SINGULAR GENOMICS SYSTEMS Reports Second Quarter Fiscal Year 2023 Earnings Results

August 13, 2023

🌥️Earnings Overview

Singular Genomics Systems ($NASDAQ:OMIC) released their financial report for the second quarter of fiscal year 2023, concluding on June 30 2023. Compared to the same period the previous year, total revenue had a growth to USD 0.5 million, however, net income decreased to USD -25.6 million.

Price History

The stock opened at $0.7 and closed at $0.7, representing a 4.0% decrease from the previous day’s close at 0.7. This was a significant dip from the company‚Äôs previous closing price of 0.7 and investors reacted negatively to the news. The report highlighted a number of areas in which the company had improved, including higher sales figures, increased operational efficiency, and a reduction in costs.

However, the financial markets responded with skepticism, citing potential risks from the changing economic landscape. In spite of the negative market sentiment, SINGULAR GENOMICS SYSTEMS was able to report positive growth in key areas such as revenue and net income. This shows that the company has managed to remain resilient in the face of difficult economic conditions. The report also indicated that the company is continuing to make strategic investments in its product development efforts, which should drive future growth. While the stock price was down from the previous day’s close, the company is still showing positive signs of progress and growth. Investors may be wise to keep an eye on the company’s performance going forward as it continues to strive for success in the current economic environment. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for OMIC. More…

    Total Revenues Net Income Net Margin
    2.13 -94.1 -4411.7%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for OMIC. More…

    Operations Investing Financing
    -79.64 -0.09 1.4
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for OMIC. More…

    Total Assets Total Liabilities Book Value Per Share
    283.98 65.59 3.03
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for OMIC are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    -4365.6%
    FCF Margin ROE ROA
    -3893.5% -25.4% -20.5%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    GoodWhale recently took a look at the wellbeing of SINGULAR GENOMICS SYSTEMS. Our analysis via the Star Chart showed that SINGULAR GENOMICS SYSTEMS is strong in asset growth and weak in dividend and profitability. Based on these results, SINGULAR GENOMICS SYSTEMS is classified as a ‘cheetah’, a type of company which achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given this rating, what type of investors may be interested in such company? Investors with a higher risk appetite may be more likely to invest in SINGULAR GENOMICS SYSTEMS, as it offers the potential for higher returns through its growth opportunities. Furthermore, its intermediate health score of 4/10 with regard to its cashflows and debt, suggests that the company is likely to safely ride out any crisis without the risk of bankruptcy. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis




  • Peers

    In recent years, the competition between Singular Genomics Systems Inc and its competitors has intensified, as the market for genomic sequencing and related services has grown. While each company has its own strengths and weaknesses, all are vying for a share of this rapidly growing market.

    – Applied BioCode Corp ($TWSE:6598)

    Applied BioCode Corp is a biotechnology company that develops and markets molecular diagnostic products. The company has a market cap of 2.16B as of 2022 and a Return on Equity of -13.74%. Applied BioCode Corp’s products are used in a variety of applications, including the detection of infectious diseases, foodborne pathogens, and genetic disorders. The company’s products are sold to both the research and clinical markets.

    – BibbInstruments AB ($LTS:0GIA)

    Bibb Instruments AB is a Swedish company that manufactures and sells scientific instruments. The company has a market cap of 9.29M as of 2022 and a Return on Equity of -18.23%. Bibb Instruments AB manufactures and sells a range of scientific instruments, including microscopes, spectrophotometers, and chromatographs. The company also offers services and support for its products.

    – Repro-Med Systems Inc ($NASDAQ:KRMD)

    Repro-Med Systems Inc is a medical device company that develops, manufactures, and markets infusion systems for the patient-controlled administration of drugs and fluids. Its products include the Freedom60 syringe pump, the RMS precision needle, and the RMS catheter securement device. The company was founded in 1984 and is headquartered in Yorba Linda, CA.

    Summary

    Investors responded negatively to SINGULAR GENOMICS SYSTEMS’ second quarter earnings report for the fiscal year 2023. Despite total revenue increasing to USD 0.5 million, net income decreased to USD -25.6 million. This resulted in the stock price dropping the same day. It is important for investors to consider whether this decrease in income reflects a temporary drop or a long-term trend, and whether SINGULAR GENOMICS SYSTEMS is still a viable investment option.

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