ZetaDisplay Q1’21 Review: Prepared for recovery in H2 2021
Redeye retains its positive view on ZetaDisplay following its Q1 report, where management sticks to its positive outlook for the second half of 2021. While the ARR came in somewhat short of our forecasts, solid cost control resulted in an EBITDA beat. We make minor revisions to our forecasts and leave our Base case intact.