The Aim-listed company said it ex-pected revenue for the financial year to be between £95m and £97m, equating to revenue growth of between 31 and 33 per cent, down from its previous estimate of 40 per cent revenue growth.
The company also stated that revenue growth would have been on target if a small number of larger contracts for its subscription service had been completed by 30 June, as it had previously expected.
It expects revenue growth in 2015 to be at least 25 per cent, and to reach profitability in 2016, with a target of 200m registered users by 2018.
It has operations in the
Its shares fell 8.6 per cent yesterday to finish on 45p.
ANALYST VIEWS Interviews by Thomas FitzGerald WHAT IS YOUR REACTION TO MONITISE'S LAST REVENUE GROWTH DOWNGRADE? BRENDAN D''SOUZA WH
ALI FARID KHWAJA BERENBERG The cut to guidance is somewhat disappointing, particularly since the company also closed two acquisitions during the period. While over the past five years
PETER ROE TECHMARKETVIEW Monitise will have to work hard to maintain momentum to re-assure investors that the longer term targets remain realistic, but they have the key advantage of a central position in a broad ecosystem, a transaction base which doubled in the last year, and continued growth in user numbers.
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