11th Jun 2025 13:07
(Alliance News) - Windar Photonics PLC on Wednesday lowered its full-year 2024 guidance after determining that a EUR1.25 million order shipped in December will instead be recognised in 2025.
The Copenhagen-headquartered technology company, focused on the development of its flagship WindEYE LiDAR wind sensor, said that while the delivery was completed in 2024 and payment received in January 2025, it did not meet International accounting standards criteria to be recognised in the 2024 financial year, which runs for the 12 months to December 31, 2024.
As a result, Windar now expects 2024 revenue of EUR4.6 million, down from previous guidance of EUR5.7 million. Adjusted earnings before interest, tax, depreciation and amortisation are now forecast to show a loss of EUR400,000, compared with a previously guided profit of EUR400,000.
The company expects to publish its audited 2024 results in the second half of June.
Windar shares were down 2.8% at 50.80 pence in London on Wednesday afternoon.
By Eva Castanedo, Alliance News reporter
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