---
id: "5577a672-b08f-4a3c-aa71-cedb5561c89b"
title: "Quality over Quantity"
report_type: "update"
published_date: "2026-08-27"
source: "Homodeus Research"
source_url: "https://homodeus.one"
report_url: "https://homodeus.one/research/report/oneview-healthcare-one-ax-quality-over-quantity-company-report"
lead_analyst: "Wei Sim"
lead_analyst_email: "wei.sim@homodeus.one"
access: "full"
requires_payment: false
issuer_paid: true
html_access: "free-registration"
html_registration_required: true
company: "Oneview Healthcare PLC"
ticker: "ONE.AX"
exchange: "ASX"
gics_sector: "Health Care"
country: "Australia"
country_of_listing: "Australia"
theme: "Health Care"
currency: "AUD"
price_at_report: 0.16
publication_date: "2026-08-27"
price_date: "2026-08-26"
market_cap_m: 134.3
shares_on_issue: 839193060
week_52_high: 0.41
week_52_low: 0.13
avg_daily_volume: 123320
valuation_target: 0.28
valuation_method: "DCF"
wacc_pct: 9.417666666666667
tgr_pct: 3
commissioned_by: "Oneview Healthcare PLC"
isin: "AU000000ONE9"
markdown_url: "https://homodeus.one/api/reports/oneview-healthcare-one-ax-quality-over-quantity-company-report.md"
bot_friendly: true
keywords: "Health Care, patient engagement"
modified_date: "2026-10-06T23:46:04.884Z"
---

# Quality over Quantity

## Stock Information

| Metric | Value |
| --- | --- |
| Ticker | ONE.AX (ASX) |
| Price at Report | AUD 0.16 (2026-08-26) |
| Market Cap | AUD 134.3M |
| Shares on Issue | 839,193,060 |
| 52-Week High | AUD 0.41 |
| 52-Week Low | AUD 0.13 |
| Avg Daily Volume | 123,320 |
| GICS Sector | Health Care |
| Country of Listing | Australia |

**Oneview Healthcare PLC (ONE.AX)** saw improving trends in key operating and financial metrics. In spite of some endpoint losses these were more than offset by higher quality new deployments. New revenue opportunities via Baxter and EpicTV are also seeing strong development. We value Oneview at A$0.28/share which is 75% above current market price.

## Key Highlights

- Two-track Fit-for-purpose GTM strategy: EPIC's new revenue channel is timely, coming at a time when hospitals face mounting financial pressures. This has provided ONE's customers a cost-effective alternative to onboard. The move has reignited 49% of ONE's pipeline whilst offering a trojan horse for longer-term land, expand and upsell. For customers able to afford the full immersive experience CXP still provides that pathway.
- New opportunities quantified: the funnel from the Baxter partnership has now been quantified: 131 open opportunities (~36k licensed beds). The new revenue channel from Bedside Hub has also already generated 16 active EpicTV opportunities (~20k licensed beds). Both bring large potential pipeline opportunities above ONE's current 15k endpoints.
- JAWS: AI development has accelerated feature-development while cutting development costs. Combined with the redesigned front end being largely complete, we forecast development costs to remain at the lower level (Fig ?) further driving operating leverage (Fig ?).
**Earnings and valuation revision:** Revise FY26-28e EPS +13%, +9%, +6% from lower development costs. DCF valuation of A$0.28/share.
**Recommendation:** ONE in our view has derated over unfounded SaaSpocalypse concerns. 1H26 has shown material development in new revenue opportunities. We think ONE's customer profile & partnerships reflect a secular growth opportunity. Revenue growth is at an inflection point and OPEX has likely peaked. We value Oneview at **A$0.28/share which is 75% above **current market price.
- ![](https://homodeus.one/api/draft-image/23589c98-dd80-4f08-874b-a14fd7a470b0)

## Valuation

| Parameter | Value |
| --- | --- |
| Price Target | AUD 0.28 |
| Methodology | DCF |
| WACC | 9.417666666666667% |
| Terminal Growth Rate | 3% |

## Upcoming Catalysts

| Period | Event |
| --- | --- |
| H2 2026 | initiate projects with Top 10 U.S. Health System |
| H2 2026 | addition of new Bedside Hub customers |
| 27 Aug 2026 | 1H results release |
| OCT 2026 | 3Q results release |

## The Long View

**Investment Thesis:** Oneview Healthcare (ASX:ONE) is a Dublin-founded patient engagement and care-experience technology company with a marquee but still lightly-penetrated US footprint. Reference customers include NYU Langone, UCSF, BJC and Inova, plus six of the World's Best Smart Hospitals.
We see an inflection point in the company's growth runway: new logo wins have accelerated to ~6 per year (vs. ~1 in prior years). We estimate ONE could roughly triple its live endpoints simply by converting customers already on hand. This is being amplified by two newer channels — a maturing Baxter VAR partnership and the launch of Bedside Hub powering Epic's MyChart Bedside TV.

