Long story short. Their 30 June 2021 ACV (on a constant currency basis) was $133.8m (on the 30 June 2021 exchange rates it was $128.2m). They are now forecasting $150m-$160m on a constant currency basis (which is the 30 June 2021 exchange rates) i.e.
Forecast growth = 17% to 25% (i.e. 150/ 128.2 - 1 = 17% and 160/128.2 - 1 = 25%). Now thats ok but at the lower end of their 20-40% annual growth target. Probably doesn't justify the share price losing 15% but wouldn't say its a good announcement.
NEA Price at posting:
$1.91 Sentiment: Hold Disclosure: Held
