STOCKS TELEGRAPH

Author: Shimrez Hyder

  • Audioeye Inc (AEYE) Stock Plummets Following Disclosure of Financial Reports for Q2 2021

    Audioeye Inc (AEYE) Stock Plummets Following Disclosure of Financial Reports for Q2 2021

    Audioeye Inc (AEYE) stock prices were down by 26.01% shortly after market trading commenced on August 12th, 2021. This brought the price per share down to USD$9.70 early on in the trading day.

    AEYE Stock Reports Strong Q2 2021

    AEYE stock reported continued sequential growth in MRR for the second quarter of fiscal 2021, with margins being maintained in the mid-70%s. Continued sequential growth in MRR is expected to continue across all recurring lines of revenue. Revenue is expected to be in the range of USD$6.1 million to USD$6.3 million for the third quarter of fiscal 2021.

    Setting the Stage for Success

    The company has invested heavily in its platform and workforce over the prior two quarters. It continues to lead the market with a front-running solution that combines advanced AI and human-assisted technology. This is done by certified remediation and subject matter experts. The company is in the early stages of digital accessibility and is well-positioned to capitalize on opportunities for future growth.

    Additional Finances

    Total revenue for the second quarter of fiscal 2021 were up 14% to hit a record USD$6 million, up from the USD$5.3 million reported in the prior-year quarter. Monthly Recurring Revenue (MRR) was up 25% as of June 30th, 2021. The 2021 quarter reported an MRR of USD$2 million, up from the USD$1.6 million reported as of June 30th, 2020. The company reported a stellar liquidity position, with cash on hand in the amount of USD$24.8 million as of June 30th, 2021. This is compared to the USD$9.1 million reported as of December 31st, 2020.

    Gross Profit Breakdown

    Gross profit for Q2 2021 came out to a record-breaking USD$4.5 million, representing 74.9% of total revenue for the quarter. This is up from the USD$3.7 million reported for the prior year quarter, which represented 69.6% of total revenue for the quarter. The year-over-year difference was largely driven by scale and efficiencies. These were realized from the increased platform and product investment. These investments were in line with AEYE stock’s continued drive to improve and expand the level of automation in its product offerings.

    Future Outlook for AEYE Stock

    AEYE stock is armed with the strength of its financial reports for the 2021 quarter. The company is keen to bounce back from its dip in share price to usher in unprecedented growth. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is expected to facilitate significant and sustained increases in shareholder value.

  • Medavail Holdings Inc. (MDVL) Stock Plummets Following Financial Reports for Q2 2021

    Medavail Holdings Inc. (MDVL) Stock Plummets Following Financial Reports for Q2 2021

    Medavail Holdings Inc. (MDVL) stock prices plummeted by 52.06% shortly after market trading commenced on August 12th, 2021. This brought the price per share down to USD$3.60 early on in the trading day.

    Strong Q2 2021 Financials

    MDVL stock reported strong second quarter of 2021 financial results, building on the momentum generated in the prior quarter. Sales were up by a massive 118% on a sequential basis, reflecting this snowball effect. The company is keen to spearheading the proliferation of its Retail Pharmacy Services in the Florida region in the second half of fiscal 2021.

    Expanding Network of Partners

    The company is also looking forward to adding continued value to its network of current partners. This is evidenced by its recent expansions in several key accounts. To this end, MDVL stock recently announced two significant new strategic endeavors. The first is a new Retail Pharmacy Services partnership with Zipdrug, which is a subsidiary of Anthem. The second endeavor is a new Pharmacy Tech integration with Epic’s pharmacy system software.

    Promising Guidance

    2020 had seen MDVL stock receive a one-time revenue recognition adjustment associated with a large customer agreement. Barring this, the company expected to deliver revenue growth surpassing 100% in 2021. Forecasts expect the company to maintain this topline growth rate through to 2022, on the assumption of the global economy returning to pre-pandemic levels. The growth forecasts are consolidated by high demand for the company’s offerings, as well as ongoing expansions into new geographies. Further compounding the strong outlook are the company’s various new strategic partnership opportunities.

