NuWays AG Recommends 'BUY' for Tonies SE with Toniebox Lite Launch

NuWays AG has updated its rating on Tonies SE to 'BUY', setting a 12-month target price of €18.50. The company recently announced the launch of the Toniebox Lite, a smaller, economical alternative to its TB2 model. Priced at $79.99, the Lite provides access to the Tonies ecosystem, debuting in North America with pre-orders available through tonies.com and walmart.com. It will be in-store at Walmart from August 22, expanding to additional North American channels by October.

The launch in the UK, Ireland, Australia, and New Zealand is scheduled for fall 2026, with a DACH and France release anticipated in 2027. Despite concerns about potential market overlap, NuWays AG views the two devices as complementary. The Toniebox Lite lacks key features like Tonieplay gaming, making it suitable for second-box purchases or price-sensitive new customers.

This strategy aims to expand the customer base, with each device sold boosting high-margin figurine sales. Tonies' focus remains on adapting its content offerings, targeting significant growth in the North American market where penetration is currently lower than in Europe. The company's FY26 sales forecast remains optimistic, with group sales projected to rise by over 20% year-on-year, particularly in North America.