Viomi Technology’s Financial Report for 2023: Revenue Decline, Improved Earnings, and Investor Concerns

Viomi Technology’s Full Year 2023 Earnings Fall Below Expectations

Viomi Technology (NASDAQ: VIOT) released its full-year financial report for 2023, showing a decline in revenue and a narrowed net loss compared to the previous fiscal year. The company’s revenue was CN¥2.49 billion, which is 23% lower than FY 2022, while the net loss was CN¥84.7 million, representing a 69% improvement from the previous year. Additionally, 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, Viomi Technology forecasts an average annual revenue growth of 21% over the next two years, which outpaces 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 due to investor concerns about future performance and risks involved with investing in this company.

It’s important to be aware of potential risks when making investment decisions. Viomi Technology has been flagged with two warning signs that investors should be aware of before investing in this company. If you have any feedback or concerns about this content or simply want more information on Viomi Technology and its financial performance, you can reach out to Simply Wall St directly or email our editorial team at [email address]. It’s worth noting that this article is based on historical data and analyst forecasts only and should not be considered financial advice.

At Simply Wall St, we strive to provide unbiased analysis driven by fundamental data but may not include all qualitative information about a company’s performance or latest developments that could affect its stock price.

Simply Wall St does not hold positions in any mentioned stocks.

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