Akoya Biosciences Announces Preliminary Financial Results For Q4 And FY23 And Provides 2024 Outlook; Sees Q4 Revenue $25.5M-$26.5M Vs $26.28M Est.; FY23 Revenue $95.6M-$96.6M Vs $96.6M Est.; Expects FY24 Revenue To Grow 20%+
Portfolio Pulse from Benzinga Newsdesk
Akoya Biosciences, Inc. (NASDAQ:AKYA) released preliminary financial results for Q4 and FY23, with Q4 revenue expected between $25.5M-$26.5M, slightly below the $26.28M estimate. FY23 revenue is anticipated to be $95.6M-$96.6M, in line with the $96.6M estimate. The company also expects a 20%+ revenue growth in FY24 and aims to achieve operating cash flow breakeven by year end 2024. Akoya ended FY23 with a projected cash balance between $83.0M-$85.0M. These results are unaudited and subject to change.
January 07, 2024 | 8:18 pm
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NEUTRAL IMPACT
Akoya Biosciences announced preliminary Q4 revenue that is slightly below estimates and FY23 revenue that meets expectations. The company also projects significant revenue growth and cash flow breakeven in FY24.
The Q4 revenue being slightly below estimates might be seen as a minor negative by investors, but the overall in-line FY23 revenue and positive outlook for FY24 with expected revenue growth and cash flow breakeven could balance sentiment. The information is preliminary and unaudited, which adds a degree of uncertainty.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100