Movano Q3 EPS $(0.18) Up From $(0.26) YoY, No Revenue Generated As Movano Is A Development Stage Company, Cash And Equivalents As Of September 30, 2023 Totals $7.7M
Portfolio Pulse from Benzinga Newsdesk
Movano Inc. (NASDAQ: MOVE) reported a reduced quarterly loss of $(0.18) per share compared to $(0.26) per share in the same quarter last year. As a development stage company, Movano did not generate any revenue. The company's cash and equivalents as of September 30, 2023, totaled $7.7 million.
November 15, 2023 | 11:07 am
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Movano Inc. reported a smaller loss in Q3 compared to the previous year, indicating some cost control or efficiency gains. However, the company is still in the development stage and did not generate revenue, with a cash reserve of $7.7 million.
The reduced loss per share suggests some improvement in Movano's financials, which could be viewed positively by investors. However, the lack of revenue and the fact that the company is still in the development stage may temper any potential stock price movement. The cash reserves provide some runway, but without revenue, there is a risk of future dilution if additional capital is needed.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100