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Redeye provides an update after Gapwaves Q2 2023 report, which was weaker than expected. While we remain optimistic about Gapwaves’ long-term potential, we have made several short-to-midterm adjustments. Mainly adjusting for a weaker environment within Mobility, revised expectations on “unaccounted-for” automotive product revenue, and lower assumed perpetuity EBIT margin.
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