Better Collective´s third quarter was another ATH quarter, with a Y/Y growth of 54% and organic growth of 25%. However, both revenues and profit margins came in below our estimates. Nevertheless, the outlook is impressive, and Better Collective continues to deliver on its acquisition strategy. We expect that the US market will become a major growth driver and that Better Collective´s profitable growth story will continue. We have updated our estimates and increased the fair value to SEK 100 (98) per share in Base case.