Nuix stock mauled as results disappoint

SHARES in tech firm Nuix have been mauled after the company swung to a net loss.

Shares, issued for $5.31 in its December float, slumped 10.8 per cent to $2.56 on Monday after Nuix reported a $1.64m loss, down 107 per cent on the $23.58m profit last year.

On a pro forma basis, the group posted a net profit of $25m. But several issues remain unresolved for Nuix, including an investigation by the Australian Securities and Investments Commissions into allegations of insider trading by its ex-CFO Stephen Doyle.

The broader Australian sharemarket rose slightly on Monday after offshore equities and commodities jumped folloowing Fed chair Jerome Powell’s speech in the US on Friday suggesteing that the Fed isn’t in a rush to lessen its policy stimulus.

The ASX 200 index closed up 0.2 per cent at 7504.5 points.

Software developer Altium edged Nuix out for the position of worse performer. Altium’s shares slumped 14.2 per cent to $29.85.

Health group Healius was in third spot, its shares sliding 7.3 per cent to $4.67.