NeuroOne Medical misses earnings by $0.10, revenue below estimates
Medical device maker NeuroOne Medical reported a quarterly loss per share of $0.10, missing analyst expectations, while revenue declined year-over-year.
NeuroOne Medical Technologies reported a quarterly adjusted loss of $0.10 per share on Wednesday, falling short of the $0.00 estimate from analysts polled by Refinitiv. Revenue totaled $1.1 million for the period, down from $1.3 million in the same quarter last year and below the $1.4 million forecast.
The company, which develops and markets medical devices for neurological applications, attributed the revenue shortfall to lower procedure volumes and supply chain constraints. NeuroOne did not provide updated guidance for the full year, citing ongoing market uncertainties.
Shares of NeuroOne Medical fell 5% in after-hours trading following the release of the results. The stock has declined approximately 12% over the past month amid broader sector volatility and investor caution toward small-cap medical device companies.
Analysts at Lake Street Capital Markets maintained a neutral rating on the stock with a price target of $2.50, citing execution risks in the company’s commercialization efforts. NeuroOne Medical has not yet scheduled an earnings call to discuss the results in detail.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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