Redeye provides its initial take on Surgical Science’s Q3 2022 report, which came in above our estimates. We judge that positives from the report include strong Educational Products sales (c14% above our estimates) and solid EBITDA and EBIT margins (both c4ppt higher than we estimated). Notable negatives include weak cash flow and a sequential decrease of c11% in simulation software license revenues in Q3, subject to significant quarterly fluctuations.
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