Full year 2022 earnings: EPS misses analyst expectations
Full year 2022 results: EPS: US$1.97 (down from US$3.61 in FY 2021). Revenue: US$942.9m (up 55% from FY 2021). Net income: US$53.1m (down 41% from FY 2021). Profit margin: 5.6% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.0%. Over the next year, revenue is forecast to grow 52%, compared to a 57% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.