Redeye anticipates that Physitrack will resume its sequential growth trajectory in Q1 2024, albeit with slightly muted year-on-year growth, given the tough comparisons. Additionally, we expect the continuation of the encouraging trend of positive free cash flow seen in the last quarter. Physitrack’s Q1 2024 report is set to be released on 14 May at 08:00, followed by a conference call at 10:00. We maintain our fair value range with a Base case valuation of SEK35 per share.