Redeye shares its initial take on Modelon's Q3 2026 report. As we had expected, ARR returned to sequential growth for the first time in more than a year, rising 1% q/q (constant currency) to SEK47.2m, 2% above our estimate. New software wins included Munters, a global leader in data centre climate solutions, which supports the data centre cooling thesis. Net sales of SEK15.9m and adjusted EBIT of SEK-3.1m came in slightly below our forecasts. As the shortfall stems from non-recurring solution revenue and other operating income, we pay little attention to it and consider the report well aligned with our forecasts overall. Management sees opportunities for continued positive ARR development and will present its plans at a Capital Markets presentation on 10 November.
LÄS MER
