NXL -15.38%: last year’s hottest IPO has taken a steep fall from grace. The analytics business Nuix was the worst of the index today on the back of soft revenue guidance that missed prospectus forecasts. Annualised Contract Value (ACV) is expected in the range of $168-177m, well below the $199.6m the book runners used to value the business coming into the December listing. The miss was blamed on customers transitioning to consumption based licence which the company hopes will reap longer term benefits, but weigh on short term income. The stock had been languishing since the first half results in Feb, and traded below the $5.31 issue price since last week.
MM has no interest in NXL here
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