Redeye provides an update following Senzime’s Q3 2026 report. Overall, we view the report positively, as it shows the start of a recovery in sales after a weak first half of 2026, a strong gross margin and continued cost control, while management sends a positive signal about the coming quarters. We lower our sales estimates somewhat, reflecting the slow roll-out of monitors, but make positive adjustments to our gross margin and OPEX assumptions. Together with a higher WACC, this somewhat lowers our Base Case. However, our fair value continues to suggest that the share is currently cheap.
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