Shares in MyCelx Technologies (AIM:MYXR) dropped 8% on Monday after the company cut its full-year revenue forecast, citing uncertainty caused by newly imposed US tariffs on imported steel.
The clean water and air technology firm now expects 2025 revenue to land between $12.5 million and $15.5 million, a wider range than previously guided, reflecting both the scale of individual projects and potential delays triggered by increased costs.
MYCELX sources some of its steel equipment from US suppliers who import raw materials. With tariffs driving up fabrication costs, MYCELX said it must now reprice outstanding project quotes to reflect higher equipment prices, risking delays in customer sign-off and project delivery.
Despite the headwinds, the company reported positive operational progress, including a successful water treatment trial in the United States that recovered over 99% of oil from produced water.
MYCELX also confirmed it will receive a $1.25 million earn-out from the 2024 sale of its Saudi business, and plans two new PFAS treatment trials in the coming weeks. However, investors appeared more focused on the tariff-related risks that could weigh on future growth.
The stock was changing hands for 23.98p, down 2.02p.