By Elena Vardon

 

Shares in Pelatro PLC fell 30% on Thursday after the company said its full-year Ebitda will be slightly below market expectations due to currency fluctuations as well as some contract delays that will be pushed into 2023.

The marketing software specialist said it expects revenue to be between $700,000 and $800,000 lower in 2022 due to the weakened Indian Rupee compared with the U.S. dollar.

This, as well as higher costs, will subsequently lead to earnings before interest, taxes, depreciation and amortization for 2022 slightly missing market forecasts.

Pelatro also said it is likely to close the year with just under $6 million in annual recurring revenue as some customers wish to transfer to a license model, for which revenue is recognized in the year of agreement.

Shares at 0856 GMT were down 6.0 pence at 13.75 pence.

 

Write to Elena Vardon at elena.vardon@wsj.com

 

(END) Dow Jones Newswires

December 01, 2022 04:27 ET (09:27 GMT)

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