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Investigation Details
Enfusion conducted its initial public offering (“IPO”) on or around October 21, 2021, selling 15.32 million shares of stock priced at $17.00 per share. Then, on August 6, 2024, Enfusion issued a press release reporting its financial results for the second quarter of 2024. Among other items, Enfusion reported non-GAAP earnings per share of $0.05, missing consensus estimates by $0.01, as well as revenue of $49.5 million, missing consensus estimates by approximately $475,000.
Following this news, Enfusion’s stock price dropped over 7% on August 6, 2024.
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