Bm Technologies Inc Down 5.77% To $2.94 After Earnings Miss

Bm Technologies Inc (BMTX) said after close Monday that it lost $0.36 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $14.7 million, beating estimates by $971 thousand.

In the same quarter a year ago, the company lost $0.07 per share on revenue of $19.9 million.

The stock is down 5.77% to $2.94 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Bm Technologies Inc has performed a little above average during the past few months. Before the report, Bm Technologies Inc received a Long-Term Technical Rank by InvestorsObserver of 57, putting it in the top half of stocks. The firm was recently trading at a 52-week low of $1.41 on September 13, 2023 and set a 52-week high on December 23, 2022 at $6.13.

BM Technologies Inc provides digital banking and disbursement services to consumers and students nationwide through a full service fintech banking platform, accessible to customers anywhere and anytime through digital channels. It facilitates deposits and banking services between a customer and its Partner Bank, Customers Bank, which is a related party and is a Federal Deposit Insurance Corporation (FDIC) insured bank. Its revenue sources include interchange and card revenue, servicing fees from BMTX's Partner Bank, account fees, and university fees.