Entrada Therapeutics Second Quarter 2024 Earnings: Beats Expectations

Entrada Therapeutics (NASDAQ:TRDA) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$94.7m (up 421% from 2Q 2023).
• Net income: US$55.0m (up from US$25.9m loss in 2Q 2023).
• Profit margin: 58% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue.
• EPS: US$1.61 (up from US$0.78 loss in 2Q 2023).

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

Entrada Therapeutics Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 160%. Earnings per share (EPS) also surpassed analyst estimates significantly.

Looking ahead, revenue is expected to decline by 77% p.a. on average during the next 3 years, while revenues in the Biotechs industry in the US are expected to grow by 23%.

Performance of the American Biotechs industry.

The company's shares are up 15% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Entrada Therapeutics has 2 warning signs (and 1 which is concerning) we think you should know about.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.