Physitrack (Q3 Review): Back to growth: transition from add-on to platform - Redeye

Q3 confirmed that Physitrack is back to growth: q3 revenue rose 14% YoY (11% at constant currency), the fastest pace since 2023, driven by pricing in Lifecare, while the adjusted EBITDA margin fell to 31% as planned on US and product investments. With EMR, RTM and Educational Modules launched in the same quarter, Physitrack is moving from a home exercise add-on to a platform that runs the clinic. We make limited estimate changes maintain our Base Case (DCF) at SEK20, and our Fair Value is stable at SEK19.5, weighted 75% on our Base Case and 25% on our relative valuation. At SEK12.40, this implies c.57% upside, and the stock screens as Cheap.

Länk till analysen i sin helhet: https://www.redeye.se/research/1187969/physitrack-q3-review-back-to-growth-transition-from-add-on-to-platform?utm_source=finwire&utm_medium=RSS