Normally a winning earnings report is all a stock needs to send it rattling upward. Healthcare stock Telesis Bio (NASDAQ:TBIO) proved no exception here, as investors sent its shares up over 14% at the time of writing after the earnings report came out ahead on every front.
Earnings per share were -$0.28, which beat expectations of -$0.41 per share. Telesis also brought in $9.47 million in revenue. That beat analyst projections calling for $7.2 million readily enough, but it also represented a 207.5% increase in year-over-year comparisons. Even Telesis’ revenue projections turned out to be winners.
Telesis looks to bring in over $45 million in revenue in 2023 and looks for a gross margin between 55% and 59%. Though Telesis itself does have around $20 million of debt outstanding, it also has $43.8 million in cash and equivalents on hand, more than enough to completely cover the outstanding debt. Telesis Bio’s president and CEO, Todd R. Nelson, noted that operating expenses should “stabilize” soon. Further, Telesis is actively working toward “sustainable growth” and further product launches to help better use its recently-released BioXP Select mRNA Synthesis kit.
A look at the last five days in trading for Telesis Bio shows that the gains came at a great time. Telesis Bio shares were trending slightly downward over that time. However, starting this morning, shares started a climb upward that saw share prices gain nearly 50% at one point. The stock gave back much of those gains, but it’s still ahead of where it was even this time yesterday.
