EML shares plunged following weak Q3 trading update and FY2022 guidance revision

EML Payments Limited (ASX: EML) has released its Q3 FY2022 quarter trading update and FY2022 guidance revision-

• The company's underlying EBITDA has decreased by 14% to AU$13.6 million in Q3 FY2022, compared to AU$15.8 million in Q3 FY2021.
• EML Payments reduced its underlying EBITDA guidance for FY2022 by around 8% to AU$52 million- AU$55 million, down from AU$58 million – AU$65 million.
• EML also reduced its revenue guidance for FY2022 to AU$225 million - AU$235 million, down from AU$230 million – AU$250 million, and underlying NPATA guidance to AU$27 million – AU$30 million from AU$27 million – AU$34 million.
• The company signed two new contracts in Q3 with Up Spain and Praxis Tech.

At AEST 12:05 PM, EML shares are trading at AU$1.775, down 34.501% from its previous close. 

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