Redeye notes that Smart Eye’s Q1 reflected mixed performance due to weaker than expected sales in both Automotive and Behavioral Research, but better than expected cost control and much lower capitalized R&D. The company reported an EBITDA-CAPEX of SEK-41.6m, very much in line with our estimate of SEK-41.3m. Adjusted for one-offs amounting to SEK-3.5m, EBITDA-CAPEX beat our expectations, clocking in at SEK-37.8m.
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