Shares in Cordel Group PLC (AIM:CRDL) dropped 21% in early trading on Monday after the transport analytics firm warned that full-year revenue will fall short of expectations.
The AIM-listed company, which uses artificial intelligence to analyse transport corridors, now expects to report revenue between £4.7 million and £5 million for the year ending 30 June.
That represents growth of up to 12% from last year but is below previous forecasts.
Chief executive John Davis said economic uncertainty, particularly in the United States, had caused delays in closing deals, with most new contract revenue now pushed into the next financial year.
While sales momentum has improved, the slower second half prompted Cordel to issue an early update.
Despite the miss, the company said it had added five new customers and expanded two existing contracts during the year. It also highlighted strong progress on its Positive Train Control product, which is due to launch next month.
The stock fell 1.69p to 6.44p.