### Scenarios

| Scenario | Target | vs Current | Description |
| --- | --- | --- | --- |
| Upside | AUD 0.37 (+131%) | | Upside case DCF valuation to 2030 assuming 9.4% WACC, 40% terminal EBITDA margin (unchanged from base case) but FY29e endpoints of 35,000. |
| Base Case | AUD 0.28 (+75%) | | Base case DCF valuation to 2030 assuming 9.4% WACC, 40% terminal EBITDA margin and FY29e endpoints of 30,800. |
| Downside | AUD 0.13 (-19%) | | Downside case DCF valuation to 2030 assuming 9.4% WACC, 37.5% terminal EBITDA margin (base case 40%) and only 25,000 endpoints by FY29e (19% below base case). |

**Sustainability Matters:** 1.) Nursing shortage globally and particularly in the US where there is a significant ageing population so there is a need for technologies that alleviate the burden on nurses.
2.) The virtualisation of care has been a major driver for ONE's technology in recent years (since the pandemic).
3.) Patient data privacy and cybersecurity — handling sensitive health information and EHR integrations makes data protection (HIPAA, GDPR) and breach resilience the single highest-stakes matter; a serious breach would be existential.
4.) Hardware lifecycle and e-waste — deploying tens of thousands of bedside TVs, tablets and digital signs creates a real procurement, refresh-cycle and end-of-life disposal footprint that most pure-SaaS peers don't carry.
5.) Responsible AI — the Ovie AI ecosystem in a patient-facing clinical setting raises bias, accuracy/hallucination, consent, transparency and clinical-boundary issues that need explicit governance.

**Catalysts:**

- Bedside Hub Epic channel converting its pipeline — starting with the ~1,100-bed opportunity already in contract negotiation
- Accelerated deployment of the contracted-but-not-live bed backlog, converting contracted beds into live, revenue-generating endpoints
- Land-and-expand uplift across existing logos via the ~92% per-bed add-on opportunity (tablets, Door Sign, Whiteboard, MyStay Mobile)
- Baxter VAR partnership maturing — pipeline conversion and purchase orders across the US and newly added Canada market
- New logo wins from the record US sales pipeline, both direct and through Baxter
- New MyStay TV/Tablet user interface launching in H2 2026, supporting retention and per-endpoint value

**1H26 results: **Quality over quantity. 1H26 saw improving trends in recurring revenue, gross margin, EBITDA and operating cash flows. Though ONE experienced some endpoint decommissions, this was more than offset by new deployments which carried 59% higher average recurring revenue per endpoint.
![](https://homodeus.one/api/draft-image/02125122-40af-473d-820d-f27b225e7682)![](https://homodeus.one/api/draft-image/a217345c-a9ba-49b2-a0e8-6632c6401c26)![](https://homodeus.one/api/draft-image/0d6fa241-858d-4af4-a914-726699944881)

## Two-track Fit-for-purpose GTM strategy

### Epic revenue channel

Epic's new revenue channel has created a lower cost of entry for ONE's potential customers not ready to commit to a full CXP experience. This is an important and timely development in our view as it provides a path to market as [Hospitals Face Increased Challenges and Financial Pressures](https://www.aha.org/press-releases/2026-03-11-new-aha-report-hospitals-face-increased-challenges-and-financial-pressures-they-care-patients).
![](https://homodeus.one/api/draft-image/a0c3d4d0-08e1-4ee1-9683-624becc54f45)![](https://homodeus.one/api/draft-image/d9d56a2c-9dec-466a-87d3-3019ba24581d)
### CXP (full immersive experience)

