Eargo Inc Down 11.88% To $4.23 After Earnings Miss

Eargo Inc (EAR) said after close Thursday that it lost $4.18 per share in quarter four 2022. 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 $12.9 million, beating estimates by $4.9 million.

In the same quarter a year ago, the company lost $23.2 per share on revenue of $10.1 million.

The stock is down 11.88% to $4.23 after the report.

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

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

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

Prior to the report, InvestorsObserver gave the stock an overall score of 13. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Eargo Inc is a medical device company, focused on improving the quality of life of people with hearing loss. The company offers hearing aids, professional support services, and other insurance-related services. The product portfolio includes Eargo Neo HiFi, Eargo Neo, Eargo Max, and related accessories.