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Vitec Q2 2024: Transaction-based recurring revenues fuel top-line beat - Redeye

Redeye updates its estimates and valuation following Vitec releasing its Q2 2024 report. We judge both organic and acquired growth proceed at a decent pace. An exceptional quarter for transaction-based recurring revenues fuelled a significant top-line beat, while EBITDA and EBITA margins slightly missed our projections. Our view of Vitec’s investment case remains essentially unchanged, and we nudge up our estimates and valuation.

Redeye updates its estimates and valuation following Vitec releasing its Q2 2024 report. We judge both organic and acquired growth proceed at a decent pace. An exceptional quarter for transaction-based recurring revenues fuelled a significant top-line beat, while EBITDA and EBITA margins slightly missed our projections. Our view of Vitec’s investment case remains essentially unchanged, and we nudge up our estimates and valuation.
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