Coda Octopus Group Expects FY23 Revenue in line with FY22 of $22.2M (Prior $26M) Vs $23.77M Est
Portfolio Pulse from Benzinga Newsdesk
Coda Octopus Group has revised its FY23 revenue expectations to be in line with FY22's $22.2M, down from the previous target of $26M. This is due to the slow pace of conversion of opportunities into firm orders during Q3 2023.
September 13, 2023 | 10:05 am
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Coda Octopus Group's FY23 revenue is expected to be in line with FY22's $22.2M, lower than the previous target of $26M. This is due to slower than expected conversion of opportunities into firm orders.
The company's lowered revenue forecast for FY23 indicates a slower than expected growth, which could negatively impact investor sentiment and potentially lead to a decrease in the stock price in the short term.
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