Software company Nuix has now shredded close to $3 billion of its market valuation after downgrading its prospectus forecasts on Monday for the second time since listing in December, citing further trouble with new and existing customer contracts.
Nuix, which has apologised for its poor performance, announced a board revamp and severed ties with former chairman Tony Castagna, has lowered its revenue forecasts again and said it is relying on cost cutting to maintain its earnings guidance.
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