Reassuring Q3 report
The report was in line with expectations. With respect to the numbers, Litium achieved an ARR of SEK 73.2m, corresponding to y-o-y growth of ~9% (or SEK 0.2m higher adjusted for platform migrations). Once again, the company beat our EBITDA expectations: this time by SEK 1.4m. This is supportive of the company's free cash flow target in the near term. The deal pipeline is said to be broader and deeper than in Q4 last year, meaning that comps are easier going into Q4'23e.
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