Mentice Q2 2024: Considerable q/q rebound in sales and profitability beat our estimates - Redeye

Redeye provides its initial take on Mentice’s Q2 2024 report, which exceeded our estimates. We judge that the report's positives include considerably higher-than-expected sales and profitability. Notable negatives include soft operating cash flow and order intake for the quarter. Overall, we expect to nudge up our estimates and valuation, though the company’s q/q volatility makes it hard to extrapolate the strong second quarter to H2 2024e. Still, we judge the company executed on its promise that the unusually weak first quarter did not indicate a more permanent market decline. We expect the share to rally on strong second quarter numbers.

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