STOCKS TELEGRAPH

Author: Iqra Jamal

  • Victoria’s Secret & Co. (VSCO) Stock Surged 11.66% After-Hours, Here’s Why               

    Victoria’s Secret & Co. (VSCO) stock soared 11.66% in the after-hours trading session at the price of $56.4 after announcing its financial results for the third quarter ended 30th October 2021.  

    Victoria’s Secret is one of the largest intimate specialty retailers. The company offers a variety of fashion-inspired collections like signature bras, panties, underwear, athleisure, casual sleepwear, and swimsuits. It also sells award-winning prestige perfumes and body care products. 

    VSCO Third Quarter Earnings Report 

    On 17th November 2021, VSCO announced its financial results for the third quarter ended 30th October 2021 and provided a future outlook. 

    Management Comments

    Chief executive officer of VSCO, Martin Waters, stated that he is happy with their solid third-quarter results. The high performance reflects growth in all business sections. They will improve the merchandise assortment and grow their already strong consumer file, he added. 

    VSCO Financial Highlights 

    For the third quarter of 2021, VSCO reported a net income of $75.2 million, or $0.81 earnings per diluted share. The previously announced guidance was $0.60 to $0.70 earnings per diluted share. Net income was $143.4 million, or $1.62 earnings per share, for the third quarter of 2020. Adjusted net income was $72.6 million, or $0.82 adjusted earnings per share, for the quarter ended 31st October 2020. 

    VSCO reported an operating income of $107.9 million for the third quarter ended 30th October 2021. For the third quarter of 2020, operating income was $127.4 million, and adjusted operating income totaled $97.5 million. Operating income in the third quarter of 2021 grew 11% over adjusted operating income in the third quarter of 2020. 

    VSCO reported $1.441 billion in net sales for the third quarter ended 30th October 2021. It represents a gain of 7% from net sales of $1.353 billion for the third quarter of the previous year. The sales totaled $1.577 billion in the third quarter of 2019. In the third quarter of 2021, total comparable sales grew 4% from the third quarter of 2019. 

    Fourth Quarter 2021 Outlook 

    For the fourth quarter of 2021, VSCO expects its sales to up 3% from the fourth quarter 2020 sales of $2.100 billion. Diluted earnings per share have expected to range from $2.35 to $2.65 for the fourth quarter of 2021. 

  • Amtech Systems, Inc. (ASYS) Stock Plunged 22.02% After-Hours, Here’s Why           

    Amtech Systems, Inc. (ASYS) stock plummeted 22.02% in the after-hours trading session at the price of $11.90 after announcing its financial results for the fourth quarter and fiscal year ended 30th September 2021.  

    ASYS manufactures capital equipment, including wafer polishing, thermal processing, and related consumables used in analog and discrete devices, silicon carbide and silicon power devices, electronic assemblies, and light-emitting diodes.  

    ASYS Fourth Quarter and Fiscal 2021 Results 

    On 17th November 2021, ASYS reported its financial results for the fourth quarter and fiscal year ended 30th September 2021 and provided corporate updates.

    Fourth Quarter Financial Highlights  

    ASYS reported $24.3 million in net revenue for the fourth quarter of fiscal 2021. Net revenues grew 61% from the fourth quarter of fiscal 2020. For the fourth quarter of fiscal 2021, an operating income was $1.3 million. The income was $0.05 per diluted share in the fourth quarter ended on 30th September 2021. 

    For the fourth quarter ended 30th September 2021, the income from operations totaled $0.7 million, or per share of 5 cents. Loss from operations was $2.0 million, or 14 cents per share, for the fourth quarter of fiscal 2020. In the third quarter of fiscal 2021, ASYS reported an income of $0.4 million, or 3 cents per share.   

    Selling, general & administrative expenses dropped $0.7 million sequentially. SG&A grew by $0.8 million that resulted from higher consulting, logistics, and shipping costs. For the three months ended on 30th September 2021, the income tax provision was $0.7 million, compared to $0.5 million in the same quarter of the prior year. ASYS reported an income tax provision of $0.7 million in the third quarter of fiscal 2021. 

