Shares in Celebrus Technologies PLC (AIM:D4T4, OTC:DFORF) plummeted 19% after the data solutions provider provided a trading update with a fairly important mistake, which required a swift correction.
The AIM-listed firm clarified that revenue would be lower than expected for FY2025 rather than FY2026, as it had originally said.
Its financial year just finished at the end of March and Celebrus said that turnover had been hit by "some slowing down of customer decision making" in the second half, which was disappointing enough. It would have been much worse if it had also affected the new financial year as well.
Revenues are due to come in at around $38.6 million for the just-completed year, down 5.6% from the last financial year.
On the plus side, adjusted profit before tax will be up 14.5% year-on-year at $8.7 million, which the company attributed to further growth in higher-margin software sales as well as tight management of costs.
For the 2026 financial year, the company expects some revenue impact from a shift away from reselling non-Celebrus software for one large customer, but says this aligns with its strategy to focus on higher-quality, proprietary revenue streams.
The stock was off 40.8p at 169.2p.