Leaddesk: Leaving some business on the table - SEB
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Leaddesk: Leaving some business on the table - SEB

Although Leaddesk’s Q4 headline numbers were well above our estimates, we cut our forecasts, as ARR declined due to weaker profitability business being left on the table. However, the company’s profitability focus is progressing well, which should allow its market consolidation and pan-European growth efforts to continue. Our fair value range falls to EUR 10-14 (12-15).

Although Leaddesk’s Q4 headline numbers were well above our estimates, we cut our forecasts, as ARR declined due to weaker profitability business being left on the table. However, the company’s profitability focus is progressing well, which should allow its market consolidation and pan-European growth efforts to continue. Our fair value range falls to EUR 10-14 (12-15).
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