Legal bills and constrained budgets for software customers have tipped Nuix to a first-half loss of $4.8 million.
Nuix’s large customers – like the big four banks, audit firms and government agencies – are cutting costs and prioritising annual contracts rather than multi-year deals in response to softer economic activity. The shares fell 11.5 per cent to $1.72.
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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
