Cyan -22.6%, preliminary Q4 revenue of $20M-$21M short of guidance by a third

|By:, SA News Editor

Cyan (CYNI) shares crater 22.6% AH following the company's preliminary revenue announcement of $20M-$21M, miles below the previous $30M-$33M guidance and analyst expectations of $31.3M.

The company attributed the decline to an 88% Q/Q decrease in revenue from its largest customer to $2M.

a silver lining: revenue on the year expanded 32%-34% Y/Y to $70M-$71M excluding the largest customer as Cyan diversifies its base.