Viomi Technology’s Full-Year 2023 Financial Results Show Improvement in Net Loss, EPS but Miss Revenue and Earnings Expectations

Viomi Technology’s Full Year 2023 Earnings Fall Below Expectations

Viomi Technology (NASDAQ: VIOT) reported its full-year 2023 financial results, showing a decline in revenue and a narrowed net loss compared to the previous fiscal year. Revenue was CN¥2.49 billion, down 23% from FY 2022, while the net loss was CN¥84.7 million, which represented a 69% improvement from the previous year. Earnings per share (EPS) also showed improvement, with a loss of CN¥1.23 per share compared to CN¥3.97 in FY 2022.

Despite the improvements in net loss and EPS, both revenue and earnings missed analyst expectations by 12% and 140%, respectively. Looking ahead, the company is forecasting a 21% average annual revenue growth over the next two years, outpacing the 5.1% growth forecast for the Consumer Durables industry in the US. However, Viomi Technology’s shares are down 8.8% from the previous week, reflecting some investor concerns about this growth projection and other factors such as increased competition and rising costs of production materials.

When it comes to investing in Viomi Technology or any other company, it’s important to be aware of potential risks that could impact your investment decisions. Two warning signs that investors should keep an eye on include regulatory risks related to product safety and data privacy regulations in China, as well as competitive risks related to established players in the market such as Haier Smart Home Technology Co., Ltd., Xiaomi Corporation Limited, and Tuyao Smart Home Technology Co., Ltd., among others.

It’s worth noting that this article is based on historical data and analyst forecasts for Viomi Technology’s performance over time, but does not take into account recent company news or qualitative information that may affect future performance. As always, it’s crucial to do your own research before making any investment decisions based on this information provided here or elsewhere online or offline.

If you have any feedback or concerns about this content or need further clarification about your investment options with Viomi Technology or any other company mentioned herein

Leave a Reply