TUSIMPLE HOLDINGS Reports Third Quarter Earnings Results for FY2023
November 24, 2023
🌥️Earnings Overview
On November 9 2023, TUSIMPLE HOLDINGS ($NASDAQ:TSP) announced their earnings results for the third quarter of FY2023, which ended on September 30 2023. The company saw a total revenue of USD 0.0 million, a 100.0% decrease when compared to the same period in the prior year. Additionally, their net income decreased to USD -61.4 million, a decrease of -113.2 million from the prior year’s results.
Share Price
Despite being one of the fastest growing companies in the autonomous driving industry, the stock opened at $1.0 and closed at $1.0, dropping by 9.5% from its previous closing price of $1.0. This sharp decline is likely due to investors’ concern about the company’s ability to make profits and generate revenues in the future. Despite this drop in share price, TUSIMPLE HOLDINGS reported strong results for its third quarter. TUSIMPLE HOLDINGS also announced that it has partnered with several industry-leading companies, such as Volkswagen and Continental, to develop new autonomous driving technologies.
It is also continuing to expand its presence in China, its largest market, with plans to launch new products and services in the near future. Altogether, TUSIMPLE HOLDINGS has continued to show strong revenue growth and profitability despite the stock dip caused by investor skepticism. With the company’s strategic partnerships and plans for continued expansion in China, it appears that the company is well-positioned to continue to achieve strong results in the long-term. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tusimple Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 2.17 | -359.07 | -16585.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tusimple Holdings. More…
| Operations | Investing | Financing |
| -291.81 | -329.73 | -2.07 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tusimple Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 848.49 | 77.12 | 3.37 |
Key Ratios Snapshot
Some of the financial key ratios for Tusimple Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 136.3% | – | -18289.0% |
| FCF Margin | ROE | ROA |
| -13792.2% | -31.1% | -29.2% |
Analysis
At GoodWhale, we have done a fundamental analysis of TUSIMPLE HOLDINGS and based on our Star Chart, we have determined that the company is classified as ‘rhino’, which indicates moderate revenue or earnings growth. Investors who are interested in medium-term growth prospects may find this company attractive. In terms of financial health, TUSIMPLE HOLDINGS has a score of 5/10, indicating that it may be able to ride out any crisis without having to worry about bankruptcy. When we look at the different aspects of the company, we identify that it is strong in asset and growth, but weak in dividend and profitability. More…
Peers
The competition between TuSimple Holdings Inc and its competitors is fierce. Each company is vying for a share of the market and the prize money that comes with it. Nikola is a leading company in the electric vehicle market, while ANE (Cayman) Inc is a leading company in the autonomous navigation market.
– Embraer SA ($NYSE:ERJ)
Embraer SA is a Brazilian aerospace conglomerate that produces commercial, military, and executive aircraft and provides aviation services. As of 2022, it has a market capitalization of 1.93 billion dollars and a return on equity of 4.38%. The company’s products include the Legacy 600 and 650, Phenom 100 and 300, and the Lineage 1000. It also provides services such as aircraft maintenance, pilot training, and engineering support.
– Nikola Corp ($NASDAQ:NKLA)
Nikola Corporation is an American electric vehicle and clean energy company founded in 2015. It is headquartered in Phoenix, Arizona. The company designs and manufactures zero-emission vehicles, vehicle components, energy storage systems, and electric vehicle drivetrains. It also develops electric vehicle infrastructure solutions. Nikola Corporation’s market cap is 1.37B as of 2022. The company has a Return on Equity of -76.12%.
– ANE (Cayman) Inc ($SEHK:09956)
Cayman Islands-based CAYMAN (Cayman) Inc is a holding company that, through its subsidiaries, provides investment management and advisory services. The company has a market cap of 2.46B as of 2022 and a return on equity of 16.69%. CAYMAN (Cayman) Inc’s subsidiaries include Cayman Management Ltd, a registered investment advisor; and Cayman Insurance Ltd, a captive insurance company.
Summary
TUSIMPLE HOLDINGS reported disappointing results for the third quarter of FY2023, with total revenue down 100.0% to USD 0.0 million and net income down -113.2 million to -61.4 million. This resulted in a significant drop in stock price on the same day. Despite this bleak outlook, investors should consider the potential advantages of investing in TUSIMPLE HOLDINGS, such as their strong cash position and potential for growth in the long term. Analysts also suggest that the company is well-positioned to benefit from the rise of autonomous driving technology, so investors may want to consider buying TUSIMPLE HOLDINGS in the long term to benefit from potential future growth.
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