Solid ARR development and improving churn set to continue ARR at end-quarter was EUR 9.8m, up 29% q-o-q and partly boosted by the consolidation of Champion Health. However, as the company is transitioning some of its non-recurring revenue to a subscription-based model, the ARR should see solid growth ahead. In addition, we note that the rolling 12-month churn rate continues to improve, which we find encouraging; it is now down to 1.3% (monthly basis). However, we believe there remains room for improvement, and it seemed like a focus point when CEO Henrik Molin mentioned it on the conference call.
Estimate revisions and valuation We raise our sales estimates slightly, primarily following the strong Virtual Care growth. The CEO also commented on the macroeconomic environment, which did not appear to have weighed on growth – quite the opposite, in fact, providing further support to our sales estimates. On costs, we raise opex ex. D&A largely in line with our sales revisions, but adjust D&A, primarily acquisition-related amor ... Läs mer på ABG Sundal Collier
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