VIEWW - View reports mixed Q2 earnings; reaffirms FY23 outlook

2023-08-11 01:33:53 ET

• View press release ( NASDAQ: VIEW ): Q2 GAAP EPS of -$14.11 beats by $0.89 .
• Revenue of $28.03M (+72.0% Y/Y) misses by $14.47M .
• • Non-GAAP Adj. EBITDA improved from ($61 million) in Q2’22 to ($31 million) in Q2’23.
• Cash Burn Reduction: Cash used in operations improved from ($82 million) in Q2’22 to ($47 million) in Q2’23.
• Outlook and Key Announcements:
  • Reaffirming 2023 Guidance and Revenue Growth: Management reaffirms full year 2023 revenue guidance of $125 million to $150 million vs. consensus of $138.80M, which, at the mid-point, implies 36% year-over-year revenue growth.
  • Forecasts to Reach Gross Margin Positive in Q3’23: Management expects to achieve gross margin positive in Q3’23, a key milestone on the Company’s path to profitability.

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