Australia's Nuix slumps 25% to hit record low after dismal earnings forecast

Nuix

18/07/2022 01:49

** Macquarie-backed software provider Nuix Ltd  NXL.AX 
falls as much as 24.7% to its record low of A$0.550
    ** Says prelim FY22 EBITDA of between A$10 mln ($6.80 mln)
and A$12 mln, significantly down from A$30.5 mln statutory
EBITDA last year (https://bit.ly/3OfDMGc)
    ** FY22 prelim stat revenue of A$151 mln to A$154 mln, down
from A$176.1 mln
    ** Says experienced "materially higher non-operational legal
costs" during FY
    ** Expected drop in stat revenue due to lower new customer
sales and deferred sales
    ** NXL marks its biggest intraday pct drop since Feb. 26,
2021
    ** NXL biggest percentage loser in the ASX All Ordinaries
index  .AORD 
    ** Down 66.8% this year, as of last close, vs a 12.6%
increase in the ASX All Ordinaries index

($1 = 1.4702 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))