Codex DNA Inc. Down 8.98% To $1.52 After Earnings Beat

Wednesday, November 9, 2022 - Codex DNA Inc. (DNAY) reported upside earnings and revenues today.

Analyst expectations for Codex DNA Inc. earnings per share (EPS) were at a loss of $0.48 per share, with the company surpassing those estimates with a reported EPS loss of $0.42 per share, leading to a positive surprise of $0.06 per share (13%). Codex DNA Inc.'s earnings were down 24% year-over-year as the firm reported an EPS loss of $0.34 per share in its year-ago quarter. The negative annual growth shows the Healthcare company isn't performing well amid current economic conditions.

Revenues were upbeat at $6.7 million. That is an increase of 139.59% in revenues from the year-ago report and is 25.94% higher than consensus estimates set at $5.3 million.

The stock is down 8.98% to $1.52 after the report.

Codex DNA Inc.'s revenue expanded at a faster pace than earnings, signaling a decline in profit margins.

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

Trading in the five days leading up to the report earned Codex DNA Inc. a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 30. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Codex DNA Inc is a synthetic biology company focused on enabling researchers to rapidly, accurately, and reproducibly build or write high-quality synthetic DNA and mRNA that is ready to use in many downstream synthetic biology-enabled markets. It manufactures and sells laboratory equipment, specifically synthetic biology instruments, reagents, and associated products and related services, primarily to pharmaceutical and academic laboratories worldwide.