First Berlin Equity Research has published a research update on beaconsmind AG (ISIN: CH0451123589). Analyst Christian Orquera reiterated his BUY rating and increased the price target from EUR 14.00 to EUR 14.50.

Abstract
beaconsmind has published its financial results for H1 2024, which were in line with our projections after adjusting for exceptional costs. The company reported revenues of CHF5.9m (FBe: CHF6.1m) and adjusted EBITDA of CHF1.1m (FBe: CHF1.1m). These figures were adjusted by €550k in one-off costs in connection with M&A, restructuring and change of strategy. Importantly, on the back of these good results, beaconsmind is on track to achieve positive EBITDA, net income and free cash flow in 2024 in line with its financial guidance. The recently announced contracts with new clients give us confidence in management’s ability to meet its targets for 2024. Following the publication of H1/24 results, we have updated our DCF-model and arrive at a slightly higher price target of €14.50 (previously: €14.00). We reiterate our Buy recommendation.