META MATERIALS Reports Third Quarter Earnings Results for FY2023
November 22, 2023
🌥️Earnings Overview
On November 13 2023, META MATERIALS ($NASDAQ:MMAT) released their earnings results for the third quarter of FY2023, ending on September 30 2023. The company reported total revenue of USD 2.2 million, a decrease of 10.6% compared to the same period in the prior year. Furthermore, their net income was USD -8.7 million, which marked an improvement from last year’s -24.5 million.
Price History
The opening price of the company stock was $0.1 and it closed at $0.1, a decrease of 9.8% from its previous closing price of 0.1. This marks a significant drop in the company stock price, likely indicative of investors’ decreased confidence in the company’s performance.
However, the gross profits have increased by 3% indicating that the company is still able to make a profit despite a decrease in revenue. These investments have been made in order to keep META MATERIALS competitive in the industry and to create new products that can meet customer demands. On one hand, the company’s gross profits are increasing but on the other hand, its operating expenses and stock prices have decreased significantly. Shareholders will be hoping that the company can make the necessary changes to improve its performance and regain investor confidence. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Meta Materials. More…
| Total Revenues | Net Income | Net Margin |
| 7.09 | -336.27 | -976.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Meta Materials. More…
| Operations | Investing | Financing |
| -50.81 | -6.29 | 36.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Meta Materials. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 121.75 | 28.42 | 0.19 |
Key Ratios Snapshot
Some of the financial key ratios for Meta Materials are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 124.4% | – | -4841.6% |
| FCF Margin | ROE | ROA |
| -936.6% | -221.6% | -176.2% |
Analysis
At GoodWhale, we have conducted an analysis of META MATERIALS‘ fundamentals. The Star Chart shows that META MATERIALS is strong in growth, medium in asset, and weak in dividend and profitability. Additionally, our health score was only 3 out of 10 due to the company’s cashflows and debt. This indicates that META MATERIALS may not be able to pay off its debt or fund future operations. Based on our analysis, we classify META MATERIALS as a ‘rhino’ – meaning it has achieved moderate revenue or earnings growth. Investors who are seeking moderate growth, such as long-term strategic or passive investors, may be interested in this company. More…
Peers
Its competitors include Rogers Corp, Shenmao Technology Inc, Flex Ltd.
– Rogers Corp ($NYSE:ROG)
Rogers Corp is a materials science company that focuses on developing and manufacturing materials for use in advanced electronics applications. The company has a market cap of 1.97B as of 2022 and a Return on Equity of 5.3%. Rogers Corp’s materials are used in a variety of applications, including smartphones, tablets, laptops, and other electronic devices. The company’s products are also used in the automotive, aerospace, and defense industries.
– Shenmao Technology Inc ($TWSE:3305)
Shenmao Technology Inc is a global leader in the design, manufacture, and sale of advanced packaging solutions for the semiconductor and electronics industries. The company has a market capitalization of $5.23 billion and a return on equity of 15.74%. Shenmao’s products are used in a wide range of applications, including smartphones, computers, servers, and storage devices. The company’s products are manufactured at its facilities in China, Taiwan, and the United States.
– Flex Ltd ($NASDAQ:FLEX)
Flex Ltd is a leading manufacturer of electronic components and assemblies for original equipment manufacturers and contract manufacturers. The company has a market cap of 8.88B as of 2022 and a return on equity of 19.66%. Flex Ltd operates in more than 30 countries and offers a broad range of services, including design, engineering, manufacturing, and supply chain management. The company’s products are used in a variety of industries, including automotive, consumer electronics, healthcare, and industrial.
Summary
META MATERIALS recently reported their financial results for the third quarter of FY2023, ending on September 30 2023. Total revenue was USD 2.2 million, a 10.6% year-on-year decrease. Net income reported was USD -8.7 million, an improvement from last year’s losses of -24.5 million.
In terms of investing analysis, the company’s third quarter results may not be encouraging as the decreased revenue and net income losses could potentially have an adverse effect on stock prices and investor sentiment. Investors should watch for any developments in the company’s business and financial performance before considering investing in META MATERIALS.
Related Posts
Recent Posts
