Formpipe Q2’20: Licenses, ACV, S&M and EBIT beating our forecasts

Research Note

2020-08-19

09:20

Redeye likes Formpipe’s Q2-report, highlighting its defensive characteristics and showing higher software growth than we expected. EBIT was 52% above our forecast, mainly due to solid License sales. However, also ACV and S&M came in stronger than we anticipated. Our first impression suggests minor upward revisions of forecasts and Base case.

FN

Fredrik Nilsson

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