Here’s why the Nuix (ASX:NXL) share price is tanking 27%

Nuix Ltd (ASX: NXL) shares are getting smashed today after the company reported its first results since its initial public offering (IPO). At the time of writing, the Nuix share price has plummeted an eye-watering 27.31% to $6.52.

Let’s take a look at how the analytics software company has been performing.

What’s pushing the Nuix share price lower?

Investors are driving the Nuix share price lower today after the company released its inaugural results since listing on the ASX late last year.  

For the six months ending 31 December, Nuix announced a 4% decline in revenue to $85.3 million. Overall, the software solutions company reported a statutory net loss of $16.6 million. However, on a proforma basis Nuix reported a net…