Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi, just wondering on the future of this hit list company. Very strong recent run. Is there any data analytics investigating how far it could run. Is there still an outstanding legal matter hanging over it? Thanks for your great advice.
Paul,
NXL isn’t actually on any of MM’s Hitlists (it was previously) but it has enjoyed a stellar run over the last 6-months although it is still well down from its 2021 high. It’s been a volatile stock over the years, with mixed news driving the stock both down and up. From a “data analytics” or technical analysis perspective we would say the stock looks good while its holds above $5.
Following the scandals in 2021 following revelations of internal disputes, allegations of financial mismanagement, and issues with the accuracy of the company’s reported earnings the situation appears to have stabilised.
The stock has almost reclaimed its IPO price of $5.31 – thanks to significant turnarounds in its revenue and earnings. NXL grew its top line revenue by 20% to $220m in FY24, while bottom line (profit) reversed from a loss of $5.6m to a positive $5m. Importantly, Nuix generated free cash flow of $12 million during the year. The Nuix Neo is the company’s latest and most advanced platform, designed to tackle even more complex and massive data challenges with a lot more efficiency which has clearly excited the markets.
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