Why have Nuix (NXL) shares fallen again today?
NXL -17.8%: the data analytics company downgraded guidance for the second time in 6 weeks today. NXL has had a tough start to listed life after it completed an IPO out of Macquarie last year at $5.31/share. Revenue is now expected in the range of $173-182m, only a 3% downgrade at the midpoint however the range has widened from $5m to $9m which is particularly concerning given they re-iterated prior guidance just a fortnight ago at their investor day. The company pointing to a few key deals likely to fall into FY22 weighing on guidance which would suggest a strong start in the new year, though the market clearly struggling to keep faith in the commentary coming from management. They’ve lost credibility and it will take clean-out to regain the markets faith I would think.
