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00:03Scalar's stock fell more than 30% on Wednesday for its worst single-day decline ever after the
00:08cybersecurity company issued weak guidance that overshadowed a strong fiscal third-quarter
00:14report, according to CNBC. The cybersecurity company posted adjusted earnings of $1.08 per
00:20share on $850 million in revenue, beating analyst estimates of $1.01 per share on $835 million.
00:30Scalar guided for $875 million to $878 million in revenue next quarter, just below the $878.6
00:38million expected by FactSet. The company projected annual recurring revenue growth of 16% to 17%
00:46for fiscal 2027, falling short of street account estimates. The company also disclosed the loss
00:53of two sales leaders and said,
00:54Rising memory costs will push capital expenditures up 200 basis points as a percentage of revenue
01:00in fiscal 2027.
01:03Evercore ISI downgraded the stock and cut its price target following the report.
01:08For all things money, visit Benzinga.com.
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