Streetbeat News

Revenues

U

Unity Software is planning to close corporate offices in approximately 14 locations as part of its evaluation of its real estate footprint. The company will also recognize deferred revenue and additional consideration of approximately $114 million in connection with amendments to its agreements with WETA FX, as disclosed in an 8-K filing.

Portfolio Pulse from Charles Gross

November 28, 2023 | 10:13 pm

OLMA

Olema Oncology announced it will present new clinical data on Palazestrant in combination with CDK4/6 inhibitors at the 2023 San Antonio Breast Cancer Symposium. This could indicate progress in their treatment development for breast cancer.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 10:11 pm

SPLK

Splunk Inc. (NASDAQ:SPLK) reported Q3 earnings of 55 cents per share, surpassing estimates by 42 cents and showing a significant improvement over the previous year's loss of 20 cents per share. Revenue was $1.07 billion, beating expectations by $40 million and marking a 14.80% increase year-over-year. Total ARR reached $4.0 billion, up 15%, with cloud revenue growing 26% to $469 million. The company highlighted its agreement with Cisco and strong cloud business momentum. After the earnings release, SPLK shares remained flat in after-hours trading.

Portfolio Pulse from Ryan Gustafson

November 28, 2023 | 10:08 pm

TUYA

Tuya Inc. expects a gradual recovery in demand for discretionary consumer electronics in Q4. The company, which provides a cloud platform for smart devices, has faced challenges due to the global economic slowdown affecting consumer spending. Tuya's anticipation of improved demand suggests potential for increased revenue and growth in the coming quarter.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:52 pm

TUYA

Tuya Inc. (NYSE:TUYA) reported a positive adjustment in earnings per ADS to $0.02 in Q3, up from a loss of $(0.03) in the same quarter last year. Sales also increased by 35.73% to $61.10 million from $45.02 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:49 pm

AMBO

Ambow Education reported a decrease in Q2 2023 revenues to $2.7M from $5M in Q2 2022, a 46% drop, mainly due to the closure of Bay State College. However, EPS improved to $(0.02) from $(0.05) YoY. Gross profit fell 20% to $1.2M, but gross margin increased to 44.4% from 30%. Operating expenses decreased by 47.4% to $2M due to a one-time stock compensation in Q2 2022 and better expense control. Operating loss narrowed to $0.8M from $2.3M, and net loss to shareholders was $1.0M, or $0.02 per share, improving from a $2.5M loss, or $0.05 per share, in Q2 2022. Ambow had $12.4M in cash resources as of June 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:41 pm

ALVO

Alvotech reported a nine-month EPS of $(1.21) for 2023, a decrease from $(1.00) in the previous year. However, product revenue increased to $29.800 million, up from $11.060 million year-over-year.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:29 pm

ALVO

Alvotech reported a net loss of $275.2 million for the first nine months of 2023, with a loss per share of ($1.21). Revenue increased to $29.8 million, driven by sales of AVT02 in Europe and Canada. R&D expenses rose to $152.8 million due to new biosimilar candidates and termination charges for AVT23. G&A expenses decreased to $58.6 million, primarily due to lower non-cash share listing and transaction costs. Finance costs increased to $107.8 million due to additional borrowings and convertible bonds. The company's cash position was $68.3 million, excluding restricted cash, with borrowings of $912.1 million.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:28 pm

JBL

Jabil Inc. has revised its revenue guidance for Q1, Q2, and the full fiscal year 2024 below analyst estimates, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:24 pm

JBL

Jabil Inc. has updated its FY24 core EPS guidance to $9, with expected revenue around $31 billion, which falls short of the estimated $33.7 billion.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:19 pm