    MDVL Stock’s Sales Breakdown

    Total net sales for the quarter ended June 30th, 2020 were up to USD$5 million, indicating a 118% increase. Retail Pharmacy Services sales were up by 162% to hit USD$4.5 million, while Pharmacy Tech sales were down by 10% to USD$0.5 million. The 2021 quarter saw the deployment of 12 MedCenters, while the prior year period only saw 7. Net loss came out to USD$10.5 million, up from the USD$6.5 million reported for the prior year period.

    Future Outlook for MDVL Stock

    Armed with the developments over the past few months, MDVL stock is poised to recover from the daunting movement of its share price. The company is keen to bounce back and ensure significant and sustained increases in shareholder value.

  • IEC Electronics Corp. (IEC) Stock Skyrockets Following Promising Financials and Upcoming Merger

    IEC Electronics Corp. (IEC) Stock Skyrockets Following Promising Financials and Upcoming Merger

    IEC Electronics Corp. (IEC) stock prices skyrocketed by 47.47% shortly after market trading commenced on August 12th 2021. This brought the price per share up to USD$15.35 early on in the trading day.

    Definitive Merger Agreement

    August 12th, 2021 saw IEC stock report the announcement of the signing of a definitive merger agreement with Creation Technologies Inc. as per the agreement, the partnering company will acquire all outstanding shares of IEC. The transaction saw each share being priced at USD$15.35, with the entire transcaction being complete in cash. The new came in conjunction with financial reports for the third quarter of fiscal 2021.

    IEC Stock Financials

    IEC stock reported revenues in the amount of USD$49.4 million for the third quarter of fiscal 2021. This is a 4.2% increase from the USD$47.4 million reported for the prior year quarter. Gross profit for Q2 2021 came out to USD$5.2 million, making up 10.6% of sales for the quarter. This is up from the USD$6.6 million as of Q3 2020, representing 14% of total sales for the quarter. Operating profit came out to USD$1.9 million for the third quarter of 2021, up from the USD$3 million reported for the prior year quarter.

    Overcoming Pandemic Challenges

    The company reported solid revenue growth for the 2021 quarter despite the headwinds faced by the entire industry. IEC stock was not exempt from the ongoing material shortages and labor constraints. The company continued to ramp up multiple exciting new programs over the course of the quarter. Given the complexity of the programs being serviced, IEC’s ramping process was not linear. It frequently included process development adaptations which continue to impact profitability.

    IEC Stock’s Promising Growth

    Once established, however, IEC stock expects the programs to provide considerable long-term revenue and margin opportunity. As the world strives to return to pre-pandemic levels of economic functioning, IEC is encouraged by the increased backlog of 2021. The 2021 backlog was higher than numbers reported for the prior year period. The company was also encouraged by a solid book to bill ratio of 1.76:1 in Q3 2021, inclusive of a contract extension valued at more than USD$45 million.

    Future Outlook for IEC Stock

    Armed with its recent promising developments and strong financials, IEC stock is poised to capitalize on the opportunities afforded to it. The company is keen to leverage the resources at its disposal. Investors are hopeful that this will facilitate significant and sustained increases in shareholder value.

  • GBS Stock Minorly Volatile Following Disclosure of Q2 2021 Financial Reports

    GBS Stock Minorly Volatile Following Disclosure of Q2 2021 Financial Reports

    GBS Inc. (GBS) stock prices were up by 2.30% as of the market closing on August 11th, 2021. This brought the price per share up to USD$3.12 at the end of the trading day. Subsequent premarket fluctuations saw the stock fall by 7.05%, bringing it down to USD$2.90.

    GBS Stock Financial Stability

    The second quarter of fiscal 2021 saw GBS stock report USD$4.7 million in Medical Products Priority Grant funding. The grant came from the Australian government and is designed to fund a high-tech manufacturing facility. This facility has been identified as one of six National Manufacturing Priorities. The company’s recent IPO further consolidated the companies financial stability by generating USD$21.6 million in gross proceeds. GBS stock also secured an option to acquire a North American license for Glucose Testing. This option agreement would see the company acquire 100% of the glucose license in North America for USD$5 million.

