Claranova reported revenue growth of 3% y-o-y in Q222 and 1% y-o-y for H122, with growth in Avanquest and myDevices offsetting a decline in the PlanetArt business. Management expects to see a gradual return to growth for PlanetArt as it adapts its customer acquisition strategy and consumers revert to pre-COVID buying patterns, as well as continued positive momentum for Avanquest. We have made minor changes to our revenue forecasts and maintain our EBITDA and EPS forecasts for FY22 and FY23.
11 Feb 2022
Claranova - Gradual return to growth
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Claranova - Gradual return to growth
Claranova reported revenue growth of 3% y-o-y in Q222 and 1% y-o-y for H122, with growth in Avanquest and myDevices offsetting a decline in the PlanetArt business. Management expects to see a gradual return to growth for PlanetArt as it adapts its customer acquisition strategy and consumers revert to pre-COVID buying patterns, as well as continued positive momentum for Avanquest. We have made minor changes to our revenue forecasts and maintain our EBITDA and EPS forecasts for FY22 and FY23.