Acuvi Q1 2023: Initial take - Redeye

Redeye was hoping for a bit more in terms of growth, and so did Acuvi we believe. Sales in the first quarter were flat Y/Y, but declining when adjusted for currency effects. Preliminary numbers were already published, so no big surprise in today’s Q1 report. On a positive note, we see very solid gross margins and a well contained cost base. Moreover, Acuvi now has a permanent CEO as Olof Stranding will remain at the helm. Despite a slow Q1, we believe sales will recover during the year as a number of large business projects start materializing. We will however have to lower our near-term growth forecasts.

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