Relesys: Likely better Q3 profitability before Q4 ramp-up - ABG
Tämä on kolmannen osapuolen analyysi, eikä välttämättä vastaa Inderesin näkemystä tai arvoja
Q3e: 36.5% y-o-y ARR growth
A seasonally weaker quarter, but profitability likely better
Limited estimate revisions; FVR of DKK 3.1-8.4
Q3e: 36.5% y-o-y ARR growth
We forecast Q3e ARR of DKK 54.9m for 36.5% y-o-y growth, driven by 3.5% y-o-y ARR churn, uplift of 16.5% and new sales of 23.5%. We forecast Q3e revenues of DKK 14.2m. Note that Q3 will be the first with full quarterly reporting (but we have no cost comparables from Q3'22 available).
A seasonally weaker quarter, but profitability likely better
Limited estimate revisions; FVR of DKK 3.1-8.4
Q3e: 36.5% y-o-y ARR growth
We forecast Q3e ARR of DKK 54.9m for 36.5% y-o-y growth, driven by 3.5% y-o-y ARR churn, uplift of 16.5% and new sales of 23.5%. We forecast Q3e revenues of DKK 14.2m. Note that Q3 will be the first with full quarterly reporting (but we have no cost comparables from Q3'22 available).