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.