Skolon: '25e growth backed by Skolon Guardians - ABG
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Q4'24e organic sales growth of 24% y-o-y
Minor estimate changes
FVR of SEK 30-45 reiterated
What to expect in Q4'24e
We expect solid sales in Q4, but relatively weaker growth compared to previous quarters of the year, as the quarter is seasonally influenced by the fact that schools tend to buy licences and new tools before the new school year rather than in the middle of it. For Q4'24, we expect sales of SEK 30m (24% y-o-y) and EBITDA of SEK -1m. Although we expect a strong gross margin, the fixed nature of opex leads to a negative EBITDA margin for the quarter. We expect paying user growth of 22% y-o-y and consequently an ARPPU of SEK 166.
Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/company-name/Equity-research/2025/1/skolon---25e-growth-backed-by-skolon-guardians/