(Reuters) -French generative AI startup LightOn on Monday reported first results since its November IPO, with 2024 revenue missing its own target due to delayed signing of some contracts.
The LightOn shares fell 7.4% to 17.39 euros by 0811 GMT, slashing the strong gains they have seen since the start of the year to around 34%.u200b
The company said its annual recurring revenue (ARR) was 1.2 million euros ($1.23 million) in 2024 and confirmed it expected the metric to grow to 6 million euros this year.
But the 2024 number was below LightOn's guidance, as it had expected to double the end-July ARR of 0.