For customers looking for a full-stack solution, Oneview's CXP suite offers the full immersive experience. Importantly the Epic revenue channel can also be upgraded over time to provide the full CXP experience and can be used as a "Trojan Horse" for Oneview to expand as part of their land, expand and upsell strategy (more details under Land, Expand & Upsell  of our [initiation report](https://homodeus.one/research/report/oneview-healthcare-one-ax-5-new-logo-growth-is-just-the-beginning-initiation-coverage)). The Baxter Partnership is catered to sell to customers looking for a full stack solution.
![](https://homodeus.one/api/draft-image/dd47ae11-d820-43d1-9e3c-b5f526de4342)![](https://homodeus.one/api/draft-image/4d6ac6b0-cddf-482d-8512-a1d36d93ff77)![](https://homodeus.one/api/draft-image/73b738c5-8229-4a41-8e78-e64271046500)

## Good, Bad, Interesting

**Good**
- Recurring revenue grew 13% (20% excl. FX) to €4.3m and gross margin expanded nine points to 70%, despite total revenue falling 14% (9% excl. FX).
- Operating EBITDA loss improved 11% and H1 operating cash outflow fell 15% to €4.1m year-on-year.
- Bedside Hub has created a 16-opportunity, 19,860-licensed-bed EpicTV pipeline, with nine previously stalled opportunities reactivated.
- The Baxter funnel comprises 131 open opportunities covering 36,375 licensed beds, including 37 at design stage or beyond.
- New endpoint deployments generated 59% higher average recurring revenue per endpoint than the endpoints decommissioned.
- Four new customer logos are in contract negotiations, including two through Bedside Hub.

**Bad**
- Total H1 revenue declined 14% to €5.5m as non-recurring revenue fell 54% to €1.2m.
- A roughly 1,000-endpoint Children’s Hospital Ireland deployment has been delayed.
- US procurement has slowed as Epic-focused customers assess EpicTV alternatives and face tighter funding conditions.
- Pro forma cash: The balance sheet’s €11.4m pro-forma cash figure depends on shareholder approval and settlement of the A$7m second placement tranche.
- FX Headwind: On a total revenue basis the decline would’ve been 9% versus 14% and annual recurring revenue actually grew at 20% versus the 13% called out in the deck on a recorded or actual basis.

**Interesting**
- The first Bedside Hub enterprise pilot is a 15-bed deployment across three hospitals in a top-20 US health system, commencing in September.
- Oneview reports more than 50 conversations at Epic’s user conference, signalling greater visibility but not yet contracted revenue.
- The ANZ sales pipeline has doubled from three to eight active bids since January, with four bids tied to hospitals under construction.
- The redesigned patient interface is substantially complete, with initial customer deployments scheduled from September.
- Selected AI-enabled workflows have produced approximately 1.7× faster feature development and five-times faster bug-root-cause analysis.
- A US$50bn rural-health program appears strategically aligned with Oneview’s products.

|  |  | Actual | HD | HD (old) | HD vs. old |
| --- | --- | --- | --- | --- | --- |
|  |  | FY25A | FY26E | FY27E | FY28E | FY26E | FY27E | FY28E | FY26E | FY27E | FY28E |
| Revenue | €m | 12.0 | 12.1 | 14 | 17 | 12.9 | 15.3 | 18.4 | -7% | -8% | -7% |
| Gross profit | €m | 7.7 | 8.4 | 9.9 | 12.3 | 8.8 | 10.8 | 13.2 | -5% | -8% | -7% |
| Operating EBITDA | €m | -8 | -8 | -6 | -3 | -7 | -5 | -2 | -15% | -31% | -87% |
| Underlying NPAT | €m | -13 | -9 | -8 | -5 | -10 | -8 | -5 | 8% | 2% | 0% |
| Underlying EPS | € | -0.02 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 | 13% | 9% | 6% |
| BVPS | € | 0.00 | 0.01 | 0.00 | 0.01 | 0.01 | 0.00 | 0.01 | 2% | -49% | -27% |
| GP margin | % | 64% | 69% | 71% | 73% | 68% | 70% | 72% | 1% | 0% | 0% |
| EBITDA margin | % | -67% | -68% | -44% | -19% | -55% | -31% | -10% | -13% | -13% | -10% |

## Valuations and risks

We update our Oneview valuation to A$0.28/share. Our valuation for Oneview is based on a DCF valuation.

