LUMIRADX LIMITED Reports 173.7% Decrease in Total Revenue for FY2022 Q4
March 28, 2023
Earnings Overview
LUMIRADX LIMITED ($NASDAQ:LMDX) announced its financial results for the fourth quarter of FY2022 ending December 31 2022 on March 21 2023. Net income for the quarter totaled USD 41.1 million, a decrease of 65.2% from the same period a year ago. Year-over-year, total revenue fell by 173.7% to USD -102.2 million.
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About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Lumiradx Limited. More…
| Total Revenues | Net Income | Net Margin |
| 254.48 | -449.38 | -176.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lumiradx Limited. More…
| Operations | Investing | Financing |
| -162.11 | -24.98 | 165.29 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Lumiradx Limited. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 441.01 | 553.12 | 0.06 |
Key Ratios Snapshot
Some of the financial key ratios for Lumiradx Limited are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 122.4% | – | -120.6% |
| FCF Margin | ROE | ROA |
| -73.5% | 409.1% | -43.5% |
Stock Price
On Tuesday, LUMIRADX LIMITED reported their financial results for the fourth quarter of FY2022, indicating a 173.7% decrease in total revenue compared to the same period a year earlier. Consequently, shares of LUMIRADX LIMITED opened at $0.9 and closed at $0.9 on the day of the report release, representing a small 0.1% decrease from the prior day’s closing price of 0.9. Many of LUMIRADX LIMITED’s customers have been forced to postpone or cancel orders due to the uncertain economic climate, resulting in a sharp drop in revenues. This has also contributed to the company’s overall reduced revenues.
Although the news of a 173.7% decrease in total revenues was certainly not well-received by investors, the company’s management team remains optimistic about its future prospects. They have outlined a series of strategies to improve operational efficiency and increase sales of their products, which they hope will help the company return to growth in FY2023. Live Quote…
Analysis
At GoodWhale, we are proud to provide our customers with the most comprehensive analysis of LUMIRADX LIMITED‘s financials. After a thorough review of the company’s books, our Risk Rating system deems it a medium risk investment. That being said, our GoodWhale system has detected two risk warnings in the company’s balance sheet and financial journal. It is important to note that these warnings are not indicative of an immediate financial risk, but more of a flag to be aware of when it comes to investing in the company. If you register with us, you can access our full Risk Rating report to get a comprehensive understanding of LUMIRADX LIMITED’s financial performance. More…
Peers
It is a major player in the healthcare industry, competing with other major players such as ConvaTec Group PLC, Rainbow Childrens Medicare Ltd, and Radius Residential Care Ltd. These companies offer a range of products and services to meet the needs of the healthcare industry, and it is up to LumiraDx Ltd to stay competitive in order to maintain its position.
– ConvaTec Group PLC ($LSE:CTEC)
ConvaTec Group PLC is a global medical technology company that develops, manufactures, and markets innovative medical products and services for wound care, ostomy care, continence and critical care, and infusion devices. The company has an impressive market capitalization of 4.77B as of 2023 and a Return on Equity of 4.96%, indicating its strong financial performance. The high market cap reflects investor confidence in the company’s ability to deliver consistent returns on investments and its long-term potential. Furthermore, the company’s impressive ROE indicates that it has been able to generate profits from its total shareholder equity.
– Rainbow Childrens Medicare Ltd ($BSE:543524)
Rainbow Childrens Medicare Ltd is a healthcare company that provides quality medical services to children. The company has a market capitalization of 72.75B as of 2023, and its Return on Equity (ROE) is 26.79%. This indicates that for every dollar of equity invested in the business, it generates 26.79 cents of earnings. Rainbow Childrens Medicare Ltd has a strong balance sheet and is well-positioned to take advantage of growth opportunities in the healthcare sector. The company is committed to providing quality healthcare services to its customers and strives to remain the leader in the industry.
– Radius Residential Care Ltd ($NZSE:RAD)
Radius Residential Care Ltd is a leading provider of residential care services for individuals and families in the United Kingdom. With a market cap of 88.22M as of 2023, the company has shown strong growth in terms of its market capitalization. The company has also achieved a strong return on equity (ROE) of 11.56%, indicating that the company is generating value for its shareholders. Radius Residential Care Ltd is committed to offering quality care and support to the people that rely on their services and continues to strive for excellence in the care industry.
Summary
LUMIRADX LIMITED has reported disappointing financial results for their Q4 of FY2022. Total revenue was down 173.7% from the same period last year, and net income was down 65.2%. This suggests a challenging environment for investors in the short-term.
As a result, investors should approach the stock cautiously and conduct careful research to assess the risk and potential reward of investing in the company. With an environment of uncertainty, investors should watch the company’s performance closely and monitor trends in the industry moving forward.
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