    GBS Stock Network of Partners

    GBS stock partnered up with Johns Hopkins University in a Sponsored Research Agreement for glucose and Covid-19 testing. This has further accelerated the development of next-gen saliva-based biagnostic test candidates. The company also partnered up with Precision Medicine Architects, who will serve as advisors for clinical strategy. The partners will primarily advise in support of regulatory, commercial, and marketing services measures.

    Strong Liquidity Position

    The company reported cash, cash equivalents, and marketable securities in the amount of almost USD$12.7 million as of June 30th, 2021. This is compared to the USD$0.43 million reported as of June 30th, 2020. This year-over-year difference was largely driven by the company’s IPO in December 2020. The IPO generated roughly USD$19.7 million in net cash proceeds.

    Net Loss Reports

    GBS stock reported a year to date preliminary net loss of USD$8.5 million, representing a net loss of USD$0.68 per share. This is compared to a net loss of USD$3.3 million in the same time period of the prior year. The prior-year period representing a net loss of USD$0.37 per share. The year-over-year difference was largely driven by the acceleration of the development and commercialization expenditures.

    Future Outlook for GBS Stock

    The company reported promising financial reports for the most recent quarter and is keen to continue its trajectory of success. GBS stock is poised to capitalize on the opportunities afforded to it as it enters the second half of fiscal 2021. Current and potential investors are hopeful that management will be able to adequately leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.

  • MannKind Corp. (MNKD) Stock Undergoes Minor Volatility Following Disclosure of Q2 2021 Financial Reports

    MannKind Corp. (MNKD) Stock Undergoes Minor Volatility Following Disclosure of Q2 2021 Financial Reports

    MannKind Corp. (MNKD) stock prices were up 2.57% as of the market closing on August 11th 2021. This brought the price per share up to USD$3.99 at the end of the trading day. Subsequent premarket fluctuations saw the stock fall by 5.76%, bringing it down to USD$3.76.

    MNKD Stock’s Revenue Reports

    Total revenues for the second quarter of fiscal 2021 were reported at USD$23.3 million, representing a 54% increase. Afrezza net revenue was reported at USD$10 million, while collaboration and services revenue came in at USD$13.3 million. This represents a 43% increase in Afrezza net revenue from the USD$7 million reported in the prior year quarter. This year-over-year difference is largely driven by higher prescription demand. The negative effects of the Covid-19 pandemic in the prior year period further consolidated the yearly difference. Further adding to the year-over-year difference was a more favorable mix of Afrezza cartridges and price.

    Gross Profit Reports

    Gross profit for the quarter came out to USD$5.6 million, compared to the USD$3.3 million reported in the prior year quarter. The 68% increase was largely attributable to higher Afrezza revenue and increased manufacturing activities. This resulted in a higher amount of costs capitalized to inventory, which was partially offset by a USD$2 million fee. The fee was for an amendment of MNKD’s insulin supply agreement.

    Gross Margin and R&D Costs

    Gross margin for Q2 2021 was reported at 56%, up from the 47% reported in the prior-year quarter. Excluding the USD$2 million insulin supply amendment fee, the gross margin was 76% on a non-GAAP basis for Q2 2021. This is comparable to the 47% reported in the same period of fiscal 2020. R&D expenses for Q2 2021 came in at USD$2.3 million, up from the USD$1.5 million reported for Q2 2020. The 59% increase was largely driven by increased development activity related to MNKD stock’s product pipeline.

    MNKD Stock’s SG&A Costs

    SG&A costs for Q2 2021 were reported at USD$20.1 million, up from the USD$13.7 million for the second quarter of 2020. The 47% increase was largely driven by the expansion of MNKD stock’s Afrezza related investment. Lowered expenses in 2020 from reduced compensation and field force activities also drove the yearly difference.

    Future Outlook for MNKD Stock

    MNKD is poised to capitalize on the momentum generated by the strength of its financial reports for Q2 2021. The company is keen to leverage the resources at its disposal to continue its trajectory of success. Investors are confident in management’s ability to facilitate consistent returns in shareholder value.

