Bioservo Q3’23: Sales traction in the Quarter - Redeye

Redeye saw sales that were in line with our expectations. The Carbonhand sales have now started to appear more meaningfully, and there has been some positive news around the progress in some European countries. Cost continued to trend lower, as expected, and came in better than expected in the quarter. We are optimistic about the potential and possibilities as we advance. Sales development is on the slow side, while the market signals are improving. We expect to lower our Fair value range and Base case as the sales development in the short perspective is uncertain, and there is a financing need approaching if sales do not increase as expected at the beginning of 2024e. Based on the predicted estimate changes, our Base case will be tentatively lowered by 20%.

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