I-Nexus Global (INX)

Sector:

IT Services

Index:

FTSE AIM All-Share

 2.75p
   
  • Change Today:
      0.000p
  • 52 Week High: 4.90p
  • 52 Week Low: 2.25p
  • Currency: UK Pounds
  • Shares Issued: 29.57m
  • Volume: 0
  • Market Cap: £0.81m
  • RiskGrade: 605

i-nexus parts ways with 'major legacy customer'

By Iain Gilbert

Date: Tuesday 17 Oct 2023

LONDON (ShareCast) - (Sharecast News) - Software company i-nexus said on Tuesday that a "major legacy customer" will not renew its contract with the group at the end of the calendar year.
i-nexus said the loss of the contract, which generates £54,000 per month, forced it to "rapidly put in place mitigating actions" such that the impact on its cash flows can be minimised and its adjusted underlying earnings breakeven position can be "substantially preserved".

The AIM-listed group said it believes it has "sufficient working capital" for its present requirements and, otherwise, reported a "steady performance" for the year ended 30 September, successfully achieving its objective to deliver improved double-digit net monthly recurring revenue growth, up 16% to a year-end exit rate of £289,000.

Chief executive Simon Crowther said: "While it is always unfortunate to part ways with a valued customer, especially one with whom we have enjoyed a strong working relationship, this was our last remaining client using the older, highly customised version of the i-nexus software, and supporting their unique requirements was resource and cost-intensive.

"While the loss of any customer is a financial setback, market demand for digital strategy solutions and growth opportunities within our customer base remains encouraging and the board are optimistic about the opportunities and growth potential of the coming year."

As of 1200 BST, I-Nexus shares had sunk 20% to 3.60p.





Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

I-Nexus Global Market Data

Currency UK Pounds
Share Price 2.75p
Change Today 0.000p
% Change 0.00 %
52 Week High 4.90p
52 Week Low 2.25p
Volume 0
Shares Issued 29.57m
Market Cap £0.81m
RiskGrade 605

I-Nexus Global Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
18.36% below the market average18.36% below the market average18.36% below the market average18.36% below the market average18.36% below the market average
18.52% below the sector average18.52% below the sector average18.52% below the sector average18.52% below the sector average18.52% below the sector average
Price Trend
54.14% below the market average54.14% below the market average54.14% below the market average54.14% below the market average54.14% below the market average
56.04% below the sector average56.04% below the sector average56.04% below the sector average56.04% below the sector average56.04% below the sector average
Income Not Available
Growth
31.67% below the market average31.67% below the market average31.67% below the market average31.67% below the market average31.67% below the market average
31.76% below the sector average31.76% below the sector average31.76% below the sector average31.76% below the sector average31.76% below the sector average

I-Nexus Global Dividends

No dividends found

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

I-Nexus Global Key Personnel

CEO Simon Peter Crowther
CFO Drew Whibley

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