    Fiscal 2021 Financial Results  

    ASYS reported $85.2 million in net revenue for fiscal 2021. For the fiscal year ended 30th September 2021, operating income totaled $3.7 million. The company reported an income from operations of $1.5 million for the fiscal year 2021. The income was $0.11 per diluted share for fiscal 2021. 

    ASYS Financial Outlook 

    For the first fiscal quarter ending 31st December 2021, ASYS anticipates revenues to range from $24 million to $27 million. The gross margin has expected to be roughly 40% for the quarter ending 31st December 2021. 

  • DLocal Limited (DLO) Stock Plunged 20.26% Today, Here’s Why                  

    DLocal Limited (DLO) stock plummeted 20.26% in the pre-market trading session at the price of $42.00 after reporting its financial results for the third quarter ended 30th September 2021. 

    DLocal controls local payments in emerging markets. It connects global enterprise traders with billions of market customers across Latin America, the Middle East, and Africa.  

    DLO Third Quarter 2021 Financial Results 

    On 17th November 2021, DLO published its financial results for the third quarter ended 30th September 2021, and presented corporate updates.  

    Financial Highlights  

    DLO reported revenues of $68.6 million for the third quarter ended 30th September 2021. It represents year-over-year growth of 123% from $30.9 million in the same quarter of the previous year. For the second quarter of 2021, revenue totaled $59.0 million. Total Payment Volume touched $1.8 billion in the third quarter of 2021. It represents year-over-year growth of 217% from $572 million in the last year same quarter. In the second quarter of 2021, the total Payment Volume was $1.5 billion. 

    For the third quarter of 2021, DLO reported an adjusted EBITDA of $26.3 million. Adjusted EBITDA was $12.5 million for the third quarter of last year. For the second quarter of 2021, the adjusted EBITDA was $25.9 million. The company reported an adjusted EBITDA margin of 38% for the third quarter of 2021. Adjusted EBITDA margin was 41% in the third quarter of 2020.  

    Profit was $19.7 million, or per diluted share of $0.06, for the third quarter of 2021. For the third quarter of 2020, a profit was $8.6 million, or per diluted share of $0.03. The profit was $17.7 million, or per diluted share of $0.06, for the second quarter of 2021. Profit in the third quarter of 2021 includes $0.9 million from secondary offering expenses.

    As of 30th September 2021, DLO reported cash, cash equivalents, and marketable securities of $293.1 million. Cash, cash equivalents, and marketable securities totaled $266.0 million as of 30th June 2021. The $27.1 gain from the second quarter indicates an increase of $16.3 million from the company’s funds and $10.8 million funds from the merchants.  

  • Ensysce Biosciences, Inc. (ENSC) Stock Surged 21.45% Pre-Market, Here’s Why              

    Ensysce Biosciences, Inc. (ENSC) stock surged 21.45% in the pre-market trading session at the price of $1.84 after announcing its earnings report for the third quarter of 2021.  

    Ensysce Biosciences is a clinical-stage biotechnology firm that develops tamper-proof opioids to control overdoses and drug abuse. The company uses its Multi-Pill Abuse Resistance and Trypsin-Activated Abuse Protection platforms to produce safer prescription drugs.  

    ENSC Third Quarter 2021 Financial Results  

    On 15th November 2021, ENSC reported its financial results for the third quarter ended 30th September 2021 and presented corporate updates.  

    Financial Highlights  

    ENSC reported a net loss of $17.2 million for the third quarter of 2021. For the same period in 2020, net income was $1.6 million. The company acquired $10 million in funding from the convertible note financing on 5th November 2021. For the third quarter of 2021, funding under federal grants totaled $1.2 million. Funding under federal grants was $0.8 million for the same quarter of the previous year.  

    ENSC reported research and development costs of roughly $1.7 million for the third quarter ended 30th September 2021. R&D expenses were $0.9 million for the three months ended on 30th September of 2020. For the third quarter of 2021, general and administrative costs totaled $16.4 million. G&A expenses were approximately $0.3 million for last year’s same quarter. As of 30th September 2021, ENSC reported cash and cash equivalents of roughly $6.8 million. 

    Completion of Convertible Note Financing 

    On 8th November 2021, ENSC published the completion of its private placement for senior secured convertible notes for an aggregate investment of $15 million. The company will use total gross proceeds worth $15 million for its general working capital plans. The first closing provided $5 millions of funding on 24th September 2021. On 5th November 2021, the second closing provided $10 million of funding.  

