Redeye: Modelon Q3 2024 - Adapted cost base and strong cash position
Redeye updated its forecast and valuation following the Q3 report, which showed strong ARR growth (in constant currency) but somewhat softer topline growth. While the overall case remains intact, partly driven by the upcoming effects of the cost reduction program and the strong cash position, we now expect software revenue growth to be somewhat slower than initially anticipated. Our new Base case fair value is SEK22 (SEK26) per share.
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This is a press release from Redeye - Research Powered Investment Banking. www.redeye.se/