  • New Gold Inc. (NGD) Stock Exhibits Minor Volatility Despite Promising Q2 2021 Financial Reports

    New Gold Inc. (NGD) Stock Exhibits Minor Volatility Despite Promising Q2 2021 Financial Reports

    New Gold Inc. (NGD) stock prices were down by 9.03% as of the market closing on August 11th 2021, bringing the price per share down to USD$1.31 at the end of the trading day. Subsequent after hours trading saw the stock increase by 3.82%, bringing it up to USD$1.36.

    NGD Stock Revenue Reports

    NGD stock reported revenues in the amount of USD$198 million for the second quarter of 2021. Revenues for the six month period ended June 30th 2021 came out to USD$363 million. These numbers reflect an increase from prior year periods. This increase was largely driven by higher sales volumes, as well as higher gold and copper prices.

    NGD Stock Operating Costs

    Operating costs were higher for Q2 2021, as well as the first half of 2021, as compared to their 2020 counterparts. This year-over-year increase was largely attributable to the strengthening of the Canadian dollar. Also contributing were costs related to the development of operations at New Aftron in the first quarter. The yearly difference was accentuated by the Canada Emergency Wage Subsidy benefitting the numbers from 2020.

    Additional Finances

    Net loss for the second quarter of 2021 were reported at USD$16 million, representing a net loss of USD$0.02 per share. Net earnings for the first half of fiscal 2021 came out to USD$1 million for the period ended June 30th 2021. Higher revenue resulted in the improvement from numbers reported in the prior-year periods. The difference, however, was offset by higher operating costs in the second 2021 quarter. The difference was further offset by the loss on revaluation of the New Afton free cash flow interest obligation, as well as the loss on the revaluation of investments. Furthermore, the 2020 periods included an impairment loss resulting from the reclassification of Blackwater as an asset held for sale.

    Adjusted Net Earnings

    Adjusted net earnings for the second quarter of 2021 came out to USD$27 million, representing adjusted net earnings of USD$0.04 per share. Numbers for the first half of 2021 were reported at USD$35 million, coming out to USD$0.05 per share. The increase from prior-year periods was largely driven by higher revenues, partially offset by higher costs.

    Future Outlook for NGD Stock

    Armed with the promising development of its financial reports for Q2 2021, NGD stock is poised to capitalize on its momentum. The company is keen to leverage its growth to ensure a continued trajectory of success. Investors are hopeful for significant and sustained increases in shareholder value.

  • GoHealth Inc. (GOCO) Stock Trends Lower as Global Coronavirus Pandemic Continues Devastating Markets

    GoHealth Inc. (GOCO) Stock Trends Lower as Global Coronavirus Pandemic Continues Devastating Markets

    GoHealth Inc. (GOCO) stock prices were down 4.65% as of the market closing on August 11th 2021, bringing the price per share down to USD$8.20 at the end of the trading day. Subsequent pre-market fluctuations saw the stock fall by 8.05%, bringing it down to USD$7.54.

    Net Revenue Reports

    The second quarter of 2021 saw GOCO stock report USD$196.9 million in net revenue, representing a 55% increase from the prior year quarter. Net revenue generated since the start of fiscal 2021 came out to USD$401.1 million, a 50% increase from the prior year period. GOCO reported an 84% increase in Q2 2021 Medicare – Internal revenue, bringing it up to USD$160.4 million. Year-to-date 2021 Medicare – Internal revenue was up by 74% as compared to the prior year period, bringing it up to USD$317.8 million.

    GOCO Stock’s MA Segment

    Medicare Advantage Approved Submissions were up to 152,749 for the second quarter of fiscal 2021, up 58% from the prior year quarter. Year-to-date 2021 MA Approved Submissions were up to 323,876, representing a 52% increase from the prior year period. The 2021 quarter reported MA LTV Per Approved Submission in the amount of USD$953, a 5% year-over-year increase. Year-to-date reports peg MA LTV Per Approved Submission at USD$975, an 11% increase from the prior year period.

