CLIQ Digital - Awaiting developments

CLIQ Digital's Q125 results show the continuing impact of tough underlying market conditions and the reduction in the business's scale. However, there is a modest quarterly sequential improvement in North American revenues, although it is too soon to judge if this is sustainable. The group still has a strong cash position (lease debt only), giving some resilience to prospects, and costs have been contained, maintaining adjusted EBITDA margins. There is no further news on the corporate developments disclosed in March, either a potential partial share offer and/or delisting, overshadowing any appraisal of the fundamentals. It would be reasonable to expect clarification by the H125 figures or postponed AGM in August at the latest. The share price is up 84% since the disclosure of the possible transaction.

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