MLVIR Virtualware 2007 SA

New York and Bilbao, Spain, 10, October.-  Litchfield Hills Research initiated coverage of Virtualware (ENXTPA: MLVIR) with a 'Buy' rating and €10 ($10.56) price target, according to an equity research report published and distributed Monday.

The report cites Virtualware's position as a pioneer in virtual reality and immersive technologies for enterprise use as a basis for the 'Buy' recommendation. 

Analyst Theodore R. O’Neill wrote that the global VR market is expected to reach $435 billion by 2030, presenting a significant growth opportunity for Virtualware. The company’s flagship VIROO platform offers VR-as-a-service for corporate training, design prototyping, marketing and other applications.“Virtualware has a long lead as a pioneer in this sector with a significant amount of intellectual property built up over the last two decades,” the report states.Virtualware is a leading innovator in the virtual reality space, according to the report. The company has made significant advancements with its VIROO platform, which provides an end-to-end VR solution for enterprises.VIROO enables remote collaboration and multi-user VR environments to facilitate training, design prototyping, and other applications across industries from aerospace to healthcare. It offers a flexible cloud-based system compatible with major VR headsets and customizable for each client's needs.Recent updates of the platform allow integration of virtual and mixed reality along with offline functionality. Virtualware continues to refine VIROO with the goal of establishing it as an industry standard VR-as-a-service platform.The €10 price target is derived from a discounted cash flow model estimating the company's future earnings potential. The report noted Virtualware’s current valuation multiples are below comparable peers in the VR space.Virtualware began trading on the Euronext Access Paris exchange in April 2023 under the ticker MLVIR. The company currently has a market capitalization of €38.6 million and a share price of €8.50As a pioneer with nearly 20 years focused on VR, Virtualware is poised for success as demand accelerates for immersive technologies improving productivity and capabilities across sectors.Headquartered in Bilbao, Spain, Virtualware is a global pioneer in developing virtual reality solutions for major industrial, educational, and healthcare conglomerates. Since its founding in 2004, the company has garnered widespread recognition for its accomplishments. In 2021, Virtualware was acknowledged as the world’s most Innovative VR Company.With a diverse client base that includes GE Hitachi Nuclear Energy, Ontario Power Generation, Petronas, Iberdrola, Alstom, Guardian Glass, Gestamp, Danone, Johnson & Johnson, Biogen, Bayer, ADIF, the Spanish Ministry of Defense, Invest WindsorEssex, McMaster University, University of El Salvador and EAN University, and a network of partners worldwide, Virtualware is poised for further global expansion.

Investors can download the report in this link: https://virtualwareco.com/downloads/ir/Virtualware_Coverage_Initiation_by_Litchfield_Hills_Research.pdf

Investor Website and Contacts: https://ir.virtualwareco.com/reports/

FORWARD LOOKING STATEMENTS

This document is only provided for information purposes and does not constitute, nor should it be interpreted as, an offer to sell or exchange or acquire, or an invitation for offers to buy securities issued by any of the aforementioned companies. Any decision to buy or invest in securities in relation to a specific issue must be made solely and exclusively on the basis of the information set out in the pertinent prospectus filed by the company in relation to such specific issue. No one who becomes aware of the information contained in this report should regard it as definitive, because it is subject to changes and modifications.This document contains or may contain forward-looking statements regarding intentions, expectations or projections of Virtualware 2007, S.A. (“Virtualware” or the “Company”) or of its management on the date thereof, that refer to or incorporate various assumptions and projections, including projections about the future earnings of the business. The statements contained herein are based on our current projections, but the actual results may be substantially modified in the future by various risks and other factors that may cause the results or final decisions to differ from such intentions, projections or estimates. These factors include, without limitation, (1) the market situation, macroeconomic factors, regulatory, political or government guidelines, (2) domestic and international stock market movements, exchange rates and interest rates, (3) competitive pressures, (4) technological changes, (5) alterations in the financial situation, creditworthiness or solvency of our customers, debtors or counterparts. These factors could cause or result in actual events differing from the information and intentions stated, projected or forecast in this document or in other past or future documents. Virtualware does not undertake to publicly revise the contents of this or any other document, either if the events are not as described herein, or if such events lead to changes in the information contained in this document. This disclaimer needs to be taken into account by those persons which may take a decision over the base of this document or to elaborate or disseminate opinions based hereof. This document may contain summarised information or information that has not been audited. This document is confidential and it cannot be revealed or disclosed to third parties different from the original recipients, even partially, without Virtualware’s prior consent.

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