    Additional Finances

    GOCO stock reported a net loss of USD$39.2 million for Q2 2021, as compared to a net loss of USD$22.9 million in the prior year quarter. Adjusted EBITDA in the amount of USD$14.3 million for the second quarter of 2021 reported a 47% decrease from prior year numbers. This year-over-year difference was largely driven by 2021 strategic investments in agent capacity, marketplace technology, branding and the Encompass Platform.

    Scope of Company’s Performance

    The success of the company’s Q2 2021 financial results were ensured by the company’s ability to increase their agent counts. This is in line with their 50% growth target, seeing the company ensure having ample agent capacity. GOCO stock expects the capacity to help address anticipated demand during the 2021 Annual Enrollment Period. Enhanced training and tight labor markets, however, have resulted in unexpected cost pressures. These pressures are expected to persist over the remainder of the year.

    Future Outlook for GOCO Stock

    GOCO is poised to capitalize on the recovery of the global economy to pre-pandemic functioning. This is evidenced by the success of its Q2 2021 financial reports. The company is keen to set the stage for its operations once Covid-19 restrictions lift. Investors are hopeful that management will execute their strategy, resulting in gains in shareholder value.

  • KE Holdings Inc. (BEKE) Stock Trends Lower Following Disclosure of Q2 2021 Financial Reports

    KE Holdings Inc. (BEKE) Stock Trends Lower Following Disclosure of Q2 2021 Financial Reports

    KE Holdings Inc. (BEKE) stock prices were down by 5.15% as of the market closing on August 11th 2021. This brought the price per share down to USD$19.88% at the end of the trading day. Subsequent after hours trading saw the stock fall by 6.24%, bringing it down to USD$18.64.

    BEKE Stock’s GTV Reports

    The second quarter of fiscal 2021 saw BEKE stock report a gross transaction value of USD$189.1 billion, representing a year-over-year increase of 22.2%. the GTV of existing home transactions came out to USD$101 billion, representing a year-over-year increase of 11.7%. GTV of new home transactions came out to USD$77.2 billion, up 32.3% from the prior year quarter. BEKE reported GTV of emerging and other services at USD$10.9 billion for the quarter, representing an 80.5% increase from Q2 2020.

    Scope of Existing Business

    BEKE stock reported operating a total of 52,868 stores as of June 30th 2021, 25.1% higher than the number of stores in operation as of a year ago. The company had a total of 548,600 agents as of June 30th 2021, representing a 20.3% increase from the prior year quarter. Mobile monthly active users averaged 52.1 million for the quarter, up 33.5% from the MAU reported for Q2 2020.

    BEKE Stock’s Quarterly Developments

    The quarter saw BEKE stock continue the upgrading of its Agent Specialization Strategy. The company also continued to facilitate the expansion of its professional contract service centers to 287 locations. The company continued to enrich its new home related online content. To this end, it made steady progress with its ‘New Home Business Conduct Improvement Plan’.

    Steps Towards Growth

    Concurrently, BEKE stock sustained the momentum of its rapid growth in emerging services over the course of the quarter. The company’s proposed acquisition of Shengdu is expected to accelerate its home renovation business development. BEKE also launched the Home SaaS system 1.0 to further enhance the end-to-end standardization and digitalization of the company’s home renovation services. The company expects housing to be an increasingly important focal point for people’s livelihoods, on the basis of there always being long-term demand for better living by consumers.

    Future Outlook for BEKE Stock

    BEKE stock is poised to recover from its recent fluctuations in shareholder value as the pandemic rages on. The company is keen to set the stage for the normalization of the economy in a post-pandemic landscape. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. Investors hope this will result in significant and sustained increases in shareholder value.

  • Nano-X Imaging Ltd. (NNOX) Stock Plummets Following Disclosure of Q2 2021 Financial Report and Newest Acquisitions

    Nano-X Imaging Ltd. (NNOX) stock prices were down by a significant 13.98% shortly after market trading commenced on August 10th 2021, bringing the price per share down to USD$25.91 early on in the trading day.

    NNOX Stock’s New Acquisitions

    August 10th 2021 saw NNOX stock announce its entry into two agreements. These agreements are intended to facilitate the creation of a globally connected, end-to-end radiology solution. The company entered into an agreement with leading medical artificial intelligence developed, Zebra Medical Vision. The agreement will be an all-stock transaction for USD$100 million upfront, as well as another USD$100 million tied to the reaching of prespecified milestones.

