ISUN - iSun beats Q4 top and bottom line estimates; initiates FY23 outlook
2023-03-30 08:05:32 ET
- iSun press release ( NASDAQ: ISUN ): Q4 GAAP EPS of -$0.12 beats by $0.19 .
- Revenue of $25.9M (-4.1% Y/Y) beats by $5.3M .
- Gross margin for the quarter was 21.0%, up 30 basis points from 20.7% in the same period in 2021.
- Adjusted EBITDA for the fourth quarter of 2022 was $0.3 million or $0.02 per share, compared to $0.9 million or $0.14 per share in the same period in 2021.
- Total backlog was $164.2 million as of December 31, 2022.
- Outlook: The company to produce total revenue of $95-100 million vs. consensus of $97.40M for the full year 2023, representing a 24-31% increase over total revenues of $76.5 million in 2022. iSun also anticipates continued gross margin expansion and adjusted EBITDA profitability by the end of 2023.
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iSun beats Q4 top and bottom line estimates; initiates FY23 outlook