iRay Technology Third Quarter 2024 Earnings: Misses Expectations

iRay Technology (SHSE:688301) Third Quarter 2024 Results

Key Financial Results

• Revenue: CN¥330.0m (down 25% from 3Q 2023).
• Net income: CN¥82.7m (down 24% from 3Q 2023).
• Profit margin: 25% (in line with 3Q 2023).
• EPS: CN¥0.58 (down from CN¥0.76 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

iRay Technology Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 31%. Earnings per share (EPS) also missed analyst estimates by 51%.

Looking ahead, revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Medical Equipment industry in China.

Performance of the Chinese Medical Equipment industry.

The company's shares are up 1.8% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 3 warning signs for iRay Technology you should be aware of, and 1 of them is concerning.

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