Redeye provides an initial comment on Safeture’s Q4 2024 report, which showed slower ARR growth than expected, at 8% y/y and -0.5% q/q. ARR was cSEK58m by the end of the fourth quarter, compared to our estimate of cSEK62m. The company also revised its financial target for growth downwards following a continously challenging market environment, now standing at 15% compared to the previous 30%. We are encouraged by the continous cost control, with positive EBIT once again, but expect to lower our estimates and valuation on the back of the report.
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