Redeye recognizes that volatile sales over quarters are currently an issue for the share performance. We have revised our sales estimates downwards after a weaker-than-expected organic growth. We are, however, convinced that the company will bounce back and likely show healthy growth, at least from Q4 and into 2025e. Our view is based on the long-term transformation of acquisitions made and riding the smart city trend. We lower our Base case to SEK 28(29) per share.