Midsummer Full Year 2023 Earnings: Misses Expectations

Midsummer (STO:MIDS) Full Year 2023 Results

Key Financial Results

• Revenue: kr86.0m (up 17% from FY 2022).
• Net loss: kr222.2m (loss widened by 153% from FY 2022).
• kr2.15 loss per share (further deteriorated from kr1.30 loss in FY 2022).

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

Midsummer Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 23%. Earnings per share (EPS) also missed analyst estimates by 14%.

Looking ahead, revenue is forecast to grow 47% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Semiconductor industry in Europe.

Performance of the market in Sweden.

The company's shares are up 2.2% from a week ago.

Risk Analysis

You should learn about the 6 warning signs we've spotted with Midsummer (including 2 which can't be ignored).

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.