Dianomi PLC (AIM:DNM) shares tanked 40% on Monday morning as the digital advertising services firm lowered revenue guidance on the back of falling traffic levels.
Anticipating an 18% drop in first-half revenue, Dianomi laid out expectations that revenue would miss previous guidance for the year to December 2023, now coming in as low as £30.5mln.
This would mark a 15% drop over the full year, reflecting reduced traffic among Dianomi’s 400-plus advertising partners, as readership levels potentially find a new normal post-Covid.
“The fall in traffic levels will impact our business and the wider industry this year,” the AIM-listed firm’s boss, Rupert Hodson, said. “As a business, we are looking beyond the near term and focusing on our future ability.”
Dianomi shares fell 40% to 47.14p on the news.