Smarttech247 Group PLC shares fell more than 18% on Thursday morning after the artificial intelligence-enabled cybersecurity provider signalled growth was behind expectations.
Revenue over the year to July had fallen short of market expectations for a roughly 20% increase, the group said in a statement.
Pre-tax earnings and operating profit would also likely miss full-year expectations as a result, Smarttech247 added but should remain positive.
“This outcome reflects the necessary investments made to expand our operations and position the business for future growth,” the statement said.
Annual recurring revenue ticked up 49% over the year, the company pointed out, with all of its managed detection and response clients being retained and new contracts with Amazon Web Services and Google signed.
Shares fell 18.7% to 10.77p.