FTCI For 4Q23 Expects Revenues Of $18M-$28M Vs. Consensus Of $67.63M; Sees Adjusted Gross Margin Is Of (7)% To 7%; And Adjusted EBITDA Of $(13)M - $(2.5)M
Portfolio Pulse from Benzinga Newsdesk
FTCI expects 4Q23 revenues to be between $18M-$28M, significantly lower than the consensus of $67.63M. The company also anticipates an adjusted gross margin of -7% to 7% and an adjusted EBITDA of -$13M to -$2.5M. However, FTCI remains optimistic about its growth prospects and expects to become profitable in 2024.
November 08, 2023 | 1:41 pm
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FTCI's 4Q23 revenue forecast is significantly lower than the consensus, which may negatively impact its stock price in the short term. However, the company's optimism about becoming profitable in 2024 could mitigate some of this impact.
FTCI's lower-than-expected 4Q23 revenue forecast could lead to a decrease in its stock price as it indicates potential financial difficulties. However, the company's optimism about becoming profitable in 2024 could provide some reassurance to investors, potentially mitigating some of the negative impact.
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