We have lowered our revenue estimates by 2% and our Cash-EBITDA by 6-10% due to a continued challenging market in the short term, with abnormal churn and a tough upsell environment. We expect a relatively soft Q2 print, with ARR at NOK 505m and EBITDA adj. at NOK 51m (cons.: NOK 51m). Industry and peer commentary indicate that we are nearing a turning point. While we view the current share price as representing an attractive entry point in the longer run, we find the shorter-term rebound case we ....
