Redeye’s outlook on Dynavox remains stable after a record-breaking 2025, during which the company achieved exceptional growth with widespread momentum across all regions and customer groups. While the underlying investment case remains firmly intact, we have slightly reduced our near-term sales estimates to account for FX headwinds. As a result, we have marginally adjusted our Base Case. With structural investments now nearly finalised, we see a clear and credible path towards margin expansion starting in 2026. Despite a complex external environment, management reports no direct operational impact from the current U.S. macroeconomic climate or policy changes
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