- Loop Media Inc (NYSE LPTV) today provided Q3 FY23 guidance. The company expects Q3 revenue of $5.4 million-$5.6 million (versus the consensus estimate of $8.3 million) and an operating loss of $(7.6) million-$(7.9) million.
- The company projects a planned reduction in underlying SG&A expenses (which excludes stock-based compensation and amortization and depreciation) by around 20% vs. the quarter ending March 31, 2023, which is expected to improve margins.
- LPTV expects a gross profit margin of around 30%-33% for the quarter.
- The company projects continued industry and macro headwinds in digital advertising spending in the quarter on potential recession.
- Last month, the company reported Q2 revenues of $5.4 million which missed the consensus of $7.7 million and the EPS loss of $(0.17) was worse than the consensus of $(0.14).
- As of March 31, 2023, cash and cash equivalents stood at $4.7 million.
- Price Action: LPTV shares are trading lower by 4.01% at $3.35 premarket on the last check Friday.
AXIL Signs Agreement With Beretta Hellas LTD To Distribute AXIL Hearing Protection And Enhancement Products In Greece
AXIL Brands, Inc. ("AXIL," "we," "us," "our," or the "Company") (NYSE:AXIL), an emerging global consumer products company for AXIL® hearing protection and enhancement products and Reviv3® hair and skin care
