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Leaddesk Q3: Solid beat in EBITDA, ARR marginally below - SEB

Leaddesk's Q3 sales and ARR came in marginally below our estimates. However, the profitability in the quarter came in stronger than expected with EBITDA topping our estimate by EUR 0.3m. The read is that the acquired Länsilinkki operations turnaround has been faster than expeccted. Guidance (profit warning in September) unchanged and based on Q3 ARR and profitability should be easily reached. All in all, we find the report a relief with positive read to profitability.

Leaddesk's Q3 sales and ARR came in marginally below our estimates. However, the profitability in the quarter came in stronger than expected with EBITDA topping our estimate by EUR 0.3m. The read is that the acquired Länsilinkki operations turnaround has been faster than expeccted. Guidance (profit warning in September) unchanged and based on Q3 ARR and profitability should be easily reached. All in all, we find the report a relief with positive read to profitability.
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