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Redeye reduces its forecasts and Base case, which, however, remains significantly above the current share price, following soft ARR growth in Q2. Management saw a gradual improvement in new sales and retention during the quarter, and we expect ARR growth to take off in H2 2021. The net cash position of SEK +300m, which will last for ~5 years given the current burn rate, gives management time to focus on the business.
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