CLEARPOINT NEURO Announces Q2 FY 2023 Earnings Results on August 8 2023
August 26, 2023
🌥️Earnings Overview
On August 8 2023, CLEARPOINT NEURO ($NASDAQ:CLPT) announced its financial results for the second quarter of fiscal year 2023, which concluded on June 30 2023. Compared to the same period in the prior year, total revenue for the quarter had increased by 14.4%, amounting to USD 6.0 million. However, the net income for the quarter was USD -7.0 million, a decrease from the figure of -4.3 million the prior year.
Price History
On Tuesday, August 8 2023, CLEARPOINT NEURO announced its Q2 FY 2023 earnings results. The stock opened at $6.5 but closed at $6.4, a decrease of 2.3% from its previous closing price of $6.6. This marked a significant drop in the company’s stock value compared to the same period last year. CLEARPOINT NEURO is a biotechnology company that develops and commercializes medical devices and diagnostics based on its proprietary technology platform. Despite the current economic downturn, CLEARPOINT NEURO has remained profitable over the last two quarters and is expected to continue to grow in the future.
Overall, CLEARPOINT NEURO’s Q2 FY 2023 earnings results were mixed. While the company experienced a drop in stock value and reported a net loss for the quarter, it also experienced some positive developments. The company has remained profitable over the last two quarters and is expected to continue to do so in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Clearpoint Neuro. More…
| Total Revenues | Net Income | Net Margin |
| 21.7 | -20.83 | -96.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Clearpoint Neuro. More…
| Operations | Investing | Financing |
| -17.67 | 20.49 | 0.12 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Clearpoint Neuro. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 47.64 | 20.23 | 1.12 |
Key Ratios Snapshot
Some of the financial key ratios for Clearpoint Neuro are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 22.8% | – | -97.4% |
| FCF Margin | ROE | ROA |
| -88.4% | -44.0% | -27.7% |
Analysis
GoodWhale has conducted an analysis of CLEARPOINT NEURO‘s wellbeing. The Star Chart shows that CLEARPOINT NEURO is strong in asset and growth, but weak in dividend and profitability. Based on this data, we have classified CLEARPOINT NEURO as a ‘cheetah’, meaning it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Considering the company’s cash flows and debt, we anticipate that investors looking for high-growth investments would find CLEARPOINT NEURO an attractive option. However, with a low health score of 3/10, the company is less likely to safely ride out any crisis without the risk of bankruptcy. More…
Peers
The company’s competitors include SI-BONE Inc, Heart Tronics Inc, Osprey Medical Inc.
– SI-BONE Inc ($NASDAQ:SIBN)
SIS-BONE Inc. is a medical device company that develops, manufactures, and markets orthopedic implants and related surgical instruments used in the treatment of patients with musculoskeletal disorders. The company has a market cap of $435.33M as of 2022 and a Return on Equity of -33.15%.
– Heart Tronics Inc ($OTCPK:HRTT)
Heart Tronics Inc is a company that manufactures and sells medical devices. The company has a market capitalization of $15.68 million and a return on equity of 110.55%. The company’s products include cardiac monitors, pacemakers, and defibrillators. The company sells its products to hospitals, clinics, and physicians.
Summary
For the second quarter of fiscal year 2023, CLEARPOINT NEURO reported total revenue of USD 6.0 million, representing a 14.4% increase year-on-year.
However, net income for the quarter came in at USD -7.0 million, a decrease from the prior year’s -4.3 million. This could be a sign of decreased efficiency and profitability, which could be a cause for concern for investors. Nevertheless, the company’s year-on-year revenue increase indicates positive growth potential. Investors should be aware of this potential and continue to watch the company for signs of a rebound in its profits.
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