Evotec’s stock (NASDAQ: EVO) experienced a sharp decline following the release of its financial report for 2023 and a conservative outlook for 2024. The company posted revenue of 781.4 million euros for the previous year, falling short of analysts’ expectations of 782 million euros. Although this figure represents an 8% increase compared to 2022, it has led to concerns among investors. Moreover, Evotec’s forecast for double-digit revenue growth in 2024 has been deemed cautious by industry experts.