Nuix lifts FY earnings guidance on lower legal costs
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The news: Software company Nuix has updated its full-year earnings guidance following the "receipt of funds relating to an insurance claim made for non-operational legal costs associated with litigation".
The numbers: Nuix now expects statutory EBITDA for the 2024 financial year to be between $55 million to $60 million, compared to the previously guided range of $47 million to $52 million.
The Sydney-based company said that it expects underlying EBITDA, excluding non-operational legal costs, to remain unchanged in the range of $63 million to $68 million.
The context: In April, the corporate regulator dropped allegations against Nuix's CEO Jonathan Rubinsztein after concluding there was not enough evidence to charge him with insider trading.
Nuix is awaiting the outcome of separate proceedings brought by the Australian Securities and Investments Commission in the Federal Court, alleging it misled the market by not disclosing financial underperformance after the company's initial public offering in December 2020.
The source: ASX announcement
