Cepton Inc Up 1.06% To $3.82 After Earnings Beat

Friday, November 10, 2023 - Cepton Inc (CPTN) reported upside earnings and downside revenues.

Cepton Inc's earnings came in at an EPS loss of $0.58 per share, 37.00% higher than estimates for an EPS loss of $0.92 per share. The firm's loss per share narrowed by 28% since reporting a loss of $0.8 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $5.1 million. The Technology company missed on those expectations for its third quarter with revenue of $3.8 million, a negative revenue surprise of $1.3 million (25%). The firm managed 112% growth year-over-year due to Cepton Inc reporting quarterly revenue of $1.8 million in its year-ago quarter. Cepton Inc achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is up 1.06% to $3.82 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

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

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

Cepton Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 75, putting Cepton Inc in the top 25% of stocks. The firm set a 52-week low on April 27, 2023 at $3.2 and set a 52-week high on November 11, 2022 at $19.

Cepton Inc provides lidar-based solutions for a range of markets such as automotive, smart cities, smart spaces and smart industrial applications. The company's patented MMT-based lidar technology enables reliable, scalable and cost-effective solutions that deliver long range, high resolution 3D perception for smart applications.