2023-03-08 16:16:43 ET
- ElectroCore press release ( NASDAQ: ECOR ): Q4 GAAP EPS of -$1.22 misses by $0.10 .
- Revenue of $2.56M (+71.8% Y/Y) beats by $0.17M .
- Launched two new brands: TAC-STIM™ under the Air Force BOOST program and Truvaga™ wellness product for stress, anxiety, and sleep
- Announced distribution agreement with Joerns Healthcare.
- Outlook:
- The Company expects net revenue for the full year 2023 to be in the range of $14.0 - $15.0 million. The Company believes that its legacy headache channels will again grow by more than 50% to at least $12 million in net revenue for the full year and that net revenue from new products in its Truvaga and TAC-STIM brands could be more than $2 million for the full year.
- The Company expects net cash usage in the first quarter 2023 to increase as compared to the fourth quarter of 2022, largely due to seasonal factors affecting working capital and increased investment in product evolution.
For further details see:
ElectroCore GAAP EPS of -$1.22 misses by $0.10, revenue of $2.56M beats by $0.17M