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Investors caught out as tech darlings plummet – The Australian Financial Review

Investors in one-time tech darlings Adore Beauty, Nuix and Appen got ahead of themselves and have been caught out by changes in post-pandemic buying patterns.

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Adore said revenue rose 47 per cent to $39.4 million in the March quarter compared to the prior year, with active customers rising 69 per cent year-on-year to 687,000. Tennealle OShannessy, who took over the CEO role from Morris just before the IPO, has forecast full-year growth at between 43 per cent and 47 per cent.
She provided no profit guidance, but said full-year EBITDA would reflect continued investment in marketing and people, essentially telling investors the group is prioritising top-line…

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