Collplant Biotechnologies Ltd AD (CLGN) said before open Wednesday that it lost $0.29 per share in quarter one 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 $433 thousand, beating estimates by $193 thousand.
In the same quarter a year ago, the company lost $0.32 per share on revenue of $66 thousand.
The stock is up 5.69% to $7.61 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Collplant Biotechnologies Ltd AD a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 46. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
CollPlant Biotechnologies Ltd is a regenerative and aesthetic medicine company focused on 3D bioprinting of tissues and organs and medical aesthetics. Its products are based on its rhCollagen (recombinant human collagen) produced with CollPlant's proprietary plant based genetic engineering technology. These products address indications for the diverse fields of tissue repair, aesthetics, and organ manufacturing. The company's revenues include income from business collaborators and sales of the BioInk product for the development of 3D bioprinting of organs and tissues, sales of rhCollagen for the medical aesthetics market, and sales in Europe of the products for tendinopathy and wound healing.
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Collplant Biotechnologies Ltd AD Up 5.69% To $7.61 After Earnings Meet
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