Singular Genomics Sys Q3 2023 EPS $(0.31) Beats $(0.38) Estimate, Sales $462.00K Miss $1.27M Estimate
Portfolio Pulse from vinayak@benzinga.com
Singular Genomics Systems, trading as OMIC on NASDAQ, reported Q3 2023 earnings with a loss per share of $(0.31), outperforming the $(0.38) estimate. However, their sales of $462K fell short of the expected $1.27M, missing estimates by 63.62% and indicating a potential concern for revenue growth.
November 14, 2023 | 9:28 pm
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Singular Genomics Systems reported a smaller-than-expected loss per share but significantly missed sales estimates for Q3 2023, which may concern investors about the company's revenue growth.
While beating EPS estimates typically has a positive impact on stock prices, the substantial miss on sales forecasts is likely to raise concerns about the company's ability to generate revenue, which could have a negative short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100