Zwipe Q3 2023: Too little too late

Research Update



Redeye thinks the Q3 report from Zwipe was soft with almost no revenues and a negative cash flow higher than our estimates. The cash burn decreased from last quarter and is set to decrease again in the coming quarters but we believe the company needs to bring in funding within the next 3 to 6 months. On the positive side we note that Zwipe Access is progressing well but we fear that it's a bit too little, too late.


Niklas Sävås

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