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Paxman AB (PAX) Stock Price & Analysis
PAX Stock Chart & Stats
- Day’s Range
- SEK 63.00 - SEK 67.90
- 52-Week Range
- SEK 41.00 - SEK 69.90
- Previous Close
- SEK 66.30
- Volume
- N/A
- Average Volume (3M)
- 17.96K
- Market Cap
- SEK 1.54B
- Enterprise Value
- SEK 1.06B
- Total Cash (Recent Filing)
- SEK 105.64M
- Total Debt (Recent Filing)
- SEK 12.37M
- Price to Earnings (P/E)
- ―
- Beta
- 0.16
- Next Earnings
- Nov 20, 2026 (Est.)
- EPS Estimate
- 0.4
- Next Dividend Ex-Date
- N/A
- Dividend Yield
- N/A
Bulls Say, Bears Say
Bulls Say
Commercial Momentum
Rapid sales growth and a substantial order book indicate expanding demand for Paxman’s scalp-cooling systems. This supports continued site expansion and future equipment revenue, while strengthening the installed base that can generate ongoing usage and service income.
IBBM Utilization Growth
Insurance-based billing is increasing treatment utilization and recurring cap revenue, addressing a key adoption barrier for patients and clinics. Higher usage per site and system can improve the economics of the installed base and make customer relationships more valuable over time.
Conservative Financing
Very low leverage limits interest and refinancing pressure, giving Paxman greater flexibility to fund commercial expansion, product development, and integration initiatives. A conservatively financed balance sheet also provides more resilience while profitability and cash generation are being rebuilt.
Bears Say
Negative Cash Generation
Negative operating and free cash flow means current operations and investment are not being funded internally. If this persists, Paxman may need to rely more heavily on existing liquidity or external funding, reducing flexibility for expansion and increasing financial execution risk.
Profitability Pressure
The shift from prior profitability to a TTM loss, alongside near-break-even EBIT and lower gross margin, raises questions about earnings durability. Cost or mix pressure could limit operating leverage, making strong revenue growth less effective at translating into sustainable profits.
Neuropathy Regulatory Delay
The De Novo requirement delays the neuropathy device and introduces greater approval uncertainty than the planned 510(k) route. Potential additional data requests could extend the timeline further, postponing related revenue and increasing the cost of reaching commercialization.
Paxman AB News
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Company Description
Paxman AB
Paxman AB (publ), along with its subsidiaries, specializes in the creation and worldwide sale of the Paxman scalp cooling system, an innovative solution designed to minimize hair loss in patients undergoing chemotherapy. This system is distributed across Europe, the United States, Mexico, Japan, Oceania, various Asian regions, and both South and Central America, primarily serving cancer centers and hospitals. The company is also engaged in a research collaboration agreement with the National University Hospital in Singapore, working towards the development of a portable cooling and compression device. Established in 1996, Paxman AB (publ) is headquartered in Karlshamn, Sweden.
- Sector
- Healthcare
- Industry
- Medical - Devices
- CEO
- Richard Paxman
- Employees
- 151
- Website
- www.paxman.se
- Address
- Pirgatan 13, Karlshamn, BL, 374 35, SE
Paxman AB (PAX) Earnings & Revenues
PAX Earnings Call
Earnings Call SentimentPositive
The call highlights strong commercial momentum: record quarterly sales (+40% YoY), substantial U.S. revenue growth (~+77.5% YoY), large increases in insurance-based billing (110%), improved adjusted margins (~19%), a robust order book (190 systems, 80 in U.S.), and a healthy cash position (SEK 105m). These positives are tempered by a regulatory setback for the neuropathy device (shift to De Novo with an 8–12 month review window), increased operating and CIPN-related costs (OpEx up ~SEK 6m q/q; CIPN costs up ~30%), and a slower near-term U.S. rollout for CIPN. Overall, company fundamentals and commercial traction are strong and appear to outweigh the regulatory and cost challenges, but the De Novo timeline introduces meaningful near-term uncertainty for the new product launch.
View all SE:PAX earnings summariesTechnical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 8 | 6 | 8 |
| Technical Analysis | 2 | 6 | 2 |
| Moving Averages | 6 | 0 | 6 |
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