Streetbeat News

Earnings

BEEP

Mobile Infrastructure reported a significant Q3 2023 net loss of $23.1 million, or $1.77 per diluted share, compared to a net loss of $2.9 million, or $0.22 per diluted share, in the same period last year. Sales decreased to $8.06 million from $8.35 million. The loss was largely due to non-recurring charges related to a merger and repositioning, including a $16.1 million non-cash charge for Series 2 Preferred Stock and $8.7 million impairment charges for three parking facilities. Adjusted EBITDA increased by 2.3% to $4.4 million. The company's total debt decreased to $193.5 million from $219.7 million at the end of 2022, with a weighted-average interest rate of 6.8%.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:54 am

CBWTF

Auxly Cannabis Group Inc. (OTCQB:CBWTF) reported a 42% increase in net revenues for Q3 2023, amounting to CA$28.2 million. The company swung to a net profit of CA$32.6 million from a net loss of CA$60.1 million in the same period last year. Adjusted EBITDA was positive at CA$117,000, and selling, general, and administrative expenses decreased by CA$1.5 million. CEO Hugo Alves attributed the improved results to operational focus, cost reduction, and improved profitability measures.

Portfolio Pulse from Jelena Martinovic

November 14, 2023 | 12:11 am

SBIG

SpringBig Holdings, Inc. (OTCQX:SBIG) reported its Q3 2023 financial results, showing a 13% YoY increase in subscription revenue but a 5% decline in overall revenue. The company reduced its Adjusted EBITDA loss to $0.9 million from $3.4 million the previous year and cut its net loss to $2.7 million from $3.1 million. Gross profit margin remained strong at 77%. Operational highlights include adding 89 new clients and launching a new subscription-based VIP loyalty program. CFO Paul Sykes aims for positive Adjusted EBITDA in Q4 and notes a 40% reduction in operating expenses. SBIG's stock fell 8.47% to $0.175 per share.

Portfolio Pulse from Joana Scopel

November 13, 2023 | 11:24 pm

GLASF

Glass House Brands Inc. reported strong financial results for Q3 2023, with a 71% year-over-year increase in net sales to $48.2 million and a gross profit of $26 million. The company achieved a record low production cost of $118 per pound and attended various conferences. It also appointed new board members and settled an agreement with Element 7, APB, and GH Group. The stock (OTCQX:GLASF) was up 3.79% at $4.65 per share.

Portfolio Pulse from Joana Scopel

November 13, 2023 | 11:17 pm

AIRT

Air T (NASDAQ:AIRT) reported a larger Q2 loss of $(0.57) per share compared to $(0.43) per share in the same quarter last year, despite a 30.15% increase in sales to $79.00M from $60.70M.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 11:05 pm

FFIE

Faraday Future (NASDAQ:FFIE) reported a Q3 2023 EPS of $(3.78), missing the $(3.00) estimate by 26%, and sales of $551.00K, missing the $1.50M estimate by 63.27%. Despite the miss, the loss per share improved by 84.25% compared to the $(24.00) per share loss in the same period last year.

Portfolio Pulse from vinayak@benzinga.com

November 13, 2023 | 11:05 pm

LUCD

Lucid Diagnostics (NASDAQ:LUCD) reported Q3 adjusted EPS of $(0.22), surpassing the $(0.27) estimate, and sales of $783K, slightly beating the $780K estimate. This reflects a significant improvement from the same period last year, with a 21.43% decrease in losses and a 930.26% increase in sales.

Portfolio Pulse from mahesh@benzinga.com

November 13, 2023 | 10:54 pm

CKPT

Checkpoint Therapeutics reported a Q3 EPS of $(0.29), which is an improvement from the $(1.20) reported in the same quarter of the previous year.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:50 pm

TIL

Instil Bio (NASDAQ:TIL) reported a Q3 adjusted EPS loss of $(0.16), missing the analyst consensus estimate of $(0.10) by 60%. However, this represents a 62.79% improvement from the $(0.43) per share loss in the same quarter last year.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:50 pm

CKPT

Checkpoint Therapeutics (NASDAQ:CKPT) reported Q3 earnings with a loss of $(0.29) per share, surpassing the $(0.72) estimate, marking a 59.72% beat and a 75.83% improvement from last year's $(1.20) loss. Sales reached $31.00K, exceeding the $10.00K estimate by 210% but showing a 35.42% decline from the previous year's $48.00K.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:49 pm