Hour Loop FY23 EPS $(0.07) Vs $(0.04) YoY; Revenues $132.12M Vs $95.93M YoY
Portfolio Pulse from Benzinga Newsdesk
Hour Loop reported a FY23 EPS of $(0.07), down from $(0.04) YoY, with revenues rising to $132.12M from $95.93M. Despite increased competition leading to a gross margin decrease to 50.3%, operating expenses improved. The net loss widened to $2.4M from $1.5M YoY. Cash reserves fell to $2.5M, and inventories decreased to $14.3M. For FY24, revenue is projected between $145M-$172M, with net income expected to be $0.5M-$2M.

March 26, 2024 | 8:24 pm
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NEUTRAL IMPACT
Hour Loop's FY23 report shows revenue growth but a wider net loss and decreased cash reserves. FY24 outlook is optimistic with expected revenue growth and net income.
The mixed FY23 results with increased revenue but wider losses may lead to neutral investor sentiment in the short term. However, the optimistic FY24 outlook could balance views, making the short-term impact neutral.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100