Hefty legal bills have forced Nuix to book a first-half loss, though the troubled tech company has started pouring money into research and development to jump-start some of the growth promised during its controversial IPO in 2020.
Nuix’s loss narrowed to $2.3 million for the six months ended December 31 from the $16.6 million shortfall in the year-earlier period, coming in at the higher end of guidance issued in a January trading update.
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
