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Investigation Details
On February 27, 2024, Integral guided its top-line growth would be cut in half for the first quarter 2024. This guidance was substantially below that anticipated by financial analysts, with one analyst expressing being “blindsided” by the announcement. The reduction was due to heavy pricing concessions IAS gave to nearly a dozen major customers during a recent round of contract negotiations, which eroded the Company’s revenues. The Company cited enhanced competition as the reason for the pricing incentives.
Following this news about the pricing incentives, IAS shares tumbled $7.09/share, closing at $10.01 on February 28, 2024.