|  |
| --- |
| Equity Beta | 0.98 |
| Risk-Free Rate | 4.50% |
| Market Risk Premium | 5.0% |
| Cost of Equity | 9.4% |
| Terminal Growth Rate | 3.0% |
|  |  |
| Cost of Debt | 8.5% |
| Debt/Capital | - |
| Tax | 30% |
| WACC | 9.4% |

|  |  | Terminal EBITDA margin |  |  |  | Terminal EBITDA margin |
| --- | --- | --- | --- | --- | --- | --- |
|  |  | 35% | 38% | 40% | 43% | 45% |  |  |  | 35% | 38% | 40% | 43% | 45% |
| WACC | 8.0% | 0.25 | 0.29 | 0.32 | 0.37 | 0.40 |  | FY29e endpoints ('000s) | 25.0 | 0.11 | 0.13 | 0.15 | 0.18 | 0.21 |
| 9.0% | 0.22 | 0.26 | 0.29 | 0.33 | 0.36 |  | 27.5 | 0.15 | 0.18 | 0.21 | 0.24 | 0.27 |
| 9.4% | 0.21 | 0.25 | 0.28 | 0.31 | 0.35 |  | 30.0 | 0.20 | 0.23 | 0.26 | 0.30 | 0.33 |
| 10.0% | 0.20 | 0.23 | 0.26 | 0.30 | 0.33 |  | 30.8 | 0.21 | 0.25 | 0.28 | 0.31 | 0.35 |
| 11.0% | 0.18 | 0.21 | 0.23 | 0.27 | 0.29 |  | 32.5 | 0.24 | 0.28 | 0.31 | 0.35 | 0.39 |
| 12.0% | 0.16 | 0.19 | 0.21 | 0.24 | 0.27 |  | 35.0 | 0.29 | 0.33 | 0.37 | 0.41 | 0.45 |

### Upside catalysts:
- Endpoint growth: We forecast mid-teens endpoint growth in CY26. Stronger than forecast growth would present upside to our estimates.
- New logo wins: Over the past 3 years, Oneview has signed an average of six new logos a year. Further new logo wins will drive sustained growth in future pipeline.
- New revenue streams: Oneview's launch of Epic MyChart Bedside TV integration on its Bedside Hub allows Epic's platform to be accessed via the company's healthcare-grade hardware.
- Building momentum of Baxter Partnership: we estimate there are ~890k hospital beds in US, of which Baxter has 75% market share. ONE currently has between 1% and 2% market share in the US, but, with acceleration in the Baxter partnership, we forecast market share could double by FY30.
- Upsell opportunity to existing customers: ONE's average revenue per endpoint per day is ~€1.50. We estimate add-on products for the company beyond its core CXP TV could drive up to 92% upsell in Per Bed Per Day revenues over the core platform.
- Offshore expansion opportunities: ~73% of ONE's revenues currently come from the US. In the near term we still see the largest opportunity being the US, but over the medium term, we see further growth opportunities in European and Middle Eastern markets.

### Downside risks:
- Finance bridge: ONE has just raised A$19m of capital and is thus well capitalised for the near term. We expect the New EpicTV revenue channel will accelerate new revenue adoption but if, for any reason, this does not happen, the company may find itself in a position where it needs a modest bridging round in 2028 to achieve cash flow break-even.

![](https://homodeus.one/api/draft-image/e4304d38-2e8d-431f-b768-9b8982eb85d8)- Slower endpoint rollout: Oneview has a robust pipeline from new logo signups in the last three years. That said, slower than forecast endpoint rollout could result in weaker than forecast revenues and cash flows.
- Customer decommissions: customer losses beyond our estimates would result in slower than forecast revenue growth. We note that outside of the near-term case which was driven by budget and NOT dissatisfaction with Oneview's products, ONE has historically had very strong retention rates.

