Management reports that COVID-19 appears to have continued to accelerate the digital transformation during Q3, and despite consumers returning somewhat to physical retailers in Q3, the underlying demand for Litium’s product remains enhanced. However, Litium’s customers currently remains somewhat cautious in making new investments in terms of digital commerce solutions.
Final thoughts
Litium has been on a solid run so far this year, the share is up ~31% YTD. We think Litium is well-positioned to continue capitalising on the ongoing, and increased, shift towards retailers needing a digital commerce platform. During the quarter several new clients, like BE Group in Sweden, but Litium also signed its first Danish customer in Swim & Fun.
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