Redeye states that Ngenic’s financial performance was below our projections on sales and profitability. While margins proved weaker than we anticipated, hardware sales showcased stellar performance with an impressive y/y growth of 205%. However, considering Ngenic’s current cash burn and available funds, it is likely that the company will require external funding to sustain its operations and growth trajectory. As a result, our updated view of the company gives rise to a new fair value range and base case.

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This is a press release from Redeye - Research Powered Investment Banking. www.redeye.se/

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Ngenic Q2 2023 - Solid sales, limited funds

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