Tempest FY23 EPS $(1.91) Vs $(3.09) YoY; Ended The Year With $39.2M In Cash And Cash Equivalents
Portfolio Pulse from Happy Mohamed
Tempest (TPST) reported a FY23 EPS of $(1.91), an improvement from $(3.09) YoY. The company ended the year with $39.2M in cash, up from $31.2M, primarily due to $35.6M from stock issuance. Net loss narrowed to $29.5M from $35.7M. R&D expenses decreased to $17.5M, and G&A expenses dropped slightly to $11.7M. Tempest expects to fund operations into Q2 2025.
March 19, 2024 | 8:40 pm
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Tempest reported improved FY23 financials with a narrower net loss and increased cash reserves, expecting to fund operations into Q2 2025.
The improvement in EPS and the increase in cash reserves indicate a positive financial trajectory for Tempest. The reduction in net loss and operational expenses, along with the expectation to fund operations into Q2 2025, suggest a stable financial outlook, likely leading to a positive short-term impact on TPST's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100