CVRx Sees Q4 Revenue $11.2M-$11.3M vs $10.84M Est., FY23 Revenue $39.2M-$39.3M vs $38.84M Est.; Sees Q1 Total Revenue $11M-$12M vs $11.61M Est. FY24 Total Revenue $53M-$57M vs $54.85M Est.,
Portfolio Pulse from Benzinga Newsdesk
CVRx reported Q4 revenue of $11.2M-$11.3M, surpassing the $10.84M estimate. FY23 revenue is projected to be $39.2M-$39.3M, slightly above the $38.84M estimate. Q1 revenue is expected to be $11M-$12M, which may not meet the $11.61M estimate. FY24 revenue is forecasted to be $53M-$57M, compared to the $54.85M estimate.
January 08, 2024 | 1:41 pm
News sentiment analysis
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POSITIVE IMPACT
CVRx exceeded Q4 revenue expectations and provided a positive outlook for FY23, with a slight caution for Q1 revenue potentially being lower than expected. FY24 revenue projections are within analyst estimates.
CVRx's reported revenue for Q4 and the forecast for FY23 are both above analyst estimates, which is likely to be viewed positively by investors and could lead to a short-term increase in stock price. However, the Q1 revenue guidance being potentially lower than expected introduces some caution, but this is mitigated by the FY24 revenue forecast, which aligns with analyst expectations. Overall, the positive outweighs the negative, suggesting a likely uptick in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100