CHARGE ENTERPRISES Reports 28.8% Decrease in Revenue for FY2023 Q3
November 22, 2023
🌥️Earnings Overview
CHARGE ENTERPRISES ($NASDAQ:CRGE) reported their earnings results for FY2023 Q3 on November 8 2023, displaying a total revenue of USD 132.3 million, 28.8% less than the year before. Net income, in comparison, was USD -7.0 million, compared to the prior year’s USD 14.4 million.
Analysis
GoodWhale’s Star Chart analysis of CHARGE ENTERPRISES revealed that the company is classified as a ‘cheetah’, meaning it achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company could attract investors that are drawn to its fast-growing potential, such as venture capitalists, growth investors, or high-risk high-reward types of investors. CHARGE ENTERPRISES is strong in growth, medium in asset and weak in dividend and profitability according to the Star Chart. Furthermore, GoodWhale’s health score for CHARGE ENTERPRISES is 4/10, suggesting intermediate health with regard to its cashflows and debt. This indicates that CHARGE ENTERPRISES might be able to sustain future operations in times of crisis. Overall, it is important for potential investors to consider the risks and rewards of investing in CHARGE ENTERPRISES. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Charge Enterprises. More…
| Total Revenues | Net Income | Net Margin |
| 641.37 | -48.75 | -7.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Charge Enterprises. More…
| Operations | Investing | Financing |
| 18.78 | -2.33 | 0.08 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Charge Enterprises. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 187.52 | 143.95 | 0.2 |
Key Ratios Snapshot
Some of the financial key ratios for Charge Enterprises are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -5.5% |
| FCF Margin | ROE | ROA |
| 2.9% | -50.0% | -11.7% |
Peers
The Company is engaged in the business of providing technology and marketing solutions for the electric vehicle industry. Charge Enterprises Inc has a strategic alliance with Ascentech KK, Quest Co Ltd, and Ntegrator International Ltd.
– Ascentech KK ($TSE:3565)
Ascentech KK is a Japanese company with a market cap of 6.79B as of 2022. The company has a return on equity of 17.08%. Ascentech KK is involved in the manufacturing of semiconductor devices and other electronic components.
– Quest Co Ltd ($TSE:2332)
Since its establishment in 2001, Quest has been a leading provider of end-to-end enterprise software solutions. The company has a market cap of 6.02B as of 2022 and a ROE of 11.79%. Quest provides a comprehensive suite of solutions that helps organizations automate their business processes, improve their operational efficiency, and optimize their customer experience. The company’s products and services are used by more than 10,000 customers in over 100 countries.
Summary
CHARGE ENTERPRISES reported its earnings results for FY2023 Q3 on November 8. Total revenue was reported at USD 132.3 million, a decrease of 28.8% year-over-year. Net income was reported at a loss of USD -7.0 million, compared to a net income of USD 14.4 million in the prior year.
This indicates that there is potential risk associated with investing in CHARGE ENTERPRISES. Investors should do further research into the company’s financial stability, competitive landscape, and management track record before committing their capital.
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