22.6 C
New York
Saturday, May 28, 2022

LumiraDx Limited (LMDX) Stock Plunged 26.55% Today, Here’s Why

LumiraDx Limited (LMDX) stock plummeted 26.55% in the current-market trading session at the price of $5.70 after announcing its earnings report for the fourth quarter and year 2021.


Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .

Sponsored


LumiraDx, founded in 2014, is a next-generation care diagnostics firm that transforms the community healthcare system. The company has a novel diagnostic platform that delivers a wide range of tests with a lab-equivalent performance at the care center.

LMDX Q4 2021 Financial Summary

On 10th March 2022, LMDX published its operational and financial results for the fourth quarter and year ended 31st December 2021.

Revenues totaled US$118.3M for Q4 of 2021 compared to US$112.3M for Q4 of last year. The company reported an improvement in gross margin to 46.1 percent during the quarter. Research and development expenses totaled US$33.8M for Q4 of 2021, representing a 22 percent gain over Q4 of 2020. The company reported a net loss of US$37.2M, or per diluted share of US$0.15, for Q4 of 2021.

LMDX Year 2021 Highlights

For the year ended 31st December 2021, LMDX calculated revenue of US$421.4M. Revenues totaled US$139.2M for the prior year. The company has a gross margin of 36 percent for 2021 compared to 38 percent last year.

R&D costs totaled US$130.2M for the year 2021, a growth of 21 percent compared to 2020. LMDX has a net loss of US$100.8M, or per diluted share of US$0.62, for 2021. On 31st December 2021, the company has a senior debt of US$300M and a cash balance of US$132.1M.

LMDX Pricing of US$56.5M Offering

Earlier on 1st March 2022, LMDX announced entering a subscription deal with several investors. Under the agreement, LumiraDx will sell investors the notes offering of 6% convertible senior subordinated notes worth US$56.5M in principal amount.

LMDX’s cash balance, including gross proceeds from the offering, totaled US$191.5M on 31st December 2021. The sale and purchase of the notes were on 3rd March 2022 and are subject to customary closing conditions.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles