Scibase Q2’23: First take – Strong development in Germany - Redeye

Redeye saw a Q2 report showing sales slightly below our estimates in real terms, with a total growth of 36% for the quarter. Costs were higher as marketing efforts were picking up in the US. The gross margin aligned with our expectation of just above 65%. The EBIT result was SEK -13.8m vs. our estimate of -9.1m; the higher marketing costs mostly drove the deviation. Growth continues at a good pace in Germany, while US sales were still hampered in the quarter by delays in the Medicare fee schedule review. Most important is the financing closing, adding SEK 70m during the quarter. We will likely only make small adjustments to our Fair value range and Base case.

Länk till analysen i sin helhet: https://www.redeye.se/research/934790/scibase-q223-first-take-strong-development-in-germany?utm_source=finwire&utm_medium=RSS