    The Notes are exchangeable into common stock shares at a conversion price of $5.87. The Notes had issued with an original discount of 6%. The Warrants have the right to purchase common stock shares at an exercise price of $7.63 and are exercisable for five years after the issuance.  

  • Ferroglobe PLC (GSM) Stock Plunged 7.26% in the After-Hours, Here’s Why                 

    Ferroglobe PLC (GSM) stock plummeted 7.26% in the after-hours trading session at the price of $6.00 after announcing its financial results for the third quarter of 2021. 

    Ferroglobe is the leading provider of manganese-based and silicon-based specialty alloys, ferroalloys, and metals. It serves the client base in fast-growing end markets, such as automotive, solar, construction, consumer products, and energy. 

    GSM Third Quarter 2021 Results 

    On 16th November 2021, GSM published its financial results for the third quarter, ended 30th September 2021, and presented business updates. 

    Earnings Highlights 

    For the third quarter of 2021, GSM reported $429.2 million in net sales. It represents a gain of 2.5% from the previous quarter and a rise of 63.4% from the third quarter of 2020. The net loss was ($97.6) million, or per diluted share of ($0.54), for the third quarter of 2021. For the third quarter of 2021, GSM reported an EBITDA of $35.2 million. A gain of 10.3% from $31.9 million in the second quarter of 2021.

    For the third quarter of 2021, GSM reported a cost from sales of $295.3 million. The cost of sales was $267.9 million in the second quarter of 2021. Other operating expenses totaled $79.8 million for the third quarter of 2021. An adjusted EBITDA margin was 8.8% for the third quarter ended 30th September 2021. An adjusted EBITDA margin was 8.1% for the second quarter of 2021. 

    For the third quarter of 2021, net loss attributable to the company was ($96.6) million, or per diluted share of ($0.54). The net profit attributable to the company was $1.9 million, or per diluted share of $0.01, in the second quarter of 2021. GSM reported cash from operations of $34.7 million for the three months ended on 30th September 2021.

    Working capital was $395.9 million as of 30th September 2021. It increased by $61.6 million from $334.3 million as of 30th June 2021. For the third quarter ended on 30th September 2021, net debt was $404 million. It represents a gain of $358 million from the second quarter of 2021. 

  • Ecovyst Inc. (ECVT) Stock Plunged 9.59% After-Hours, Here’s Why               

    Ecovyst Inc. (ECVT) stock plummeted 9.59% in the after-hours trading session at the price of $11.50 following the announcement of a secondary offering of common stock shares by selling stockholders.  

    ECVT is a leading integrated and innovative corporation that provides specialty catalysts and services to customers globally. Its inorganic products and services assist in improving the sustainability of the ecosystem. 

    ECVT Announced Offering of Common Stock Shares 

    On 16th November 2021, ECVT published that its stockholders proposed to offer 12,500,000 shares of its common stock for sale. The common stock shares are offered under the company’s registration statement filed with the Securities and Exchange Commission. The selling stockholders have also offered the underwriters an option to buy an additional 1,875,000 shares at the public offering price. All the net proceeds from this public offering will receive by the selling stockholders.  

    ECVT Third Quarter 2021 Financial Results 

    On 9th November 2021, ECVT announced its financial results for the third quarter ended 30th September 2021 and presented a future outlook. 

    Financial Highlights  

    ECVT reported net sales of $167.4 million for the third quarter of 2021. A gain of 28.1% from the same period of 2020. For the third quarter of 2021, net income totaled $4.7 million, or $0.03 per diluted share. The company reported an adjusted net income of approximately $25.5 million for the third quarter ended 30th September 2021. Adjusted EBITDA was $69.4 million, or adjusted EPS of $0.19, for the third quarter of 2021.   

    For the three months ended on 30th September 2021, consolidated cash from operations was approximately $84.9 million. Adjusted free cash flow totaled $57.9 million during the third quarter of 2021. On 30th September 2021, ECVT reported gross debt of roughly $897.8 million. Cash and cash equivalents totaled $104.8 million on 30th September 2021. 

