6th Oct 2026 13:56
(Alliance News) - Celebrus Technologies PLC on Tuesday saw its shares plummet after a trading update in which the company admitted to "imperfect execution" which resulted in the loss of a customer, and an overall "lack of consistency" in performance.
Shares in the Sunbury-on-Thames, England-based data management platform fell 39% to 58.00 pence each on Tuesday afternoon in London. The stock has fallen 66% over the past year.
Celebrus sees annual results for the current financial year 2027 ending March 31 "below current market expectations", which it cited as revenue of USD23.7 million and adjusted pretax loss of USD900,000.
Instead, Celebrus expects revenue to range from USD20.0 million to USD20.5 million, down from USD23.6 million a year earlier. Software revenue is anticipated to be between USD19.0 million and USD19.5 million, down from USD20.3 million. Adjusted pretax loss is eyed between USD2.8 million and USD3.0 million, swinging from a profit of USD200,000 the previous year.
The company attributed the downgrade to "slower closing of new business wins" combined with the loss of a customer which exercised a contractual break after the first year of a three-year contract.
"While there are always multiple issues that arise during enterprise deployments, 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," Celebrus said on Tuesday.
For the six months ended September 30, the company expects revenue to fall to USD9.2 million from USD10.4 million on-year, though software sales are expected to rise to USD8.9 million from USD7.9 million. Overall, the lower sales figure reflects "lower third-party product revenues", Celebrus explained.
Annual recurring revenue dropped 2.0% in the first half to USD14.7 million from USD15.0 million, reflecting a 4% boost from USD200,000 of new logo wins and USD400,000 of upsells, offset by a USD900,000 reduction on account of the lost customer.
Adjusted pretax loss for the first half is expected to be USD1.3 million, narrowed slightly from USD1.4 million on-year.
Celebrus estimated its cash balance as of September 30 as USD22.3 million, reduced from USD32.5 million at the end of March, and from USD27.3 million at the end of September 2025. This reflected the impact of buybacks and dividends paid during the period, the company explained, as well as seasonal invoice timing and capital outflows.
"We have seen improvement from the changes that we made within Marketing, Sales, and Customer Success at the start of this year. We have also successfully filled the open positions in Sales. While our average deal cycle still sits at around eight months, the processes are tighter, qualification standards are stricter, and the teams are functioning well together as we work on building consistency and predictability," Celebrus said.
"We also continue to refine our Ideal Customer Profile as well as our target stakeholders. However, while the number of pipeline opportunities continues to grow, our rate of closing new business has been slower than we had hoped. We have also added a new VP-Global Services to help us better standardize our approach to implementations across complex, enterprise organization."
Chief Executive Bill Bruno added: "Our first half results reflect a continued lack of consistency, which will come from continued improvement in three areas: our ability to target and generate leads in line with our Ideal Customer Profile, our improvement in closing deals once they have been identified, and our ability to deliver high-value services upon closing those deals. I believe we have the right team to deliver on this for stakeholders, and our focus is on executing to prove that to the market in the second half. "
By Holly Munks, Alliance News reporter
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