Fortnox Q3’20: Beating EBIT by 11%, slight miss on ARPC
Redeye sees a predominantly solid Q3 report, with a net customer intake in line with 2019 – as expected – and an impressive EBIT margin. While transaction-based revenues continued to dampen ARPC growth, Fortnox saw an improvement during the end of the quarter. We will likely increase our EBIT forecasts and Base case.