NanoString Reports Preliminary Q3 Revenue of Over $48M, up by 63% YoY Vs Consensus $46.26M
Portfolio Pulse from Benzinga Newsdesk
NanoString Technologies, Inc. (NASDAQ:NSTG) reported preliminary Q3 revenue of over $48 million, a 63% YoY increase, beating the consensus estimate of $46.26 million. The company also announced a reorganization to accelerate its path to profitability, which includes eliminating approximately 110 positions and reducing expenses by over $15 million annually.
October 10, 2023 | 10:03 am
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NanoString's Q3 revenue exceeded expectations, which could boost investor confidence. However, the announced job cuts and reorganization may cause short-term uncertainty.
The company's higher-than-expected revenue is a positive signal, indicating strong performance. However, the announced reorganization and job cuts, while potentially beneficial in the long term, could lead to short-term uncertainty and volatility in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100