London-Based PCI-PAL Shares Drop Amid Delayed Fiscal 2023 Results and Ongoing Patent Case

Shares of PCI-PAL, a payment services provider based in London, fell by 14% on Tuesday following a delay in the announcement of its fiscal 2023 results. This postponement is attributed to an ongoing patent infringement lawsuit in the U.K. High Court.

Data indicates that the company’s adjusted market capitalization is approximately $185.97 million. Over the past week, its stock has gained 3.69%, though it has seen declines of 3.73% and 4.42% over the past month and three months, respectively.

Despite this setback, PCI-PAL has announced 57 new contracts and is projecting strong revenue growth of between 28% and 30% for fiscal 2024. This marks the company’s first full year of anticipated adjusted pretax profit. Analysts expect sales growth for the current year and a rise in net income.

Following a recent legal victory over Sycurio Ltd., PCI-PAL is preparing for an appeal, aiming to recoup maximum costs. The company’s revenue forecast for fiscal 2023 is around £14.9 million (approximately $18 million), with results expected to be disclosed in late October or early November.

The outcome of the patent infringement case is highly anticipated, as it could influence the company’s financial results and future guidance. Despite these challenges, PCI-PAL expresses optimism regarding its growth trajectory and profitability in the upcoming year. Analysts anticipate that the company will turn a profit this year, further enhancing its positive outlook.

This article was produced with the aid of AI and reviewed by an editor.