ENGAGE XR Holdings PLC, the spatial computing specialist, saw its shares fall 32% after saying contracts expected to be signed by the end of this financial year will now drop into 2024.
In an update, it said revenues for the 12 months ended 31 December 2023 will be €3.6-€3.8 million, while it expects to post an underlying loss of €4.6 million.
In a bid to reassure investors, ENGAGE said it has €7.3 million of cash – enough to see it through to break even.
Still, this wasn’t enough to prevent a sharp markdown of the stock, which was off 0.89p at 1.81p in early trade.