Research from Redeye, Redeye AB

Redeye

Redeye is the next generation equity research and investment banking company, specialized in Life Science and Technology. We are the leading provider of Corporate Broking and Corporate Finance in these sectors.

Our clients are innovative growth companies in the Nordics and we use a unique Rating model based on a value based investment philosophy. Redeye was founded 1999 in Stockholm and is regulated by the Swedish Financial Authority (Finansinspektionen). 

Expertise in Denmark, Finland, Norway and Sweden.

Research from Redeye

Redeye AB

Specialists in innovative and fast-growing Nordic companies within Life Science and Technology.

Redeye is the next generation equity research and investment banking company, specialized in Life Science and Technology. We are the leading provider of Corporate Broking and Corporate Finance in these sectors.

Our clients are innovative growth companies in the Nordics and we use a unique Rating model based on a value based investment philosophy. Redeye was founded 1999 in Stockholm and is regulated by the Swedish Financial Authority (Finansinspektionen).

Equity Bottom-Up

<ul><li>Stille's Q2 painted a picture of continued sales momentum (+8% vs. REe) and an encouraging outlook for delivering on the order backlog following 2025's supply chain constraints.</li><li>Gross margin, however, came in roughly 4pp short of our estimate, and OPEX was higher than expected, meaning the revenue beat failed to flow through the P&amp;L.</li><li>Following a mixed reaction to the report, the stock now screens as "Fairly Priced" at a moderate discount to Redeye's fair value.</li></ul>

Stille's Q2 painted a picture of continued sales momentum (+8% vs. REe) and an encouraging outlook for delivering on the order backlog following 2025's supply chain constraints.Gross margin, however, came in roughly 4pp short of our estimate, and OPEX was higher than expected, meaning the revenue beat failed to flow through the P&amp;L.Following a mixed reaction to the report, the stock now screens as "Fairly Priced" at a moderate discount to Redeye's fair value.

Stille (Q2 review): Closing a solid H1 with intact momentum