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Redeye notes that the underlying Q4 figures came in stronger than anticipated, primarily due to better-than-expected sales in both Automotive (adjusting for a change in accounting principles related to the NRE business) and Behavioral Research. The company reported an EBITDA-CAPEX adjusted for one-offs of SEK-31m, compared to our estimate of SEK-43m, further strengthening our belief that the company will face accelerating growth from here and reach cash-flow break even by late 2025.
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