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Redeye comments on MGI’s Q1 2024 report, which was roughly in line with our expectations. Revenues grew 21% organically adjusted for FX, and the company is steadily expanding its software client base, which increased by 30% y/y. With continued increases in advertising budgets from existing customers, we believe MGI is poised for sustained organic growth throughout 2024. We expect to make minor estimate revisions on the back of the report.
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