ChromaDex Now Expects FY24 Revenue Growth Of 10% - 15% Y/Y
Portfolio Pulse from Benzinga Newsdesk
ChromaDex has revised its FY24 revenue growth expectations to 10%-15% year-over-year, down from a previous projection of higher than 16%. The company also expects slight improvements in gross margin and a reduction in general and administrative expenses by $1.5 million.
August 07, 2024 | 9:41 pm
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ChromaDex has revised its FY24 revenue growth expectations to 10%-15% year-over-year, down from a previous projection of higher than 16%. The company also expects slight improvements in gross margin and a reduction in general and administrative expenses by $1.5 million.
The downward revision in revenue growth expectations from over 16% to 10%-15% is likely to be viewed negatively by investors, potentially leading to a short-term decline in the stock price. However, slight improvements in gross margin and a reduction in general and administrative expenses may provide some offsetting positive sentiment.
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