Imint has delivered on the strategic plan to become a dominant supplier of video enhancement products within the smart phone industry. Imint has a proven and now also profitable business model which constitutes a solid base for further innovation and growth. We therefore believe the company is now entering a new phase where increased investments will generate growth in terms of new products but also expanding into new verticals.

Due to the impressive performance in the last quarters, we increase our sales and margin estimates both in the short and medium term. Imint has a proven business model that is generating positive cash flows and cash at the end of the year amounted to SEK 35m. This lowers our perceived business risk and leads to a lower discount rate and a higher fair value range. The new WACC used in our Base case scenarios amounts to 11%. This yields a higher base case of SEK 27 per share and a fair value range of SEK 11 to SEK 38 per share.

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