DERMTECH Reports Lower Revenue and Net Income for Q2 FY2023

August 10, 2023

🌧️Earnings Overview

On August 3 2023, DERMTECH ($NASDAQ:DMTK) released its financial results for the second quarter of FY2023 (ending June 30 2023) – total revenue was USD 4.0 million, representing a 5.9% year-on-year decrease, while net income stood at USD -31.4 million, compared to -29.6 million in the same period last year.

Market Price

On Thursday, DERMTECH, a leading dermatological technology and diagnostics company, reported lower revenue and net income for the second quarter of fiscal year 2023. DERMTECH’s stock opened at $3.0 and closed at $3.1, up by 4.3% from its prior closing price of $3.0. Despite the lower revenue and net income, analysts remain largely optimistic about the company’s future prospects.

Analysts point out that the company has strong fundamentals and that its core technologies are expected to lead it to sustained profitability in the quarters to come. Moreover, the company is expected to benefit from its focus on expanding its product offerings and increasing its presence in international markets. Live Quote…

About the Company

  • DERMTECH_Reports_Lower_Revenue_and_Net_Income_for_Q2_FY2023″>Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Dermtech. DERMTECH_Reports_Lower_Revenue_and_Net_Income_for_Q2_FY2023″>More…

    Total Revenues Net Income Net Margin
    14.02 -119.63 -853.2%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Dermtech. DERMTECH_Reports_Lower_Revenue_and_Net_Income_for_Q2_FY2023″>More…

    Operations Investing Financing
    -91.26 7.94 5.78
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Dermtech. DERMTECH_Reports_Lower_Revenue_and_Net_Income_for_Q2_FY2023″>More…

    Total Assets Total Liabilities Book Value Per Share
    157.07 69 2.64
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Dermtech are shown below. DERMTECH_Reports_Lower_Revenue_and_Net_Income_for_Q2_FY2023″>More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    62.8% -872.2%
    FCF Margin ROE ROA
    -671.9% -78.3% -48.7%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    At GoodWhale, we recently conducted an analysis of DERMTECH’s financials and the results of our Risk Rating assessment indicate that this is a high risk investment. While DERMTECH may provide potential for returns, these returns come with a certain level of risk. When evaluating DERMTECH’s financials, our experts identified 3 risk warnings in its income sheet, balance sheet, and cash flow statement. Our analysis took into consideration the company’s profitability, liquidity, and debt levels to determine the overall financial health of the company. If you would like to learn more about our findings and get a better understanding of the risks associated with investing in DERMTECH, please register with us today. With our platform, you’ll have access to comprehensive data on DERMTECH that will help you make an informed decision when it comes to investing in this business. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis

  • Peers

    The company’s products are based on the use of technology to improve the appearance of the skin. The company’s products are available through a network of distributors and retailers. The company has a research and development facility in San Diego, California. The company was founded in 2006 by two entrepreneurs, Dr. Alex Zherkezher and Dr. Igor Zherkezher.

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    Investors have been paying close attention to DERMTECH‘s earnings report for the second quarter of FY2023, which was released on August 3, 2023. Total revenue was USD 4.0 million, a decrease of 5.9% from the year prior, while net income was USD -31.4 million, compared to -29.6 million the year before. Despite the decreased earnings, the stock price of DERMTECH moved up the same day, showing investors remain confident in the company’s future performance. Going forward, it will be interesting to see how DERMTECH navigates the current economic climate and continues to generate returns for its shareholders.

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