Why Akoustis Technologies Shares Are Falling Today
Portfolio Pulse from Anusuya Lahiri
Akoustis Technologies, Inc (NASDAQ:AKTS) reported Q4 FY23 revenue growth of 60.2% YoY to $8.33 million, missing the consensus of $8.44 million. The company also reported a gross loss of $1.7 million and a non-GAAP EPS loss of $0.21, both worse than expected. Despite this, the company remains optimistic about significant growth over the next two years. AKTS shares traded lower by 13.3% premarket.
September 06, 2023 | 1:24 pm
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Akoustis Technologies reported lower than expected Q4 FY23 revenue and earnings, causing its shares to fall 13.3% premarket.
Akoustis Technologies reported lower than expected revenue and earnings for Q4 FY23. This negative financial performance is likely to have a negative impact on the company's stock price in the short term, as reflected in the 13.3% premarket drop in shares.
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