A startup battery maker that wooed investors with rapid growth forecasts said it would miss its revenue target by as much as 89%. A scooter rental app is expected to bring in less than 20% of what it projected this year. An electric bus company that planned to boost revenue faster than any U.S. startup ever told investors to disregard its projections.
Dozens of startups that went public in a pandemic-fueled stock market frenzy are missing the projections they used to win over investors, many by substantial margins and just a few months after making those forecasts.