Kahoot! shares plummet on 'rather large' Q4 sales miss

Kahoot ASA

10/01/2023 09:41

** Shares in Kahoot!  KAHOT.OL  plummet 17% after the
game-based learning platform provider reported prelim results
for Q4, saying it was dissatisfied with its end-of-year sales
    ** The company posted an invoiced revenue of about $43.5 mln
for Q4 versus guidance of $50-55 mln provided as part of the
company's Q3 report in November
    ** "A rather large top-line miss in the quarter versus
guidance provided only a few months back unfortunately now
becomes a pattern for Kahoot! and will raise questions on
management's visibility on short-term trading," J.P.Morgan flags
    ** The company said continued macroeconomic slowdown has
translated into lower-than-expected invoiced revenue growth for
Q4
    ** "We are not satisfied with our sales performance at the
end of the year," the company said, announcing it would "take
additional steps to adapt to current market circumstances"
    ** The share is on track for its worst day since Nov. 3
2022, when it closed 20% lower
 (Reporting by Louise Breusch Rasmussen)
 ((Louisebreusch.rasmussen@tr.com))