    Acquisition of USARAD

    The company also announced entering into a binding letter of intent to acquire USARAD and Medical Diagnostics Web. Together, the two operate a global network of more than 300 radiologists. Total consideration for the acquisition is USD$30 million. Of this, USD$21 million will be in the form of shares of NNOX stock, while USD$9 million will be in cash.

    Changing the Radiology Landscape

    The company’s expansion of accessibility in regard to medical imagine solves on of the roadblocks to population health management. This access is granted through the widespread deployment of the company’s Nanox.ARC. The world has a shortage of trained radiologists, which presents a substantial bottleneck in the imaging process. Nanox.ARC, in conjunction with the company’s recent acquisitions, will allow NNOX stock to support their systems with a large network of radiologists empowered with highly advanced AI algorithms.

    Scope of NNOX Stock

    This end-to-end, globally connected medical imaging solution will facilitate the provision of rapid interpretation of medical images. This will translate images into actionable medical interventions, while also representing a step toward the company’s vision. This vision is in regard to the provision of true preventative health care in the nation’s population. The company continues to develop its multi-source Nanox.ARC, with the last quarterly update including news of a 510(k) submission. The 510(k) form submitted to the U.S Food and Drug Administration was for the first version of multi-source Nanox.ARC. The company is doubling down on its goal of deploying 15,000 by the end of 2024.

    Future Outlook for NNOX Stock

    Armed with its recent new acquisitions, NNOX stock is poised to capitalize on the expanded scope of opportunities ahead of it. The company is keen to take measures to recover from the sharp dip in shareholder value. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This will, hopefully, result in sustained and significant increases in shareholder value.

  • Katapult Holdings Inc. (KPLT) Stock Plummets Following Disclosure of Financial Reports for Q2 2021

    Katapult Holdings Inc. (KPLT) stock prices were down by a massive 48.51% shortly after market trading commenced on August 10th, 2021, bringing the price per share down to USD$5.01 early on in the trading day.

    Q2 2021 Financial Reports

    August 10th, 2021 saw the e-commerce focused financial tech company announce its Q2 2021 financial report, for the period ended June 30th, 2021. The company reported promising financial performance over the course of the quarter. KPLT stock is confident in its strategy to deliver value to its business partners and its consumers. The company has reported a growing interest in the business by merchants, e-commerce platforms, and prime partners.

    KPLT Stock’s Total Revenue

    The second quarter of fiscal 2021 saw the company announce USD$77.5 million in total revenue. This is a 27.6% increase from the total revenue reported for the prior-year quarter. Revenue from the start of the fiscal year came out to USD$158.1 million as of June 30th, 2021. This is up from the USD$103.6 million reported in the prior-year period, representing a 52.6 year-over-year increase.

    Gross Originations

    Gross Originations for the second quarter of fiscal 2021 were reported at USD$64.4 million. This was a 1% increase from the numbers reported in the first quarter of fiscal 2021. The Q2 2021 reports were, however, 17% lower than the second quarter of fiscal 2020. KPLT stock’s compound annual growth rate for Gross Originations was 75.4% from the second quarter of 2019 through to Q2 2021.

    KPLT Stock’s Additional Finances

    Despite the company onboarding 31 new retailers, KPLT reported a net loss of USD$8.1 million net loss for Q2 2021. This is a significant reduction from the net income of USD$5.1 million reported in the second quarter of 2020. Adjusted net income was reported at USD$1.5 million for the quarter. This was a 70.4% reduction from the USD$5.2 million reported in the second quarter of fiscal 2020. Adjusted EBITDA came out to USD$3.9 million, down 64.8% from the USD$11.1 million in Q2 2020.

    Future Outlook for KPLT Stock

    Having had to revoke guidance because of the ongoing uncertainty resulting from the pandemic, KPLT is poised to set the stage for its recovery. The company is keen to leverage its resources to usher in a recovery to the hit its shareholder value has taken. Investors are hopeful that management will be able to facilitate significant and sustained increases in shareholder value.