• Thu. May 30th, 2024

Viomi Technology’s Full Year 2023 Earnings Fall Below Expectations

Byeditor

Mar 26, 2024

Viomi Technology (NASDAQ: VIOT) reported its full year 2023 results, with key financial figures showing a decline in revenue and a narrowed net loss compared to the previous fiscal year. Revenue was CN¥2.49 billion, down 23% from FY 2022, while the net loss was CN¥84.7 million, which represented a 69% improvement from the previous year. Earnings per share (EPS) also showed improvement, with a loss of CN¥1.23 per share compared to CN¥3.97 in FY 2022.

Despite the improvements in net loss and EPS, both revenue and earnings missed analyst expectations by 12% and 140%, respectively. Looking ahead, the company is forecasting a 21% average annual revenue growth over the next two years, outpacing the 5.1% growth forecast for the Consumer Durables industry in the US. However, Viomi Technology’s shares are down 8.8% from the previous week, reflecting some investor concerns.

As with any investment, it’s important to consider the risks involved. Viomi Technology has been flagged with 2 warning signs that investors should be aware of. If you have any feedback or concerns about the content, you can reach out to us directly or email the editorial team at Simply Wall St. It’s worth noting that this article is based on historical data and analyst forecasts, and is not intended as financial advice. We aim to provide unbiased analysis driven by fundamental data, but it may not include the latest company announcements or qualitative information. Simply Wall St does not hold positions in any mentioned stocks.

By editor

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