Crown Electrokinetics Issues Letter to Shareholders; Says Once Capital Needs Are Met, Believe Revised Revenue Guidance For Calendar Year 2023 Will Be $40M With EBITDA Of $15M
Portfolio Pulse from Happy Mohamed
Crown Electrokinetics Corp. (NASDAQ:CRKN) has announced a revised revenue guidance for 2023 of $40 million with EBITDA of $15 million, once the capital needs of the fiber optics business are met. The company has recently reduced its debt and is focusing on growth opportunities in its fiber optics division. It also highlighted progress in its Smart Window Inserts production, with delivery expected in late summer.
July 13, 2023 | 1:18 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Crown Electrokinetics has revised its 2023 revenue guidance to $40 million with EBITDA of $15 million. The company has reduced its debt and is focusing on growth in its fiber optics division. It also expects to deliver Smart Window Inserts in late summer.
The company's revised revenue guidance and focus on growth in its fiber optics division, along with the expected delivery of Smart Window Inserts, indicate positive future prospects. This could potentially lead to an increase in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100