Redeye updates its view on Artificial Solutions (AS) on the back of its Q3 2023 report. ARR grew at healthy levels (39% y/y). However, the ARR in September was negatively impacted by robot callers on WhatsApp across the US market, which led to a reduction of the ARR by the end of the quarter. Following some internal reporting changes regarding ARR and a slower intake of new customers, we lower our estimates and valuation.

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Artificial Solutions - 39% ARR growth despite disruptions

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