Overview
Mawson's preliminary Q3 revenue falls 8% yr/yr, missing analyst expectations
Company's Q3 gross profit rises 59% from 35% last year
Mawson Q3 net loss down 88% yr/yr due to reduced costs and expenses
Outlook
Company did not provide specific future guidance
Result Drivers
COST REDUCTION - Mawson's Q3 cost of revenues decreased 42% yr/yr, aiding gross profit margin improvement
PROFIT SHARE AGREEMENT - New profit share agreement contributed to increased gross profit in Q3
EXPENSE MANAGEMENT - Reduction in operating and non-operating expenses lowered Q3 net loss
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $11.20 mln | $13.70 mln (1 Analyst) |
Q3 Gross Profit | $6.60 mln |
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the it services & consulting peer group is "buy."
Press Release: ID:nGNX29zVn0
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)