Sat. Jun 22nd, 2024
Viomi Technology’s Full Year 2023 Earnings Fall Below Expectations

Viomi Technology (NASDAQ: VIOT) recently released its full year 2023 financial results, showing a decline in revenue and a narrowed net loss compared to the previous fiscal year. The company’s 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.

When considering any investment, it’s important to be aware of potential risks involved with Viomi Technology. The company has been flagged with two warning signs that investors should be aware of before making any decisions regarding their stock holdings or investments into this sector. Despite this news, we encourage our readers to conduct further research on their own before making any investment decisions based on these findings alone.

It’s worth noting that this article is based on historical data and analyst forecasts alone and should not be considered as financial advice. We aim to provide unbiased analysis driven by fundamental data but may not include recent company announcements or qualitative information.

Simply Wall St does not hold positions in any mentioned stocks.

Overall, investors should carefully consider their investment decisions when investing in emerging technology companies such as Viomi Technology (VIOT). It’s always recommended to conduct thorough research on a company before making any significant investment decisions.

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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