Urb-it Q4 2022: Weaker than expected - Redeye
Redeye shares its initial thoughts on Urb-it’s Q4 report, where sales was SEK0.3m higher than previously disclosed, but EBITDA was SEK6.5m weaker than expected. This seems to be driven by an increased number of couriers and expansion in Spain. Urb-it highlights this is the first time ever the company managed to generate a positive gross margin 1 (gross margin after direct delivery costs) which we find positive. However, it is impossible for us to track as the company does not share any KPIs regarding COGS1 and COGS2. We, therefore, urge the company to start doing so in order to increase transparency, which we argue is key to restoring investors’ confidence after a turbulent 6-month period for the share.
Länk till analysen i sin helhet: https://www.redeye.se/research/887690/urb-it-q4-2022-weaker-than-expected?utm_source=finwire&utm_medium=RSS