2259 GMT - Infomedia's guidance downgrade catches RBC Capital Markets off guard. Infomedia says it now expects revenue of A$142 million-A$149 million in FY 2025, below earlier guidance of A$145 million-A$154 million. Analyst Garry Sherriff says the downgrade appears to be driven by the loss of SimplePart as a customer. Infomedia estimates this churn will have a A$4 million impact on annual recurring revenue. "However, (we) are surprised given that the possibility of a customer loss was flagged during the FY 2024 earnings call and press release," RBC says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 10, 2024 17:59 ET (22:59 GMT)
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