The shares have been on a roll since the company announced a major contract win in December but profit takers moved in after the group revealed underlying earnings (EBITDA) in the six months to the end of March 2018 are expected to dip to around £1.4mln from £1.5mln the year before.
The software house said the difference is mainly accounted for by adverse currency movements; on a constant currency basis, the company estimates that EBITDA was around 13% higher than the year before.
Revenue rose 12% year-on-year to around £8.4mln, in line with management expectations.
The mix of software revenue, services revenue and third party income returned to a more normalised weighting compared to the same period last year, which benefited from an exceptionally high level of software licence sales to existing customers, the group advised.
The shares were down 4.8% at 148.5p, giving up virtually all of the gains achieved in the year-to-date.