Plejd reports Q3 2026 numbers on 16 October. We preview our expectations and highlight three proprietary data points: Ahlsell-level sell-through of the new LED panel (LPN-01), app store ranking trends across key markets, and our search-based demand tracker. Our data gives a slightly mixed picture this quarter, and we therefore take a more cautious approach to Q3. We expect sales of SEK 269m (+25% Y/Y), some 4% below consensus, and an EBIT of SEK 58.5m (margin of 22%), 9% below consensus. We see a risk that the report misses consensus slightly, primarily given tough comps in Sweden, where sales grew 37% Y/Y in Q3 2025. We reiterate our positive view of Plejd. Our fair value is marginally nudged downwards to SEK1,139 (previously SEK 1,147).
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