Sweden's Net Insight Q3 sales drop 29%, posts net loss
Sweden's Net Insight Q3 sales drop 29%, posts net loss
Overview
Sweden live media transport firm's Q3 net sales fell 29% yr/yr to SEK 103.9 mln
Company posted Q3 operating loss and net loss, citing continued financial weakness
Gross margin improved sequentially, driven by higher share of software revenue
Outlook
Net Insight says focus remains on converting commercial opportunities into revenue and recurring business
Company sees continued commercial progress in both Media and Time Synchronization segments
Net Insight highlights expansion in Media and Time Synchronization with new product launches and customers
Result Drivers
SOFTWARE REVENUE - Co said improved gross margin was driven by higher share of software revenue
MEDIA OFFERING EXPANSION - Co continued expansion of Media offering with new product launches, including Nimbra 1020G
TIME SYNCHRONIZATION CUSTOMERS - Co expanded Time Synchronization business with two new customers in defense and data center segments
Company press release: ID:nMFN3YC832
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Miss | SEK 103.90 mln | SEK 117.80 mln (1 Analyst) |
Q3 Loss Per Share |
| SEK 0.02 |
|
Q3 Net Loss |
| SEK 8 mln |
|
Q3 EBIT |
| -SEK 5.10 mln |
|
Q3 EBIT Margin |
| -4.90% |
|
Analyst Coverage
Wall Street's median 12-month price target for Net Insight AB is SEK3.00, about 26.8% above its October 28 closing price of SEK2.37
The stock recently traded at 4,316 times the next 12-month earnings vs. a P/E of 29 three months ago
Reuters Recommended Reads
Oct 27 - Sweden's Assa Abloy slightly beats Q3 sales estimates on strength in Americas and EMEIA divisions
Oct 28 - Sweden's Acast Q3 sales rise 25% on US growth
Oct 27 - Sweden's Storytel Q3 sales rise 16% as subscribers grow
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)