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Fortnox

Analyytikko

Sisäpiirin kaupat

Nettovaikuttavuus

Tiedotteet
28.10.
2021

Redeye raises its Base Case and EBIT forecasts following a Q3 with better-than-expected margins. Fortnox is continuously expanding its offering, which we expect to drive future ARPC growth together with increased usage of its current offering.

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Muut analyysit
17.2.
2021

Redeye reinforces its positive view on Fortnox following a Q4 report in line with our forecasts and an interesting acquisition. While Fortnox Finance came in below our forecast, high growth in transaction-based revenue, despite the pandemic, and a solid pipeline for 2021 makes us confident growth will accelerate. We raise our Base case slightly.

Muut analyysit
20.1.
2021

Strong growth message

Muut analyysit
22.10.
2020

-2% sales miss, but EBIT was 6% above our forecast

Muut analyysit
9.10.
2020

Good market conditions have remained in Q3
Fortnox delivered a strong H1’20, despite the pandemic outbreak. We expect it to do the same in Q3e, due to 1) Sweden’s number of bankruptcies declined 25% y-o-y in Q3 (source: UC and SCB); 2) a continued high demand for cloud-based solutions amid increased remote working; and 3) a solid number of newly started companies in Q3, which rose by 12% vs. Q3’19, according to data from Bolagsverket.

We keep our estimates intact ahead of Q3

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Fortnox

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