Shares of datacenter provider NEXTDC (ASX:NXT) are experiencing a significant dip, falling as much as 6% to A$12.810 in the worst intraday drop since February 28.

The company’s shares have hit their lowest level since August 21, and are currently among the poorest performers in the ASX 200 benchmark index.

NEXTDC anticipates FY24 revenue will fall between A$400 mln and A$415 mln, which is lower than FY23’s A$362.4 mln revenue.

Financial firm Citi indicates that this forecast is about 3% below its estimate.

Additionally, NXT predicts FY24 EBITDA will range between A$190 mln to A$200 mln, which disappointingly misses Citi’s estimate by 4%.

However, it’s not all dim prospects, as NXT’s FY23 underlying EBITDA rose by an impressive 15% to reach A$193.7 mln, and revenue increased by 25% to A$362.4 mln.

Even with the disappointing reveal of their FY24 predictions, NXT’s shares are still up by 51.1% this year as of the last close, contrasting with the mere 1.1% increase in the ASX 200 benchmark.

NEXTDC (ASX:NXT) is a data center provider, offers scalable and secure IT solutions that cater to businesses' technology needs.