Speqta Q4’20: First comment – Sequential Growth Despite COVID-19
Redeye Research Note 2021/02/23
Speqta´s fourth quarter for 2020 came in stronger than estimated. Net sales came in at SEK 44.6m (estimates SEK 38.4), while adjusted EBITDA came in at SEK 6.3m (estimated SEK 6.1m). We view these numbers as very impressive as the COVID-19 pandemic likely had a significant negative impact on the revenues during the fourth quarter.
We expect that the Content & Comparison, especially Rahalaitos, will gradually recover during 2021 as the society returns to a normal state. Speqta also continues its commercial progress with a successful launch of Vinklubben SMART and several new Affiliate partnerships.
In the AdTech segment, we continue to see massive potential for the BidBrian product that is showing some promising numbers for the closed beta version. BidBrian is expected to be launched during H1 2021.
All in all, a solid quarter for Speqta, and we will follow up the Q4 report with an update of the case.