MotorK - Taking a more cautious approach
MotorK reported revenue growth of 20% y-o-y for the first nine months of FY22 (9M22) and closed Q322 with annualised recurring revenue (ARR) of €21.8m (+86% y-o-y). While demand for the SparK platform remains strong, the company has reduced guidance for FY22 to reflect delays in customer decision making and the slower transition of acquired customers onto the SparK platform. We have reduced our forecasts to the lower end of the new guidance range.
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