Det er lige præcis det, det betyder. Først tænkte jeg, at kursreaktionen var helt overdrevet, da der i nedjusteringen blot stod, at væksten aftog, men de undlod at nævne, at omsætningen faldt QoQ. Måske er forretningen reelt sæsonbetonet, men i nedjusteringen varsles der om dårlige tider i mindst 9 måneder fremadrettet? Og under det forrige conference call blev det sagt, at H2 normalt er bedre end H1. Dvs. årsagen er konkurrence og ikke sæsonudsving?
Second quarter: 1 April – 30 June
“Total revenue increased by 31% to EUR 59.3 million (45.4). On a constant currency basis, the revenue growth was 33%.
Adjusted operating profit (EBIT) increased by 31% to EUR 48.4 million (37.1), with a margin of 82% (82). Adjustments mainly comprise IPO-related expenses and severance pay to the former Group CEO.
Profit for the period amounted to EUR 45.7 million (32.0), and fully diluted earnings per share amounted to EUR 0.158 (0.111).
Cash flow from operating activities amounted to EUR 43.1 million (26.9).”
Fra nedjusteringen for Q3 2026:
“Total revenue for the period is expected to be approximately EUR 57.5 million to EUR 58.5 million (Q3 2025: EUR 52.0 million), an increase of approximately 11 to 12 percent compared to the corresponding period in 2025. The adjusted operating profit (EBIT) for Q3 is expected to be approximately EUR 48 to 49 million (Q3 2025: EUR 42.1 million), with an adjusted operating margin (EBIT margin) of approximately 83 percent (Q3 2025: 81 percent)”