    2021 Financial Outlook 

    For full-year 2021, ECVT expects sales to range from $590 million to $600 million, higher roughly $565 million to $575 million year-over-year. Adjusted EBITDA has anticipated to range from $220 million to $225 million for full-year 2021, increased from $215 million to $225 million.

  • Riot Blockchain, Inc. (RIOT) Stock Plunged 9.27% Pre-Market, Here’s Why          

    Riot Blockchain, Inc. (RIOT) stock plummeted 9.27% in the pre-market trading session at the price of $38.19 after reporting its financial results for the third quarter of 2021.

    RIOT works on the mining and hosting of Bitcoin mining tools for institutional customers. It develops and upgrades its mining operations through infrastructure development and miner procurement. 

    RIOT Third Quarter 2021 Financial Results 

    On 15th November 2021, RIOT reported its earnings report for the three months that ended on 30th September 2021 and presented business updates.  

    RIOT Financial Highlights 

    For the three months ended 30th September 2021, RIOT reported total revenue of $64.8 million. It represents a gain of 2,532% from $2.5 million for the same quarter of 2020. Net loss was $15.3 million for the third quarter ended 30th September 2021. For the same quarter of 2020, the net loss was $1.7 million.

    For the third quarter of 2021, the mining revenue margin was $40.6 million, or 76% of mining revenue. The mining revenue margin was $1.1 million, or 47% of mining revenue, for the third quarter of 2020. RIOT reported $40.3 million in selling, general, and administrative expenses for the third quarter of 2021. SG&A expenses were $2.0 million for the three-month ended 30th September 2020.

    For the three months ended on 30th September 2021, RIOT reported an adjusted EBITDA of $37.6 million. Adjusted EBITDA (loss) was $0.4 for the same three-month of 2020. As of 30th September 2021, the current assets totaled $179.0 million.  

    For the quarter ended 30th September 2021, net loss was $15.3 million, or per share of ($0.16). Net loss was $1.7 million, or per share of $(0.04), for the same the third quarter of the previous year.  

    Management Comments  

    Chief executive officer of Riot, Jason Les, remarked that they are delighted to report another quarter with record earnings. These results prove the constant financial and operational developments their management is delivering. The company’s integrated and technology-focused strategy significantly de-risks its future growth plans. Moreover, it improves its capital abilities as technological improvements had incorporated into future hash rate deployments.  

  • OptiNose, Inc. (OPTN) Stock Plunged 22.59% Pre-Market, Here’s Why                  

    OptiNose, Inc. (OPTN) stock plummeted 22.59% in the pre-market trading session at the price of $1.80 after it published public offering of common stock and financial results for the third quarter of 2021. OPTN is a specialty pharmaceutical firm dedicated to serving the patients cared for ear, nose, and throat (ENT) and allergy experts. 

    OPTN Public Offering of Common Stock 

    On 15th November 2021, OPTN published to offer its shares of common stock in a proposed public offering. The company will grant the underwriters an option of 30 days to purchase an additional 15% of the total shares. OptiNose has not yet finalized the public offering price. The public offering is subject to all market conditions, and there is no information related to the closure of the offering.  

    OPTN will utilize the net proceeds of the public offering for its general corporate and working capital purposes, including the commercialization and clinical development of XHANCE. The company offers securities under the Form S-3 (No. 333-258707). This Form has earlier filed with the Securities and Exchange Commission on 11th August 2021 and became effective from 31st August 2021. 

    OPTN Third Quarter 2021 Financial Results 

    On 15th November 2021, OPTN announced its financial results for the third quarter ended on 30th September 2021, and presented operational updates. 

    Financial Highlights 

    OPTN reported $21.8 million in revenue from sales of XHANCE during the three months ended 30th September 2021. Revenue from sales of XHANCE totaled $51.1 million for the nine months ended on 30th September 2021. The net loss was $(17.1) million, or per basic and diluted share of $0.32, for the third quarter of 2021. For nine months ended 30th September 2021, net loss was $66.7 million, or per basic and diluted share of $1.25.  

    OPTN reported research and development expenses of $6.7 million for the third quarter of 2021. For the nine months ended on 30th September 2021, R&D expenses were $20.1 million. Selling, general, and administrative costs were approximately $25.8 million for the third quarter of 2021. SG&A expenses were $80.3 million for the nine months ended on 30th September 2021. Cash and cash equivalents totaled $84.2 million as of 30th September 2021. 

