Inside Information, profit warning: Modulight’s 2023 revenue and result developed weaker than estimated

Modulight has not given guidance on the development of revenue or profitability for the year 2023, but revenue and result developed weaker than the previous internal estimate. Modulight’s revenue in 2023 will decrease slightly compared to the previous year and the operating profit will decrease compared to the previous year. Revenue is estimated to be around 4.0 million euros in 2023 (EUR 4.6 million in 2022).
 
Modulight’s revenue has developed weaker than estimated, as some of the projects close to the commercialization phase have been delayed. More revenue from these is expected only in 2024. Modulight’s business still mainly consists of product development projects in various stages. Overall, the development of R&D projects has been positive, and several projects have progressed close to the commercialization phase. The company still estimates that the turnover potential of projects close to the commercialization phase is significant.
 
Although the progress in the introduction of SaaS business models in accordance with the growth strategy has been good towards the end of the year, the introduction has taken longer than expected, and SaaS business models generated less revenue in 2023 than previously estimated. Overall, the development of SaaS business models continues to progress well, and the productization of the service and the introduction of a new operating model to the market are actively continued. Revenue from the SaaS model typically accumulates more evenly than from device sales and only when the service, i.e. the treatment session, has been completed.