Renalytix Q1 EPS $(0.11) Up From $(0.16) YoY, Sales $459.00K Down From $969.00K YoY
Portfolio Pulse from Benzinga Newsdesk
Renalytix (NASDAQ:RNLX) reported a narrower Q1 loss of $(0.11) per share compared to $(0.16) per share in the same quarter last year. However, sales declined to $459.00K from $969.00K year-over-year. The company's cash and cash equivalents stood at $13.9 million as of September 30, 2023.
November 14, 2023 | 12:05 pm
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NEUTRAL IMPACT
Renalytix reported improved Q1 EPS at $(0.11) from $(0.16) YoY, but a significant sales decrease to $459K from $969K YoY. Cash position is $13.9M.
The improvement in EPS may be viewed positively by investors as it indicates a reduction in losses. However, the significant drop in sales could raise concerns about the company's revenue generation capabilities. The cash position provides some stability, but the mixed financial results could lead to a neutral short-term impact on the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100