  • Evofem Biosciences, Inc. (EVFM) Stock Plunged 16.24% After-Hours, Here’s Why          

    Evofem Biosciences, Inc. (EVFM) stock plummeted 16.24% in the after-hours trading session at the price of $0.56 after reporting its financial results for the third quarter of 2021.  

    EVFM develops and commercializes innovative products to fulfill the unmet needs of females’ sexual and reproductive health. Its product portfolio includes woman-controlled, hormone-free protection from sexually transmitted diseases like gonorrhea and chlamydia.  

    EVFM Third Quarter 2021 Financial Results 

    On 15th November 2021, EVFM announced its earnings report for the three and nine months, ended on 30th September 2021, and presented business updates. 

    EVFM Financial Highlights 

    For the three months ended on 30th September 2021, Phexxi’s net product sales totaled $1.7 million. During the third quarter of 2021, Ex-factory sales hit a 29% gain in gross revenues growth compared to the second quarter of 2021. For the three months ended on 30th September 2021, the company reported an operating loss of $43.4 million.  

    For the quarter ended 30th September 2021, net loss attributable to stockholders totaled $74.1 million, or net loss per share of $(0.48). EVFM reported cash and cash equivalents of roughly $14.9 million on 30th September 2021. The restricted cash of about $9.0 million was available for use on 30th September 2021.  

    EVFM reported selling and marketing expenses of $30.5 million for the three months ended on 30th September 2021. It represents a gain of 12% from the second quarter of 2021. General and administrative expenses were $5.0 million for the third quarter of 2021. It is a drop of 23% from the second quarter of 2021. For the third quarter of 2021, total operating expenses were $45.1 million. It represents a gain of 5% from $43.0 million in the second quarter of 2021.

    EVFM reported $8.7 million in research and development expenses. A rise of 2% from the second quarter of 2021. The gain resulted from higher enrollment in the EVOGUARD trial. In the third quarter of 2021, other net expenses totaled $30.7 million. They included roughly $1.2 million in interest charges and $29.5 million in fair value from mark-to-market adjustments under the April 2020 agreement.

  • SilverSun Technologies, Inc. (SSNT) Stock Plunged 8.96% After-Hours, Here’s Why     

    SilverSun Technologies, Inc. (SSNT) stock plummeted 8.96% in the after-hours trading session at the price of $6.10 after SWK Technologies acquired the Acumatica division of Dynamic Tech Services, Inc.  

    SSNT is a business administration, technology, and advising company. It provides IT solutions and software to meet customers’ business management and technology demands. Its technologies and services facilitate clients to maintain, preserve, and monetize their business assets in the Cloud or a hybrid cloud environment. 

     SilverSun Technologies Acquired Dynamic Tech Services 

    On 15th November 2021, SSNT published that SWK Technologies, its wholly-owned subsidiary, signed a letter to acquire Dynamic Tech Services, Inc. Dynamic Tech Services has sold and executed Acumatica solutions to clients all across Puerto Rico, the United States, and the Caribbean. The transaction is subject to customary closing conditions and has expected to close by year-end. 

    Management Comments 

    Chief executive officer of SSNT and SWK Technologies, Mark Meller, remarked that they are delighted about this acquisition. Their Acumatica client base will grow by 30% due to this transaction. For over ten years, Joel Gress and his management team have been part of the Acumatica.  Meller welcomed their addition as the company keeps expanding its cloud applications. 

    SSNT Third Quarter 2021 Financial Results 

    On 9th November 2021, SSNT published its financial results for the three and nine months ended 30th September 2021 and provided corporate updates.  

    SSNT Third Quarter 2021 Results  

    For the third quarter of 2021, SSNT reported revenues of $10 million. Gross profit totaled $3.9 million for the third quarter of 2021. It represents a drop of 2.8% from $4.05 million for the same three months of 2020. The company reported a net loss of $0.24 million, or per basic and diluted share of $0.05, for the third quarter of 2021.  

    Nine Months Financial Results 

    SSNT reported revenues of $31 million for the nine months ended on 30th September 2021. Gross profit grew 9.4% to $12.9 million for the nine months of 2021. Net income totaled $0.24 million, or per basic and diluted share of $0.05, for the nine months of 2021.