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SENASTE
Driven by the negative FX effect Leaddesk posted Q2 sales below our estimate while the EBITDA was in line with our expectation. Due to reporting principles the FX impact on ARR is smaller and thus ARR came in 2% above our forecast and was up 10% y/y. Guidance was repeated. Despite the negative sales deviation in Q2 the solid ARR performance should offset the estimate revisions. All in all, our first read is slightly negative / neutral.
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