Redeye provides an initial take following Senzime’s Q3 2026 report. Sales came in exactly in line with our estimate, and we are positive about finally seeing the start of a sales recovery after a first half that did not live up to expectations. The gross margin was strong, although it was supported by a positive one-off effect, and the company continues to bring down its cost base, which is a prerequisite for reaching positive cash flow in Q4 2026. Overall, we view the report positively and argue that a positive share price reaction of 5–10% is justified today. We will shortly release a research update, in which we expect to fine-tune our estimates.
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