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Press release

Redeye: Ngenic Q2 2023 - Solid sales, limited funds

Ngenic

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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