MIPS AB: Q1-23 Results, Soft Demand Until Q2, Recovery in H2 Expected

MIPS fell 12% to SEK 450/share after results announcement, inching closer to my buy price.

MIPS brand logo

MIPS AB is a monopoly in bike helmet safety systems, a compounder in the making. It reported a challenging Q1’23 results. The market didn’t like it but I see signs of market recovery in within a few quarters, in-line with my expectation, and sooner than the industry bellwether, Shimano, also a sleep-well business that I deep dived into an…