Redeye saw a sales development that was lower than expected. The progress is still robust, as Q2 2023 was a positive outlier. While the top line was a bit soft, the underlying metrics like ADTR grew by 26%, and the insurance-based billing is up 44%. The recurring revenue also shows a solid increase of 29%. Overall, it is a bit softer in total. However, the particular development in a quarter is not significant to change our view, especially given the recent positive news regarding CMS rates and the CPT 1 codes. The quarters can be volatile, but the general direction is positive. We do not expect to change our Base case significantly as we still see a long growth trajectory.
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