CLVR - Clever Leaves GAAP EPS of -$0.09 beats by $0.06 revenue of $4M beats by $0.4M
2023-05-11 16:56:13 ET
- Clever Leaves press release ( NASDAQ: CLVR ): Q1 GAAP EPS of -$0.09 beats by $0.06 .
- Revenue of $4M (-23.4% Y/Y) beats by $0.4M .
- Reiterated 2023 Outlook
- Based on current commercial traction within our core markets, along with the benefit of its sustained cost improvement initiatives, Clever Leaves is reaffirming its full year 2023 revenue outlook to a range of between $19 million and $22 million vs $20.00M consensus, with an adjusted gross margin between 58% and 63%. The Company also continues to expect its 2023 adjusted EBITDA to range between $(13.6) million and $(10.6) million, which represents a substantial improvement compared with last year’s AEBITDA loss of $(23.4) million. Additionally, Clever Leaves expects approximately $0.5 million to $0.7 million of annual capital expenditures in 2023, representing an estimated 50% reduction compared to 2022.
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Clever Leaves GAAP EPS of -$0.09 beats by $0.06, revenue of $4M beats by $0.4M