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Redeye concludes that Q2 was considerably weaker than it expected, with product sales 68% below estimates. Customers decreasing inventory levels and postponed launches in Automotive caused the weak numbers. Also, customer launches were on the weaker side. The problems however appear to be temporary as Acconeer is experiencing higher customer activity than ever. On the positive side, EVK sales was strong, and that 80% of this related to the new A121 sensor. Redeye will lower its short- and mid-term estimates, but maintains its long-term view of Acconeer's potential. Redeye expects to lower its fair value range by about 10%.
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