Disappointing Year for Viomi Technology: Revenue Declines by 23% While Net Loss Improves Slightly

By Eleanor Harrison Mar27,2024
Viomi Technology’s Full Year 2023 Earnings Fall Below Expectations

Viomi Technology (NASDAQ: VIOT) released its financial results for the fiscal year ending 2023, showing a decline in revenue and a narrowed net loss compared to the previous 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.

It’s important to be aware of potential risks when investing in any company, including Viomi Technology. There are two warning signs that investors should be aware of before making any investment decisions. If you have any feedback or concerns about this article or want more information on Viomi Technology or investing in general, you can reach out to Simply Wall St directly or email our editorial team at [email protected]. This article is based on historical data and analyst forecasts and should not be considered financial advice; it aims to provide unbiased analysis driven by fundamental data but may not include up-to-date company announcements or qualitative information.

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

Investors should note that investing always involves risks and there is no guarantee of profits or returns on investment.

Viomi Technology’s full year results were disappointing as revenue declined by 23% while net loss improved by only

By Eleanor Harrison

As a content writer at newseasoning.com, I infuse flavor into words, crafting compelling stories that captivate and inform our audience. With a keen eye for detail and a passion for creativity, I strive to create content that not only engages but also inspires. Whether I'm concocting a savory blog post or whipping up a spicy product description, I pour my heart and soul into every piece I write. Join me on this flavorful journey as we explore the tantalizing world of content creation together.

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