Femasys Inc Reports Second Quarter 2024 Financial Results

authorIntellectia.AI1970-01-01
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FEMY.O
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Femasys Inc. Reports Second Quarter 2024 Financial Results

Overview

Femasys Inc. has reported its financial results for the second quarter of 2024, which ended on June 30, 2024.

Key Financial Metrics

Metric Q2 2024 Q2 2023 YoY Change Consensus Estimate
Total Revenue $221,484 $320,514 -30.9% $780,000
Earnings per Share (EPS) -$0.20 -$0.18 -11.1% -$0.17

Financial Interpretation

The company's financial performance for the second quarter of 2024 shows a significant year-over-year decrease in total revenue by 30.9%, falling short of the Wall Street consensus estimate of $780,000. Earnings per share (EPS) also declined, recording -$0.20 compared to -$0.18 in Q2 2023, and missing the consensus estimate of -$0.17. This drop suggests a declining financial health and challenges in the company's key revenue streams.

Revenue Performance by Segment

Segment Q2 2024 Revenue % to Total Revenue Previous Guidance
Total Sales $221,484 100% Not Provided

Segment Performance Interpretation

Total sales decreased by $99,030 or 30.9% compared to the same period last year, primarily due to the timing of international sales. The consistency in average selling prices did not offset the 41.7% decrease in units sold. This decline reflects significant challenges in demand or distribution that need to be addressed.

Dividends or Share Repo Program

No dividends have been declared or paid as of June 30, 2024.

Forward Guidance

The company has not provided a specific forward guidance. However, based on current operations, Femasys anticipates needing additional financing to fund ongoing operations.

Stock Price Movement

Following the earnings release, the stock price of Femasys Inc. experienced an 18% decline.

In summary, Femasys Inc.’s financial results for Q2 2024 reveal a challenging period marked by notable declines in revenue and earnings per share, indicating operational difficulties and missed market expectations.

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