Streetbeat News

Revenues

JCSE

JE Cleantech reported a 22.5% increase in its 1H revenue, reaching $6.5M.

Portfolio Pulse from Bill Haddad

October 03, 2023 | 12:10 pm

ENVX

Enovix Corporation (NASDAQ:ENVX) has announced a strategic realignment of its Fab1 facility in Fremont, shifting its focus from manufacturing to innovation. This move will result in a workforce reduction of approximately 185 personnel, including over 125 contractors, and is expected to save the company around $22 million annually. Due to this shift, Enovix cut off production at approximately 24,000 small cell units in Q3 2023, less than its guidance of 36,000 cells, but expects to recognize approximately $200,000 of total revenue.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 11:41 am

RNLX

Renalytix has announced that the Centers for Medicare & Medicaid Services has published the price for the company's FDA-authorized KidneyIntelX.DKD test on the Nationwide Clinical Laboratory Fee Schedule at $950.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 11:12 am

KITT

Nauticus Robotics has agreed to acquire underwater laser LiDAR technology pioneer, 3D at Depth, for approximately $34M in stock. The transaction is expected to be accretive to Nauticus' 2024 revenue per share, earnings per share, and cash flow per share. In 2022, 3D generated $9.8 million of revenue with a gross profit margin over 60%, and is projected to grow revenue by more than 20% in 2023. Nauticus will also assume about $4.1 million of 3D's debt.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 10:03 am

DXC

DXC Technology has been selected by the Crown Prosecution Service (CPS) for England and Wales to run and transform their IT infrastructure in a multi-year contract worth up to $11 million. DXC will become the CPS's trusted service desk partner, providing 24/7 support to manage IT issues for its approx. 7,000 employees.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 9:29 am

COIN

ETHUSD

Friend.tech, a decentralized social media platform built on Coinbase's Layer 2 protocol, Base, has seen significant growth in revenue and total value locked (TVL) on its platform. The platform's revenue model, which includes the use of sniper bots and efficient algorithms, has been a key driver of this growth. However, the platform has faced criticism for its revenue model, with some suggesting it can be easily manipulated.

Portfolio Pulse from Khyathi Dalal

October 02, 2023 | 11:26 pm

VVPR

VivoPower International PLC reported a 33% year-on-year decline in its annual group revenue from continuing operations to $15.1 million. The company's adjusted net after-tax loss narrowed to $14.2 million, and adjusted EPS to $0.58 per share, from a $19.1 million loss and $0.92 per share respectively for FY22.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 9:05 pm

MHUA

Meihua International Medical Technologies Co reported its 1H revenues of $48.2M, marking a decrease of 12.1% YoY.

Portfolio Pulse from Bill Haddad

October 02, 2023 | 8:31 pm

ODD

Oddity Tech Ltd. (NASDAQ:ODD) has announced preliminary unaudited financial results for Q3 2023, expecting to report record results and beat revenue guidance. The company anticipates a YoY net revenue growth for Q3 between 29-31%, exceeding initial guidance of 18-23%. The strong financial results are attributed to the company's platform, which is transforming the global beauty and wellness market. The company's brands, IL MAKIAGE and SpoiledChild, continue to deliver high growth and profitability.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 8:08 pm

COST

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Costco Wholesale Corporation (NASDAQ:COST) with a price target of $575. Feldman expects Costco's traffic to increase by 5.5% and digital sales to remain flat. He also anticipates Food & Sundries and Fresh Foods to outperform due to healthy at-home consumption trends. Despite uncertainties, Feldman believes Costco will continue to gain share with solid sales and high membership renewal rates. He forecasts a total comp of 3.8% versus 8.5% last year.

Portfolio Pulse from Shivani Kumaresan

October 02, 2023 | 6:34 pm