Shares of Informatica Inc. INFA, -28.67% plummeted 29.3% toward new lows in volatile morning trading Thursday, after the recently-public data management software company reported fourth-quarter profit that missed expectations. The stock, which was halted once for volatility after the open, was now trading 31.3% below its $29 IPO price, which was set as the company went public on Oct. 27, 2021. The company reported late Wednesday a net loss that widened to $66.3 million, or 25 cents a share, from $32.8 million, or 13 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share fell to 20 cents from 21 cents, missing the FactSet consensus 21 cents. Revenue rose 8.0% to $406.7 million, above the FactSet consensus of $396.2 million, with cloud annualized recurring revenue (ARR) rising 39.9% to $316.99 million. Deutsche Bank analyst Patrick Colville said the quarterly results were strong, “although not in the areas investors may have liked, with cloud ARR ‘only’ in-line with guidance.” The stock has tumbled 39.6% over the past three months, while the Renaissance IPO ETF IPO, -4.98% has dropped 30.5% and the S&P 500 SPX, -1.98% has slid 5.9%.
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