Plejd

CEO Babak Esfahani comments

As we’ve received many questions regarding the installation pace, we would like to provide information on the installation growth for July and August.

July: 15% growth
August: 21% growth

In the interim report for the second quarter, we communicated that the dip we observed in installations in April had recovered towards the end of the quarter. This trend continued during July and August. The luminaires do not constitute a significant part of this growth, as the products are only now starting to become available in larger volumes to customers.

Please note that growth in revenue and installations does not always correlate due to inventory impacts. Nevertheless, installations consistently serve as the most reliable underlying measure of growth. Currently, macroeconomic conditions still present significant challenges in terms of forward visability.