Company Overview
Modulight is a biotechnology company that specializes in designing and manufacturing laser-based products for cancer and eye disease treatment. The company leverages similar technologies to develop solutions for high-value applications, including virtual surgery, microscopy, photobiology, quantum technology, and defense.
The company's proprietary laser platforms and cloud-based services enable customized product development and rapid deployment. Modulight collaborates with leading pharmaceutical companies, research institutions, and universities to advance its products and technologies.
Company Mission and Core Values
Modulight's mission is to provide innovative solutions for complex medical and industrial applications while fostering a culture of innovation, collaboration, and excellence. The company's core values include:
- Reinventing medicine through cutting-edge technology
- Fostering a culture of innovation and collaboration
- Delivering exceptional customer experiences
- Embracing sustainability and social responsibility
- Prioritizing employee well-being and development
Key Products/Services
Modulight offers a range of products and services, including:
- Laser-based medical devices for cancer and eye disease treatment
- Virtual surgery solutions for precision medicine
- Microscopy and imaging technologies for biomedical research
- Semiconductor and laser technologies for industrial applications
- Cloud Services for cloud-based product development and deployment
The company's products and services benefit from its proprietary technology, expertise in biotechnology, and collaboration with leading partners. Modulight's solutions are designed to improve patient outcomes, enhance medical research, and drive industrial innovation.
Benefits of Modulight's Products/Services
- Improved patient outcomes through advanced medical treatments
- Enhanced biomedical research capabilities through microscopy and imaging technologies
- Increased efficiency and precision in industrial applications through semiconductor and laser technologies
- Reduced costs and improved scalability through cloud-based product development and deployment
- Access to cutting-edge technology and expertise through collaboration with leading partners
Modulight's products and services are designed to address complex medical and industrial challenges while driving innovation, efficiency, and growth. As an investment opportunity, Modulight presents a compelling case for those seeking to capitalize on the company's proprietary technology and expertise.
Valuation
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Number of Shares (million) | 42.6 | 42.6 | 42.6 | 42.6 | 42.6 | 42.6 | 42.6 |
| Target Valuation (MEur) | 83.3 | 37.7 | 22.2 | 15.6 | 10.5 | 4.1 | 4.1 |
| Targer Price | 1.96 | 0.88 | 0.52 | 0.37 | 0.25 | 0.1 | 0.1 |
| Potential, % | 3.5 | -24.6 | -45.7 | -67.3 | -77.3 | -91.1 | -91.1 |
| Recommendation | Hold | Sell | Sell | Sell | Sell | Sell | Sell |
| MCAP (MEur) | 80.5 | 50.0 | 40.9 | 47.7 | 46.2 | 46.2 | 46.2 |
| Price | 1.89 | 1.17 | 0.96 | 1.12 | 1.08 | 1.08 | 1.08 |
| EV | 45.0 | 31.0 | 28.0 | 41.0 | 41.0 | 47.0 | 56.0 |
| P/S | 17.49 | 12.43 | 9.99 | 6.75 | 7.1 | 6.49 | 5.98 |
| EV/S | 9.76 | 7.81 | 6.85 | 5.78 | 6.3 | 6.62 | 7.21 |
| EV/EBIT | -5.76 | -2.59 | -3.36 | -8.79 | -7.87 | -5.95 | -3.51 |
| P/E | -9.41 | -4.22 | -6.35 | -10.37 | -10.83 | -7.28 | -3.65 |
| P/B | 1.19 | 0.9 | 0.83 | 1.07 | 1.15 | 1.36 | 2.17 |
| P/OCF | -19.6 | -6.87 | -49.53 | -27.27 | 16.77 | -26.12 | -11.25 |
| EV/OCF | -10.93 | -4.32 | -33.96 | -23.35 | 14.88 | -26.67 | -13.56 |
| P/FCF | -4.52 | -2.94 | -7.14 | -7.88 | -29.67 | -7.49 | -5.43 |
| EV/FCF | -2.52 | -1.85 | -4.9 | -6.74 | -26.33 | -7.65 | -6.55 |
Income Statement
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Revenue | 4.6 | 4.0 | 4.1 | 7.1 | 6.5 | 7.1 | 7.7 |
| Rev. Growth, % | -49.5 | -13.0 | 2.5 | 73.2 | -8.5 | 9.2 | 8.5 |
| Ebit | -7.8 | -12.1 | -8.3 | -4.6 | -5.2 | -7.9 | -15.9 |
| Ebit Growth, % | -1014.3 | -55.1 | 31.4 | 44.6 | -13.0 | -51.9 | -101.3 |
| Ebit, % | -169.6 | -302.5 | -202.4 | -64.8 | -80.0 | -111.3 | -206.5 |
| Profit | -8.6 | -11.9 | -6.4 | -4.6 | -4.3 | -6.4 | -12.7 |
| EPS | -0.2 | -0.28 | -0.15 | -0.11 | -0.1 | -0.15 | -0.3 |
| Profit Growth, % | -72.0 | -38.4 | 46.2 | 28.1 | 6.5 | -48.8 | -98.4 |
| Profit, % | -187.0 | -297.5 | -156.1 | -64.8 | -66.2 | -90.1 | -164.9 |
Balance Sheet
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Inventory | 2.3 | 2.6 | 2.3 | 2.2 | 2.1 | 1.8 | 1.3 |
| Acc. Receivable | 3.0 | 0.9 | 1.1 | 2.0 | 1.4 | 1.3 | 1.0 |
| Cash | 43.9 | 25.1 | 17.4 | 9.7 | 7.7 | 1.5 | -7.0 |
| Equity | 67.6 | 55.7 | 49.3 | 44.7 | 40.4 | 34.0 | 21.3 |
| ROE, % | -12.7 | -21.4 | -13.0 | -10.3 | -10.6 | -18.8 | -59.6 |
| ROCE, % | -10.3 | -19.4 | -15.4 | -9.7 | -12.1 | -21.6 | -66.8 |
| Net Debt | -35.6 | -18.6 | -12.9 | -6.9 | -5.2 | 1.0 | 9.5 |
| Gearing, % | -52.7 | -33.4 | -26.1 | -15.4 | -12.9 | 2.8 | 44.4 |
| Equity ratio, % | 86.3 | 87.1 | 87.5 | 90.9 | 86.7 | 83.4 | 65.0 |
| Acc. Payable | 1.3 | 0.6 | 0.7 | 0.3 | 0.6 | 1.3 | 2.8 |
| Total Assets | 78.3 | 64.0 | 56.3 | 49.1 | 46.6 | 40.8 | 32.8 |
| ROA, % | -11.0 | -18.6 | -11.4 | -9.4 | -9.2 | -15.7 | -38.7 |
Cash Flow
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -4.1 | -7.3 | -0.8 | -1.8 | 2.8 | -1.8 | -4.1 |
| Investment Cash Flow | -13.7 | -9.7 | -4.9 | -4.3 | -4.3 | -4.4 | -4.4 |
| Free Cash Flow | -17.8 | -17.0 | -5.7 | -6.1 | -1.6 | -6.2 | -8.5 |
| OCF/CAPEX | 0.0 | 0.0 | 0.0 | 0.0 | 0.64 | 0.0 | 0.0 |
| Financial Cash Flow | -1.3 | -1.8 | -2.0 | -1.8 | -0.3 | 0.0 | 0.0 |
Disclaimer
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