Ceribell down as bigger-than-expected loss overshadows revenue beat
CBLL•Ceribell reported a third-quarter loss of 55 cents per share, wider than analysts’ 51-cent estimate, while revenue of $29.3 million topped estimates. The company raised the low end of its full-year revenue outlook to $115 million from $114 million.
1. Quarterly results
Ceribell shares fell 15.8% in premarket trading after the medical device maker reported a third-quarter loss of 55 cents per share, compared with analysts’ expectations for a loss of 51 cents. Revenue was $29.3 million, slightly above the $29.16 million estimate.
2. Revenue outlook raised
The company raised the lower end of its full-year revenue outlook to $115 million, from $114 million, while keeping the upper end at $117 million. Higher operating expenses, including commercialization and research and development investments, stock-based compensation and intellectual property-related legal costs, contributed to the larger quarterly loss.
3. Analyst ratings
All eight brokerages covering the stock rated it “buy” or higher, with a median price target of $31. Ceribell shares had risen 28.9% year to date through the previous close, compared with a 9.2% gain in the Nasdaq Composite.
