Redeye reinforces its positive view of CombinedX. The robust Q4 – with improving margins and underlying sales growth – completes a strong 2023 following up a softer IPO year. CombinedX’s focus on specialist companies working with one or a few software platforms has paid off, and management expects current market conditions to remain throughout 2024. We raise our forecasts and Base Case somewhat.

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CombinedX - Strong Finish of Solid 2023

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