As I understand it, Inderes’ materials have suggested that players particularly involved in software development with a larger share of the private sector are in a weak position, while those operating in the public and more traditional sectors are doing reasonably well this year. In other words, in light of Inde’s thoughts, this wouldn’t be Siili’s year.
Guidances in the industry look like this:
In the latest company report, Joni wrote this:
Market weakness has hit areas of expertise that are crucial for Siili, specifically software development and the automotive industry. Geographically, international revenue development turned to a 4% decline in Q4 based on our calculations (Q3’23 estimate +6%).
The stock seems to be quite modestly valued, and I wonder if these bleaker scenarios have already been factored in. As I understand it, Inderes is positive in the slightly longer term; is the assumption there that sooner or later, growth will inevitably come through the automotive sector, among others, and cost-cutting measures will start showing up on the bottom line?
Fortunately, there is cash, and there don’t seem to be major issues regarding profitability, and the customer base is also quite diverse, which one would believe provides some foundation for the business.
I can’t say much about the communications, but when it’s been felt in this thread as well that the communications aren’t sufficient or good enough, doesn’t that often suggest there might not be any good news in the near future? It’s probably easier to be open and direct if things seem to be going well? The guidance doesn’t really make me feel any more secure.
This was just some thinking out loud without any kind of expertise; of course, I’ve read quite a bit, but that’s not enough if you don’t know the industry (I don’t know any industry 
) and don’t understand that much about investing either. The range for what could happen here seems very “wide” for most people, which makes me perceive the company as a bit riskier than other players in the sector.
I am a Siili owner and have put quite a few euros into it. 
OST:
AOT:
