Celebrus Technologies (AIM:CLBS), the AIM-listed data solutions provider, said results for the year ending 31 March 2027 are now expected to come in below current market expectations.
The company guided to full-year revenue of between $20 million and $20.5 million, down from $23.6 million in FY26, with software revenue of between $19.0 million and $19.5 million against $20.3 million the prior year.
Celebrus expects an adjusted loss before tax of between $2.8 million and $3 million for FY27, reversing the $0.2 million adjusted profit booked in FY26.
The company said it had previously understood market consensus for FY27 to be revenue of $23.7 million and an adjusted loss before tax of $0.9 million.
Management attributed the downgrade to slower closing of new business and the loss of a customer that exercised a contractual break at the end of the first year of a three-year contract.
"We lost this customer due to imperfect execution on our part and have taken several learnings from this loss to avoid making the same mistakes in future projects," the company said.
For the half year to 30 September, total revenue is expected to be approximately $9.2 million, down from $10.4 million a year earlier, as lower third-party product revenues offset software revenue growth to approximately $8.9 million from $7.9 million.
The adjusted loss before tax for the period is expected to be approximately $1.3 million, little changed from a $1.4 million loss in the prior-year half.
Celebrus annual recurring revenue fell 2.0% during the period to $14.7 million, down from $15.0 million at the end of March and $15.6 million a year earlier, as $0.6 million of new logo wins and upsells was outweighed by $0.9 million of reductions tied largely to the lost customer.
The cash balance stood at $22.3 million at the half year end, down from $32.5 million at the end of March, after the company returned $3.2 million to shareholders through a $2.0 million share buyback and a $1.2 million final FY26 dividend, alongside a $4.2 million working capital outflow tied to the seasonal timing of annual invoice collections.
Chief executive Bill Bruno said the first-half results "reflect a continued lack of consistency", pointing to lead generation, deal closing and service delivery as the three areas needing improvement, and that the company's focus is "on executing to prove that to the market in the second half".
Celebrus will publish half-year results for the six months to 30 September on 8 December.