## Financial Tearsheet

| Oneview (ASX:ONE) |   |   |   |   |   |   |   | Price Target: |   | A$0.28 |   |   |   |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| **Interim ** | **Unit** | **1H26A** | **2H26E** | **1H27E** | **2H27E** |  |  | **Full year ** | **Unit** | **FY25A** | **FY26E** | **FY27E** | **FY28E** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Revenue** | **€m** | **5.5** | **6.6** | **6.4** | **7.6** |  |  | **Revenue** | **€m** | **12.0** | **12.1** | **14.1** | **17.0** |
| Cost of revenue | €m | (1.6) | (2.0) | (1.9) | (2.2) |  |  | Cost of revenue | €m | (4.3) | (3.7) | (4.1) | (4.7) |
| **Gross profit** | **€m** | **3.8** | **4.5** | **4.5** | **5.4** |  |  | **Gross Profit** | **€m** | **7.7** | **8.4** | **9.9** | **12.3** |
| OPEX | €m | (9.1) | (7.5) | (8.8) | (7.3) |  |  | OPEX | €m | (15.8) | (16.6) | (16.1) | (15.6) |
| **Operating EBITDA** | **€m** | **(5.2)** | **(3.0)** | **(4.3)** | **(1.9)** |  |  | **Operating EBITDA** | **€m** | **(8.1)** | **(8.2)** | **(6.2)** | **(3.3)** |
| **EBITDA** | **€m** | **(5.4)** | **(3.8)** | **(4.4)** | **(2.7)** |  |  | **EBITDA** | **€m** | **(10.5)** | **(9.2)** | **(7.1)** | **(4.2)** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **EBIT (Operating Loss)** | **€m** | **(5.6)** | **(4.1)** | **(4.7)** | **(2.9)** |  |  | **EBIT (Operating Loss)** | €m | **(11.0)** | **(9.7)** | **(7.6)** | **(4.7)** |
| Total other income/(expense) | €m | 0.2 | 0.1 | 0.1 | 0.0 |  |  | Total other income/(expense) | €m | (1.5) | 0.3 | 0.1 | 0.1 |
| **Loss before income taxes** | **€m** | **(5.5)** | **(4.0)** | **(4.6)** | **(2.9)** |  |  | **Loss before income taxes** | **€m** | **(12.5)** | **(9.4)** | **(7.5)** | **(4.6)** |
| Tax (expense)/benefit | €m | (0.0) | (0.0) | (0.0) | (0.0) |  |  | Tax (expense)/benefit | €m | (0.1) | (0.1) | (0.1) | (0.1) |
| **Net loss after tax** | **€m** | **(5.5)** | **(4.0)** | **(4.7)** | **(2.9)** |  |  | **Net loss after tax** | **€m** | **(12.6)** | **(9.5)** | **(7.6)** | **(4.7)** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| EPS/(LPS) | € | (0.01) | (0.00) | (0.01) | (0.00) |  |  | EPS/(LPS) | € | (0.02) | (0.01) | (0.01) | (0.01) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Financial metrics** | **Unit** | **FY25A** | **FY26E** | **FY27E** | **FY28E** |  |  | **Cashflow Analysis** | **Unit** | **FY25A** | **FY26E** | **FY27E** | **FY28E** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Revenue growth | % | 21% | 0% | 17% | 21% |  |  | Receipts from clients | €m | 12.6 | 10.5 | 14.3 | 17.0 |
| Gross margin | % | 64% | 69% | 71% | 73% |  |  | Payments to employees & suppliers | €m | (21.4) | (19.4) | (20.2) | (20.3) |
| Operating EBITDA growth | % | 9% | (2%) | 25% | 47% |  |  | Taxes | €m | 0.4 | 0.6 | (0.1) | (0.1) |
|  |  |  |  |  |  |  |  | Other (gov grants chg in w.c. etc) | €m | 0.0 | 0.1 | 0.1 | 0.1 |
| **Valuation multiples** | **Unit** | **FY25A** | **FY26E** | **FY27E** | **FY28E** |  |  | **Operating cash flows** | **€m** | **(8.4)** | **(8.2)** | **(5.9)** | **(3.3)** |
|  |  |  |  |  |  |  |  | Purchse of PP&E | €m | (0.1) | (0.1) | (0.1) | (0.1) |
| EV/Sales | × | 10.9 | 10.9 | 9.3 | 7.7 |  |  | Acquisition of intangible assets | €m | (0.1) | (0.0) | (0.0) | (0.0) |
| EV/EBITDA | × | nmf | nmf | nmf | nmf |  |  | **Investing cashflows** | **€m** | **(0.1)** | **(0.2)** | **(0.2)** | **(0.1)** |
| PER (reported) | x | nmf | nmf | nmf | nmf |  |  | Proceeds from issue of shares | €m | - | 11.7 | - | 10.0 |
|  |  |  |  |  |  |  |  | Other | €m | (0.3) | (0.8) | (0.3) | (0.3) |
