Dynavox Q2’24: In line with expectations and positive outlook - Redeye

Redeye comments on the Q2 report released earlier this morning. Sales came in as expected, while the gross margin was slightly better than expected at 68.7%. Total growth of 24%, of which 17% was organic, 7% through acquisitions and 1% by currency. All this was exactly as expected, but it was a strong performance again. The results were thus slightly better than anticipated, primarily driven by the positive gross margin deviation. We expect to make some minor adjustments, and we may be too conservative on the organic growth trend for the rest of the year even if the company continues to face strong comparables. We expect to positively adjust our current Base case valuation of SEK 59 per share as we may pencil in a higher growth curve in the long term.

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