/2023 4:44:31 PM - Napatech: Slowdown in server market likely affected Q2 - ABG - Lower demand continued to affect sales in Q2e<br>Expect FY'23 sales at low end of guidance<br>Fair value range of NOK 10-18 (10-19)
5/3/2023 7:49:24 AM - Napatech: Better CF driven by lower capex - ABG - Q1: Sales 9% above, gross profit 1% above<br>Reiterates '23 guidance: 20% y-o-y growth on midpoint<br>Recent design wins could start to materialise in H2
4/3/2023 5:43:24 AM - Napatech: Large potential but patience is needed - ABG - Expect DKK 34m in sales and EBITDAC of DKK -19m<br>2023 will be an important year for product development<br>Fair value range of NOK 10-19 (10-20)
2/28/2023 8:41:05 AM - Napatech: Soft end to a challenging 2022 - ABG - Revenue significantly below our estimate in Q4...<br>...and revenue guidance for '23 is 25% below<br>Negative estimate revisions to cons
2/27/2023 7:13:56 AM - Napatech: 2023 set to be an exciting year - ABG - Expect DKK 51m in sales and EBITDAC of DKK -5m<br>Looks set to reach new milestones in 2023<br>Fair value range of NOK 10-20 (13-18)
11/30/2022 12:09:26 PM - Napatech - Challenging market conditions continued in Q3 - ABG - Sales continue to be affected by a challenging market2022 sales guidance lowered by 11% - well below our estimate
11/24/2022 9:01:55 AM - Napatech: Strategic partnerships starting to materialise - ABG - Challenging year outweighed by record large order in ’23 Could play a role in further market consolidation Fair value range of NOK 13-18/share 2022 will be another challenging year… Napatech is scheduled to report its Q3 results on 30 Nov. Q2 sales were down 33% y-o-y (adj. for FX) and 37% below our estimate, largely due to larger OEMs shifting order timing. Consequently, the company lowered its FY sales guidance by 16% to DKK 195-220m and now expects an EBITDAC of DKK -4.8m on a midpoint basis. This compares to our estimates of DKK 204m in sales and an EBITDAC of DKK -12m. For Q3, we believe that the market remained challenging and consequently forecast sales of DKK 45m (-4% y-o-y, -21% FX adj.) and EBITDAC of DKK -9m. …but record-high order gives confidence in ’23 and beyond Napatech was awarded a significant new design win in Q2 with delivery in 2023, and with potential FY revenue of USD 10-15m, i.e. ~37-56% of LTM sales. The customer is a “multi-billion-dollar global leader in network and security solutions”, i.e. likely the company’s largest one. Our understanding is that Intel has been an important reference to win the contract as large customers typically do not choose Napatech due to its small size. Napatech also says it has been approached by several large companies and has initiated a strategic review to consider its options for capitalising on the large opportunities ahead. Although this might entail additional partnerships, we believe a potential acquisition is also likely due to Napatech’s position in the market (further details in the report). Following the Q2 report, we lower ‘22e estimates significantly, while for next year, we now expect sales of DKK 327m and EBITDAC of DKK 32m, largely driven by the USD 10-15m order. New fair value range of NOK 13-18 (6-17) Industry peers are trading at an EV/Gross Profit in ‘23e and ‘24e of 4.9x and 4.7x. Pricing Napatech in line with this peer group would imply a share price of NOK 13-15. Note that we expect Napatech to ... Läs mer på ABG Sundal Collier
8/18/2022 7:22:34 AM - Napatech: Challenging 2022, but 2023 looks promising - ABG - Sales 37% below ABGSC, down 33% y-o-y Lower guidance somewhat outweighed by large ‘23 order Cons ’22 EBITDA down 25-35%, small changes to ‘23 Q2 miss driven by lower sales due to challenging market Napatech delivered Q2 sales of DKK 35.5m, down 33% y-o-y adj. for FX. This was 37% below our estimate of DKK 56m. The gross margin was 70% vs. ABGSC at 70%. Operating costs were DKK 38m, vs. ABGSC at DKK 39m, i.e. largely in line. This resulted in an EBITDAC of DKK -12.9m vs ABGSC at DKK 0m. FCFF was DKK -6.1m vs ABGSC at DKK -8m.
5/3/2022 7:04:52 AM - Napatech: Low gross margin due to timing of order - ABG - Sales 2% below and GM of 51% vs ABGSC at 70%<br> Reiterates 2022 outlook with GM of 69-70%<br> Expect small negative changes to 2022 consensus
4/25/2022 7:38:20 AM - Napatech: Steadily approaching large growth opportunity - ABG - Q1e sales to be slightly affected by supply chain issues<br> Limited estimates changes<br> Peers point to a share price range of NOK 6-17
2/24/2022 8:09:32 AM - Napatech Q4: Lower costs than expected - ABG - Q4 beat: lower opex than expected<br> 2022 EBITDAC guidance above ABGSC<br> Expect slightly lower costs in ‘22’23e
1/31/2022 10:08:49 AM - Napatech: Lower estimates on supply issues & deferrals - ABG - Q4 revenues affected by indirect supply issues<br> Napatech indicates 27-38% y-o-y growth in 2022<br> Peers point to a share price of NOK 5-19
1/4/2022 7:53:42 AM - Napatech: Q4 revenues affected by indirect supply issues - ABG - ‘21E sales guidance -12% due to indirect supply issues Expects ‘22E revenues ~7% below ABGSCe Cons’ ’21-22E revenues to come down by ~6-11%
11/8/2021 6:58:36 AM - Napatech: Investing to capture large growth opportunity - ABG - Q3 sales below, but 2021e outlook is unchanged<br>Higher inv. in ‘22e to target Virtualisation opportunity<br>Peer EV/Sales points to share price of NOK 9-30
11/3/2021 8:43:41 AM - Napatech: Q3 sales below, but upside to our Q4 estimates - ABG - Q3 sales 2% below, 7% underlying growth<br>Reiterates 2021 guidance: ‘21e sales 5% above ABGSC<br>Overall positive report: small positive changes to cons
10/5/2021 6:43:05 AM - Napatech: Cautious on H2e, but LT outlook unchanged - ABG - Estimate 9% y-o-y growth in Q3 sales<br>Lower ’21e sales by ~2%<br>Peer EV/Sales points to share price of NOK 9-27
8/24/2021 6:51:30 AM - Napatech. On track to reach its FY targets - ABG - Underlying y-o-y sales growth of 4% in Q2<br>Solid long-term ambitions, potential upside to estimates<br>Peer EV/sales points to share price of NOK 11-28Underlying y-o-y sales growth of 4% in Q2<br>Solid long-term ambitions, potential upside to estimates<br>Peer EV/sales points to share price of NOK 11-28
8/18/2021 7:11:30 AM - Napatech: Sales slightly below, FY guidance unchanged - ABG - Q2 sales 3% below, 4% underlying growth<br>Reiterates FY guidance of 18-29% underlying sales growth<br>Limited estimate changes expected