Recap: CollPlant Biotechnologies Q3 Earnings
Portfolio Pulse from Benzinga Insights
CollPlant Biotechnologies (NASDAQ:CLGN) reported Q3 earnings with an EPS of $-0.35, missing estimates by 169.23% compared to the expected $-0.13. Revenue decreased by $66 thousand from the same period last year. In the previous quarter, the company beat EPS estimates by $0.51, which led to a 5.23% share price increase the following day.
November 29, 2023 | 12:10 pm
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NEGATIVE IMPACT
CollPlant Biotechnologies reported a significant earnings miss for Q3, with an EPS of $-0.35 against an estimate of $-0.13, and a year-over-year revenue decline.
The substantial miss in earnings expectations and the decline in revenue year-over-year are likely to negatively impact investor sentiment in the short term. Historically, earnings misses have been associated with stock price declines. The previous quarter's positive earnings surprise and subsequent stock price increase suggest that the market is responsive to CollPlant's earnings reports.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100