Asure Software Shares Drop 20% on 3Q Earnings Miss, Lower Guidance

Dow Jones11-01

By Stephen Nakrosis

Shares of Asure Software tumbled in after-hours trading following earnings results that fell short of some analysts' estimates.

The stock slid 20% to $7.91 post-market after ending the regular session up 2.8% at $9.92. The shares are up 4.2% this year.

Asure reported a third-quarter loss per share of 15 cents on revenue of $29.3 million. In the year-ago period, the company reported a loss per share of 10 cents on revenue of $29.3 million.

Analysts expected a loss of 3 cents on revenue of $31.3 million, according to FactSet.

The company cut its revenue guidance for this year to $119 million to $121 million from a previous range of $123 million to $129 million.

Asure also said it expects 2025 revenue of $134 million to $138 million.

The company also said it entered an agreement with Roth Capital Partners for the offer and sale of its common stock.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

October 31, 2024 19:19 ET (23:19 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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