Sydney, Australia – Global Software company Nuix (‘the Company’, ASX: NXL) today provides an update in relation to expected earnings for the full year ended 30 June 2024 (FY24). Based on general positive trading into the second half, including a significant multi-year deal win, Nuix is likely to exceed its strategic target of growing statutory revenue by around 10% in constant currency for the full year, noting that June is a significant month for contract renewals. Nuix currently expects that Statutory EBITDA for the full year FY24 is likely to be in the range of $47 - $52 million (up greater than 35% on FY23). We note that any further change in statutory revenue will have a consequent direct impact on EBITDA given the high margin attributable to incremental statutory revenue, and particularly from multi-year deals given revenue recognition standards. Nuix currently expects that Underlying EBITDA, which excludes non-operational legal costs, is likely to be in the range of $63 - $68 million for FY24 (up greater than 36% on FY23).
NXL Price at posting:
$2.38 Sentiment: None Disclosure: Held
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