Sweden's Qualisys prelim Q3 net sales fall due to delayed orders

Overview

• Sweden motion capture tech firm's preliminary Q3 net sales fell 15% yr/yr

• Preliminary Q3 operating profit dropped sharply due to lower volumes and commercialization costs

• Shortfall driven by delayed orders, US funding constraints, and Middle East geopolitical uncertainty

Outlook

• Company says financial targets remain unchanged

Result Drivers

• VOLUME DROP - Co said lower sales volumes contributed to decline in operating profit

• COMMERCIALIZATION COSTS - Co attributed lower EBIT margin to costs related to markerless technology roll-out

• DELAYED ORDERS - Co said shortfall was mainly due to delayed orders from constrained US research funding and Middle East geopolitical uncertainty

Company press release:

Key Details

Analyst Coverage

• Wall Street's median 12-month price target for Qualisys Holding AB (publ) is SEK69.00, about 34.8% above its October 19 closing price of SEK51.20

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)