TH1NG: Transitioned to a pure IoT Play - Redeye
Redeye has revised its forecast and valuation following TH1NG’s Q2 2024 report. The report was slightly stronger than expected, mainly due to the divestment of the broadband business, which has improved gross margins and OPEX. However, we believe it will take time for the remaining IoT business to compensate for the revenue loss fully. The company has adjusted its cash flow target to 2025 (from the end of 2024), and our new base case valuation is SEK 2.2 (2.7).
Länk till analysen i sin helhet: https://www.redeye.se/research/1038176/th1ng-transitioned-to-a-pure-iot-play?utm_source=finwire&utm_medium=RSS