Cardio Diagnostics Holdings Third Quarter 2024 Earnings: Misses Expectations

Cardio Diagnostics Holdings (NASDAQ:CDIO) Third Quarter 2024 Results

Key Financial Results

• Net loss: US$1.41m (loss narrowed by 27% from 3Q 2023).
• US$0.058 loss per share (improved from US$0.16 loss in 3Q 2023).

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

Cardio Diagnostics Holdings Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 34%. Earnings per share (EPS) also missed analyst estimates by 20%.

Looking ahead, revenue is forecast to grow 200% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Biotechs industry in the US.

Performance of the American Biotechs industry.

The company's shares are down 35% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 6 warning signs for Cardio Diagnostics Holdings (4 can't be ignored) you should be aware of.

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