| **Balance Sheet Ratios** | **Unit** | **FY25A** | **FY26E** | **FY27E** | **FY28E** |  |  | **Financing cash flows** | **€m** | **(0.3)** | **10.8** | **(0.3)** | **9.7** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Debt/(Net Cash) | €m | (4.6) | (7.1) | (0.8) | (7.1) |  |  | **Net Cashflow** | **€m** | **(8.8)** | **2.5** | **(6.3)** | **6.3** |
| Net Debt/Equity | % | (1.3x) | (1.0x) | (1.0x) | (1.0x) |  |  |  |  |  |  |  |  |
| Net Debt/EBITDA | % | 0.4x | 0.8x | 0.1x | 1.7x |  |  | **Balance Sheet** | **Unit** | **FY25A** | **FY26E** | **FY27E** | **FY28E** |
| Interest cover (EBIT) | x | nmf | nmf | nmf | nmf |  |  |  |  |  |  |  |  |
| FCF per share | A$ | (0.02) | (0.02) | (0.01) | (0.01) |  |  | Cash | €m | 4.6 | 7.1 | 0.8 | 7.1 |
|  |  |  |  |  |  |  |  | Receivables | €m | 4.7 | 4.7 | 5.5 | 6.6 |
| **Segment breakdown** | **Unit** | **FY25A** | **FY26E** | **FY27E** | **FY28E** |  |  | Inventory | €m | 2.9 | 2.9 | 2.9 | 2.9 |
|  |  |  |  |  |  |  |  | PP&E | €m | 1.1 | 1.0 | 1.0 | 1.0 |
| Recurring revenue | €m | 7.7 | 9.1 | 10.8 | 13.4 |  |  | Intangibles | €m | 0.7 | 0.5 | 0.4 | 0.3 |
| Other revenue | €m | 4.3 | 3.0 | 3.3 | 3.6 |  |  | Other | €m | 1.6 | 1.4 | 1.4 | 1.4 |
| **Total revenue** | **€m** | **12.0** | **12.1** | **14.1** | **17.0** |  |  | **Total Assets** | **€m** | **15.5** | **17.6** | **12.0** | **19.3** |
|  |  |  |  |  |  |  |  | Payables | €m | 10.7 | 9.0 | 10.0 | 11.2 |
|  |  |  |  |  |  |  |  | Deferred revenue | €m | - | - | - | - |
| **Market information** |  |  |  |  |  |  |  | Lease liabilities | €m | 1.1 | 1.0 | 1.0 | 1.0 |
|  |  | **A$** | **EUR€** |  |  |  |  | Other | €m | 0.0 | 0.1 | 0.1 | 0.1 |
| Current price | $ | 0.17 |  |  |  |  |  | **Total Liabilities** | **€m** | **11.8** | **10.1** | **11.1** | **12.2** |
| Market cap | $m | 143 | 83 |  |  |  |  | Share capital & others | €m | 0.8 | 0.8 | 0.8 | 0.8 |
| Enterprise value | $m | 131 | 75 |  |  |  |  | Share premium | €m | 147.3 | 159.1 | 160.1 | 171.0 |
|  |  |  |  |  |  |  |  | Reserve | €m | 1.5 | 1.7 | 1.7 | 1.7 |
|  |  |  |  |  |  |  |  | Retained earnings | €m | (146.0) | (154.2) | (161.8) | (166.5) |
|  |  |  |  |  |  |  |  | **Shareholder Equity** | **€m** | **3.6** | **7.5** | **0.8** | **7.0** |

Source: Homodeus estimates, Company data, as of 26 Aug 2026

---

## Disclosures

### Personal disclosures

The analyst(s) received assistance from the subject company or companies in preparing this research report. The company provided communication to senior management and information on the company and its industry. As part of due diligence, the analyst(s) have independently and critically reviewed the communications and information provided by the company to form the opinions expressed in this report. The analyst(s) have taken care to maintain honest and fair objectivity in writing this report and making any recommendation. The analyst(s) responsible for preparing this report receive compensation from Homodeus One Pty Ltd. No part of the fee, compensation, or employee remuneration paid has, or will, directly or indirectly impact the content provided in this report.

### Company disclosures

The companies and securities mentioned in this report include:

Oneview Healthcare PLC (ASX:ONE) | Price: A$0.16 | Valuation: A$0.28

*Price and valuation as at 27 August 2026 (*not covered)*

### Additional disclosures

This report has been prepared and issued by Homodeus One, in consideration of a fee payable by Oneview Healthcare PLC

### Other disclosures, disclaimers and certificates

**Methodology & Disclosures**

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*Wei Sim (wei.sim@homodeus.one · +61 493 723 335) — Published 2026-08-27*