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Nuix Ltd. ( (AU:NXL) ) just unveiled an update.
Nuix Ltd. has released an update on its expected financial results for the half year ending December 31, 2024. The company anticipates an 8% to 9% increase in Annualised Contract Value (ACV) compared to the previous corresponding period, and statutory revenue is expected to see a 6% to 8% rise. Although statutory EBITDA is projected to decrease by 7% to 19%, Nuix remains positive about meeting its FY25 strategic revenue growth targets. The company is experiencing growth in its Nuix Neo product, showing a 360% increase in ACV, with an expansion to 46 customers. Despite challenges in procurement cycles due to complex contracts, Nuix continues to fund its software development from free cash flow and maintains no drawn debt.
More about Nuix Ltd.
Nuix Ltd. operates within the technology industry, primarily focusing on software solutions that facilitate data analysis and investigation. The company is known for providing services and products that aid in digital forensics, cybersecurity, and information governance, catering to a diverse market that includes law enforcement, corporations, and legal professionals.
YTD Price Performance: -14.56%
Average Trading Volume: 1,207,381
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$1.79B
For a thorough assessment of NXL stock, go to TipRanks’ Stock Analysis page.
