Sleep Cycle: Strong subscriber growth and raised guidance - Redeye
Redeye maintains its fair value range for Sleep Cycle following the Q3 2024 quarterly report, which matched our expectations on sales, while EBIT was slightly stronger than anticipated. The robust subscriber growth—28,000 new subscribers year-over-year—stemmed from the new strategy, and management walked the talk by delivering on their promises, as they previously indicated they expected results in H2, which we now witnessed. Due to the strong performance of Q1-Q3 2024, the EBIT guidance 2024 has been raised. We reiterate our positive view and our Base case fair value of SEK55.
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