NANOSTRING TECHNOLOGIES Reports 37.1% Increase in Revenue and Improved Net Income for Q2 FY 2023
August 7, 2023
☀️Earnings Overview
NANOSTRING TECHNOLOGIES ($NASDAQ:NSTG) reported that total revenue for the second quarter of FY 2023 ending June 30 2023 had increased by 37.1%, to USD 44.2 million year over year. Net income was USD -43.7 million, representing an improvement on the prior year’s figure of -39.2 million. The results were announced on August 3 2023.
Analysis
GoodWhale conducted an analysis of NANOSTRING TECHNOLOGIES‘s financials and based on the Star Chart, the company has a low health score of 2/10. This is due to their cashflows and debt, indicating that they are less likely to be able to pay off debt and fund future operations. NANOSTRING TECHNOLOGIES is classified as an ‘elephant’ type of company, meaning that it is rich in assets after deducting off liabilities. This type of company may be attractive to investors who are interested in asset strength, medium growth, and weak dividends and profitability. NANOSTRING TECHNOLOGIES is known to be strong in asset strength, medium in terms of growth, and weak in dividend and profitability offerings. Investors should be aware of these factors when considering investing in NANOSTRING TECHNOLOGIES. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nanostring Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 143.93 | -165.71 | -115.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nanostring Technologies. More…
| Operations | Investing | Financing |
| -133.08 | 119.93 | 2.01 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nanostring Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 288.99 | 310.45 | -0.45 |
Key Ratios Snapshot
Some of the financial key ratios for Nanostring Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.2% | – | -109.7% |
| FCF Margin | ROE | ROA |
| -109.1% | 2516.0% | -34.1% |
Peers
These companies are all working to develop new and improved methods for diagnosing and treating disease, and the competition between them is fierce. NanoString Technologies Inc has a strong product portfolio and a well-established customer base, but its competitors are quickly catching up. Only time will tell which company will come out on top in this competitive market.
– Quanterix Corp ($NASDAQ:QTRX)
Quanterix Corporation is a biotechnology company that develops and commercializes its proprietary Single Molecule Array technology for use in measurable biomarker analysis. The Company’s SMASH technology is a multiplexing technology that can be used to measure up to hundreds of proteins and other biomarkers in a single reaction. The Company’s products include Simoa HD-1 Analyzer, Simoa Focus Assay Kits, Simoa Control Kits and Simoa Reagents. Quanterix Corporation is headquartered in Lexington, Massachusetts.
– BibbInstruments AB ($LTS:0GIA)
Bibb Instruments AB is a Swedish company that manufactures and markets a range of scientific instruments. The company has a market capitalization of 9.27 million as of 2022 and a return on equity of -18.23%. Bibb Instruments AB is a leading manufacturer of scientific instruments used in research and development, quality control, and manufacturing processes. The company’s products are used in a variety of industries, including pharmaceuticals, food and beverage, cosmetics, and environmental testing.
– Eyebright Medical Technology (Beijing) Co Ltd ($SHSE:688050)
Eyebright Medical Technology (Beijing) Co Ltd is a leading provider of medical devices and solutions in China. The company has a market cap of 24.03B as of 2022 and a return on equity of 9.15%. Eyebright Medical Technology (Beijing) Co Ltd is a leading provider of medical devices and solutions in China. The company provides a wide range of medical devices and solutions for a variety of medical needs.
Summary
However, net income remained in the red at -$43.7 million, an improvement from the prior year’s figure of -$39.2 million. Despite these encouraging financial results, the stock price for the company moved down on the same day, suggesting a pessimistic outlook among investors. Those looking to invest in NANOSTRING TECHNOLOGIES should be aware of the company’s current financial standings and consider the possible risks associated with investing in such a volatile stock.
Related Posts
Recent Posts
