BWAY - BrainsWay stock plummets 29% as Q3 loss widens revenue falls
- BrainsWay ( NASDAQ: BWAY ) stock fell ~29% on Wednesday after Q3 results missed estimates.
- Net loss and total comprehensive loss widened to -$5.04M, compared to -$1.80M in Q3 2021.
- Revenue declined -35.89% Y/Y to $5.17M.
- "While the current macroeconomic environment continues to present challenges to both our smaller customers and patients, we remain vigilant in controlling expenses," said BrainsWay President and CEO Christopher von Jako.
- Total operating expenses increased to $8.7M, compared to $7.36M in Q3 2021.
- Cash, cash equivalents and short-term deposits as of Sept. 30 were $49.6M, compared to $57.3M as of Dec. 31, 2021.
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BrainsWay stock plummets 29% as Q3 loss widens, revenue falls