Impala Nordic comments on Brain+ A/S (“Brain+” or the “Company”) updated guidance for 2025.

Management adjusts all top-line and cash metrics for the year and widens the net loss, citing longer sales and deployment cycles in the UK care-home market. Simultaneously, management point to operational progress with more providers live, trained staff, strong user feedback, and commitments into 2026. The guidance cut is consistent with the risks we’ve flagged for in previously related to timing and revenue deferral, but the scale is larger than we anticipated at H1. The updated guidance confirms that timing is the binding constraint in 2025, and raises the bar on execution in 2026.

Read our full comment here.

For additional information, please contact:

Charlie Dahlström, Equity Research Analystcharlie@impalanordic.se

About Impala Nordic

Impala Nordic provides company analysis, coverage, and comprehensive investor relations (IR) services. The portfolio includes listed small-cap companies, where Impala Nordic acts as a communicative bridge between the companies and investors.

The material produced by Impala Nordic is independent but sponsored. This means that Impala Nordic has received payment from the client to produce the analysis and coverage. The client has not been able to influence Impala Nordic’s opinions expressed in the material.

Bifogade filer

Brain+ Coverage Comment 21 Nov