Bittium has indicated that sales will be H2-weighted. We expect sales from Spain to contribute in Q3, so we see clear sales growth y/y in Q3 and a slight top-line increase from Q2. We expect R&D capitalisation-related amortisation to jump significantly as well. Delivery timing might shift sales between Q3 and Q4, but our focus is on new client announcements, which we think are needed for strong growth to continue in 2027.
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