Verisec Q2'19: Strong growth numbers

Verisec presented their report for the second quarter of 2019 this morning. Sales at SEK 28.2 (19.2) million exceeded our estimates of SEK 20.0 million by a wide margin. Adjusted for the difference in activated costs, the EBIT loss (investments in Freja eID burdens profitability) was in line with estimates. We will return with an updated analysis shortly, where on a preliminary basis, we will raise our sales estimates, which will, however, be mitigated somewhat by higher cost estimates..