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Onward Medical NV is developing and commercializing innovative therapies to enable functional recovery for people with Spinal Cord Injury (SCI). The company’s technology platforms are based on ONWARD ARC Therapy (ARC Therapy), targeted, programmed electrical stimulation of the spinal cord designed to restore movement, independence, and health in people with SCI.
2015
103
LTM Revenue $4.2M
LTM EBITDA -$45.9M
$181M
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Onward Medical has a last 12-month revenue (LTM) of $4.2M and a last 12-month EBITDA of -$45.9M.
In the most recent fiscal year, Onward Medical achieved revenue of $0.3M and an EBITDA of -$36.9M.
Onward Medical expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Onward Medical valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $4.2M | XXX | $0.3M | XXX | XXX | XXX |
| Gross Profit | $4.2M | XXX | $0.2M | XXX | XXX | XXX |
| Gross Margin | 100% | XXX | 90% | XXX | XXX | XXX |
| EBITDA | -$45.9M | XXX | -$36.9M | XXX | XXX | XXX |
| EBITDA Margin | -1090% | XXX | -14354% | XXX | XXX | XXX |
| EBIT | -$47.7M | XXX | -$39.2M | XXX | XXX | XXX |
| EBIT Margin | -1134% | XXX | -15224% | XXX | XXX | XXX |
| Net Profit | -$47.1M | XXX | -$40.1M | XXX | XXX | XXX |
| Net Margin | -1118% | XXX | -15600% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of May 30, 2025, Onward Medical's stock price is EUR 5 (or $5).
Onward Medical has current market cap of EUR 206M (or $231M), and EV of EUR 161M (or $181M).
See Onward Medical trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $181M | $231M | XXX | XXX | XXX | XXX | $-1.24 |
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Start Free TrialAs of May 30, 2025, Onward Medical has market cap of $231M and EV of $181M.
Onward Medical's trades at 702.4x EV/Revenue multiple, and -4.9x EV/EBITDA.
Equity research analysts estimate Onward Medical's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Onward Medical has a P/E ratio of -4.9x.
See valuation multiples for Onward Medical and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $231M | XXX | $231M | XXX | XXX | XXX |
| EV (current) | $181M | XXX | $181M | XXX | XXX | XXX |
| EV/Revenue | 42.9x | XXX | 702.4x | XXX | XXX | XXX |
| EV/EBITDA | -3.9x | XXX | -4.9x | XXX | XXX | XXX |
| EV/EBIT | -3.8x | XXX | -4.6x | XXX | XXX | XXX |
| EV/Gross Profit | 42.9x | XXX | n/a | XXX | XXX | XXX |
| P/E | -4.9x | XXX | -5.8x | XXX | XXX | XXX |
| EV/FCF | n/a | XXX | -5.0x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialOnward Medical's last 12 month revenue growth is 322%
Onward Medical's revenue per employee in the last FY averaged $2K, while opex per employee averaged $0.4M for the same period.
Onward Medical's rule of 40 is -49637% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Onward Medical's rule of X is -285% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Onward Medical and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 322% | XXX | 998% | XXX | XXX | XXX |
| EBITDA Margin | -1090% | XXX | -14354% | XXX | XXX | XXX |
| EBITDA Growth | 5% | XXX | n/a | XXX | XXX | XXX |
| Rule of 40 | -49637% | XXX | -14032% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | -285% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $2K | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.4M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 545% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 5433% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 15314% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Philips | XXX | XXX | XXX | XXX | XXX | XXX |
| Perspective Therapeutics | XXX | XXX | XXX | XXX | XXX | XXX |
| SmartVest | XXX | XXX | XXX | XXX | XXX | XXX |
| InfuSystem | XXX | XXX | XXX | XXX | XXX | XXX |
| Myomo | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Onward Medical acquired XXX companies to date.
Last acquisition by Onward Medical was XXXXXXXX, XXXXX XXXXX XXXXXX . Onward Medical acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Start Free Trial| When was Onward Medical founded? | Onward Medical was founded in 2015. |
| Where is Onward Medical headquartered? | Onward Medical is headquartered in Belgium. |
| How many employees does Onward Medical have? | As of today, Onward Medical has 103 employees. |
| Who is the CEO of Onward Medical? | Onward Medical's CEO is Mr. Dave Marver. |
| Is Onward Medical publicy listed? | Yes, Onward Medical is a public company listed on BRU. |
| What is the stock symbol of Onward Medical? | Onward Medical trades under ONWD ticker. |
| When did Onward Medical go public? | Onward Medical went public in 2021. |
| Who are competitors of Onward Medical? | Similar companies to Onward Medical include e.g. Philips, Perspective Therapeutics, SmartVest, InfuSystem. |
| What is the current market cap of Onward Medical? | Onward Medical's current market cap is $231M |
| What is the current revenue of Onward Medical? | Onward Medical's last 12 months revenue is $4.2M. |
| What is the current revenue growth of Onward Medical? | Onward Medical revenue growth (NTM/LTM) is 322%. |
| What is the current EV/Revenue multiple of Onward Medical? | Current revenue multiple of Onward Medical is 42.9x. |
| Is Onward Medical profitable? | Yes, Onward Medical is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Onward Medical? | Onward Medical's last 12 months EBITDA is -$45.9M. |
| What is Onward Medical's EBITDA margin? | Onward Medical's last 12 months EBITDA margin is -1090%. |
| What is the current EV/EBITDA multiple of Onward Medical? | Current EBITDA multiple of Onward Medical is -3.9x. |
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