MotorK : Soft Q3 2023; FY 2023 consensus needs to come down
>Soft Q3 20230 trading update - This morning MotorK came with a rather soft Q3 2023 trading update. The company reported Q3 2023 sales of € 9.2m, which is 5.6% below our estimates however still a decent double-digit growth of 14.5% YoY. In terms of mix, SaaS platform revenue came in at € 7.0m (3.4% below AA-OBe, however up 27.2% YoY), and accounted for 75.6% of group. This suggests MotorK’s sales are increasingly built-up of recurring revenues, which we like. Digital ...
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