Redeye maintains its view of Freja following solid Q3 KPIs. Freja added SEK1.8m in ARR in the quarter, up from SEK1.5m in Q2. That is the largest Q2-to-Q3 increase since Freja began reporting the metric. We will be back with the Q3 2026 Update, including revised estimates and the Base Case, after the full Q3 2026 Report on 5 November. The outcome was just slightly below our expectations, and we do not expect any material revisions.
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