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Truecaller: Weak Q4 and expecting continued weakness throughout H1 2023 - Redeye

Redeye argues that the Q4 report was rather weak, but that the weakness fully orignates from external macroeconomic factors that are unavoidable. The company is also clear about expecting a slower ads market at least throughout the first half of 2023. On the positive side, Redeye thinks the company does all the right things, including the successful launch of the new iPhone app and the improved adtech, which rendered more ad impressions per user. Redeye will lower its 2023 estimates, likely resulting in lowering the fair value range by 5-10%.

Redeye argues that the Q4 report was rather weak, but that the weakness fully orignates from external macroeconomic factors that are unavoidable. The company is also clear about expecting a slower ads market at least throughout the first half of 2023. On the positive side, Redeye thinks the company does all the right things, including the successful launch of the new iPhone app and the improved adtech, which rendered more ad impressions per user. Redeye will lower its 2023 estimates, likely resulting in lowering the fair value range by 5-10%.
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