Almanakka has written about Admicom after Q1. 
Valuation: Despite the post-results development, the stock has become cheaper quite quickly since the last update. Compared to its own history, it’s actually quite cheap. You can get it at all-time-low multiples at the bottom of the cycle. I also find this appealing, even though I wasn’t particularly thrilled by this earnings release, co-determination negotiations, and guidance risk.