INQ Group (Q2 Review): Ink Signed, More Still Drying - Redeye
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INQ Group (Q2 Review): Ink Signed, More Still Drying - Redeye

Redeye notes that INQ's (formerly Anoto) Q2 report delivered a clear net sales beat, though we continue to view the quarter's figures as secondary to the operational evidence of INQ's ability to convert its distribution partnerships into volume through 2027 and beyond, on which growth accelerated to 64% y/y as the first pens and notebooks under the new Filevine partnership were delivered and recognised as revenue. '

Following the beat and a firmer view of INQ's commercial pipeline, we raise our net sales estimates for 2027-2028 on the back of the Filevine ramp and raise our Base Case to SEK0.20 (0.18) per share.

Redeye's stance on the case remains positive, as management has now converted two early-stage commercial discussions into signed, revenue-generating orders in successive quarters.

However, the further opportunities flagged for the second half of 2026, remains an attractive optionality.
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