MAINZ BIOMED NV ($NASDAQ:MYNZ) reported their financial results for the second quarter of FY2023, ending on June 30 2023. Total revenue for this period was USD 0.2 million, up 78.6% from the same quarter of the previous year. Net income for Q2 2023 was USD -8.2 million, an improvement from the previous year’s figure of -6.9 million.
MAINZ BIOMED NV reported its Q2 FY2023 earnings results on Tuesday. The stock opened at $3.1 per share and closed at the same price, down 3.1% from its previous closing price of $3.2. This decrease in stock value was affected by the company’s overall performance during Q2, which was lower than expected. The company attributed this increase to their cost-cutting initiatives and efficient operations management.
Despite the overall negative earnings results, MAINZ BIOMED NV remains confident in their ability to achieve their yearly goals and continue to drive growth in the coming quarters. They have already implemented several strategies which they believe will help them reach their objectives and reduce their losses in the future. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for MYNZ. More…
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Cash Flow Snapshot
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Balance Sheet Snapshot
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Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for MYNZ are shown below. More…
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Analysis – MYNZ Intrinsic Stock Value
At GoodWhale, we have performed an analysis of MAINZ BIOMED NV’s financials. We believe that the fair value of their share is around $12.2, calculated by our proprietary Valuation Line. This figure is nearly four times higher than their current stock price which is trading at $3.1, making the share 74.7% undervalued. More…
Risk Rating Analysis
Star Chart Analysis
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MAINZ BIOMED NV reported their second quarter FY2023 earnings, with total revenue at USD 0.2 million and net income of USD -8.2 million. This was a 78.6% increase in revenue from the same quarter last year, and an improvement in the net income results. The stock price reacted negatively to the earnings announcement, indicating that investors are not satisfied with the company’s performance. Analysts will continue to monitor MAINZ BIOMED NV’s financials in order to determine whether the current trend is sustainable or if it suggests underlying weaknesses in the company’s financial position.