Viomi Technology’s Full Year 2023 Earnings Fall Short of Expectations

Viomi Technology (NASDAQ: VIOT) recently released its full-year 2023 financial results, showing a revenue of CN¥2.49 billion, a 23% decrease from the previous year. The net loss was CN¥84.7 million, which narrowed by 69% from the prior year. Despite this, the loss per share was CN¥1.23, an improvement from CN¥3.97 in FY 2022.

However, analysts were disappointed by the revenue and earnings figures, with revenue falling short by 12% and EPS missing estimates by 140%. Looking ahead, Viomi Technology forecasts a 21% annual growth in revenue over the next two years, compared to a 5.1% industry growth forecast for Consumer Durables in the US.

Despite this positive outlook, Viomi Technology’s shares have been struggling in recent months, dropping by 8.8% in just one week due to poor performance in the American Consumer Durables industry. Investors should be aware of potential risks associated with investing in this company, including two warning signs that they should keep an eye on moving forward.

If you have any concerns or feedback about this article, please don’t hesitate to contact us directly or email us your thoughts. This article is produced by Simply Wall St and is based on historical data and analyst predictions using an unbiased methodology. It is not financial advice and should not be used as such before making any investment decisions based on your own specific objectives and financial situation.

By Samantha Johnson

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