Streetbeat News

Revenues

RCAT

Red Cat Holdings has announced its Q4 revenue guidance at $7M, aligning with estimates, and anticipates continued double-digit sequential growth into FY25.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 9:58 pm

ZEPP

Zepp Health projects its Q1 2024 revenue to be between $42M and $49M.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 9:12 pm

LICY

Li-Cycle announced progress in its comprehensive review, including improving its liquidity position and conducting an internal technical review of the Rochester Hub. The company reported cash and cash equivalents of $71 million as of December 31, 2023, and $35 million as of March 15, 2024, excluding $10 million in restricted cash. Following the pause in construction of the Rochester Hub, Li-Cycle implemented a Cash Preservation Plan on November 1, 2023, leading to significant workforce reductions and decreased non-operational spending to enhance liquidity.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:38 pm

CTNT

Cheetah Net Supply Chain Service Inc. (CTNT) reported a significant decline in FY23 financial results, with EPS dropping to $0.01 from $0.05 YoY. Revenue fell by 30.5% to $38.4 million due to a strategic pause in vehicle procurement and a shift in procurement pricing strategy. Despite the revenue decline, cost control measures were effective, with a decrease in total cost of revenue and selling expenses. Net income also decreased to $0.1 million from $0.8 million in 2022.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:28 pm

RGF

The Real Good Food Company, Inc. (NASDAQ:RGF) announced Tim Zimmer as the new CEO effective March 15, 2024, succeeding Gerard Law. Zimmer brings over 30 years of experience from roles at Smithfield Foods, Sara Lee Foods, Kraft Foods, and Nestle. The company also appointed Mark Dietz as Senior VP of Operations to enhance supply chain efficiencies. RGF plans to close its City of Industry facility by June 30, 2024, for cost savings and improved margins. Consumption of RGF's branded products increased by 53% year over year as of February 2024. The company's recent refinancing reduced cash debt service, enhancing liquidity. Additionally, RGF is restating its financial statements for 2022 and 2023 due to inventory errors, estimating a reduction in inventory balance between $7 million and $12 million.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:24 pm

REYN

Reynolds Consumer Products has reaffirmed its 2024 financial guidance, projecting net revenues of $3.53B-$3.64B and EPS of $1.57-$1.65, aligning closely with analyst estimates of $3.601B in revenue and $1.62 EPS.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:19 pm

RFIL

RF Industries (NASDAQ:RFIL) reported Q1 losses of $(0.06) per share, meeting analyst estimates, but missed revenue expectations with $13.46M against a $14.49M forecast. This represents a 26.63% decrease in sales compared to the same period last year.

Portfolio Pulse from dijoy@benzinga.com

March 18, 2024 | 8:18 pm

REYN

Reynolds Consumer Products has reaffirmed its Q1 2024 guidance, projecting net revenues of $795M-$820M and EPS of $0.21-$0.23, aligning closely with analyst estimates of $813.837M in revenue and $0.22 EPS.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:17 pm

PBM

Psyence Biomedical Ltd. (NASDAQ:PBM) welcomed a study published in Molecular Psychiatry, showing nature-derived psilocybin may be more therapeutic than synthetic versions, particularly in neuroplasticity effects. The study, not funded by Psyence Biomed, was conducted by Hebrew University. Psyence Biomed, focusing on nature-derived psilocybin for Palliative Care, is preparing for a Phase llb clinical trial targeting Adjustment Disorder in cancer patients. The U.S. Palliative Care market is expected to grow to $28.6 billion by 2030. Psyence Biomed's approach could potentially improve patient quality of life and reduce healthcare costs.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:11 pm

OPAD

OPEN

RDFN

Z

The National Association of Realtors (NAR) has reached a $418 million settlement that introduces significant changes to how agent commissions are negotiated, impacting online real estate platforms like Zillow and Redfin. The settlement, effective by mid-July 2024, ends the practice of seller's agents determining buyer's agent compensation and requires written agreements for commissions. This could pose revenue and profit challenges for Zillow and Redfin, which rely heavily on buy-side commissions. However, the settlement also removes a regulatory overhang, and companies with innovative models and technology, including Opendoor and Offerpad, are well-positioned to adapt and potentially benefit in the long term.

Portfolio Pulse from Surbhi Jain

March 18, 2024 | 7:12 pm