VerifyMe shares are trading lower after the company updated its FY24 revenue growth rate to be mid-single digit instead of double digit growth and expects its FY24 gross margin percentage to be reduced.
Portfolio Pulse from Benzinga Newsdesk
VerifyMe shares are trading lower after the company updated its FY24 revenue growth rate to mid-single digits instead of double digits and expects its FY24 gross margin percentage to be reduced.
May 23, 2024 | 4:33 pm
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VerifyMe shares are trading lower after the company updated its FY24 revenue growth rate to mid-single digits instead of double digits and expects its FY24 gross margin percentage to be reduced.
The revision of revenue growth from double digits to mid-single digits and the expectation of reduced gross margins are negative indicators for the company's financial health, leading to a drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100