By Joe Hoppe
Xeros Technology Group PLC said Wednesday that it expects its 2022 loss to be wider than previously guided, largely due to the timing of commercial milestone payments and as a result of some minor restructuring.
The U.K. provider of water-saving and filtration technologies said it expects its adjusted loss before interest, taxes, depreciation and amortization to be 5%-10% wider than prior guidance. It didn't provide its own expectations but provided a market consensus of adjusted Ebitda loss of 6.8 million pounds ($8.2 million).
The company said the restructuring is expected to reduce its cash run rate.
Shares at 1035 GMT were down 0.35 pence, or 7.1%, at 4.55 pence.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
February 08, 2023 05:43 ET (10:43 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.