Overview
Allurion Q3 revenue of $2.7 mln beats analyst expectations despite a year-over-year decline
Company reduced operating expenses by 29% and operating loss by 22% year-over-year
Allurion exchanged debt for convertible preferred equity and secured $5 mln private placement
Outlook
Company did not provide specific financial guidance for future quarters or the full year
Result Drivers
REVENUE DECLINE - Year-over-year revenue decrease due to distributor transitions and lower sales and marketing investments post-restructuring
COST REDUCTION - Operating expenses and losses reduced significantly due to restructuring initiatives
BALANCE SHEET STRENGTHENING - Debt exchanged for convertible preferred equity and $5 mln private placement secured
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $2.66 mln | $2.13 mln (3 Analysts) |
Q3 Gross Profit | $1.30 mln | ||
Q3 Income from Operations | -$9.63 mln | ||
Q3 Operating Expenses | $10.93 mln | ||
Q3 Pretax Profit | -$11.88 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Allurion Technologies Inc is $6.00, about 75.2% above its November 11 closing price of $1.49
Press Release: ID:nBw1Nxwwha
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(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.)