Acuvi: Weak top-line but strong pipeline
Research Update
2023-05-10
07:11
Redeye remains confident in the case despite a slow start into 2023 in terms of top-line growth. Q1 sales were flat Y/Y, but down when adjusted for currency effects. On a positive note, gross margins held up very well. We believe Acuvi has a solid business pipeline and expect a pickup in sales during the year. Our valuation is negatively impacted by more cautious assumptions on sustainable margins.
Henrik Alveskog
Oskar Vilhelmsson
Disclosures and disclaimers