View Clocks 74% Revenue Growth In Q1; Reaffirms FY22 Forecast

View, Inc VIEW reported first-quarter FY22 revenue growth of 74% year-on-year to $17 million, beating the consensus of $15.1 million.
The continued traction of the newly introduced Smart Building Platform offering and the growth of Smart Building Technologies products drove the increase.
EPS loss of $(0.38) missed the consensus loss of $(0.24).
View held $200.5 million in cash and equivalents as of March 31, 2022.
Outlook: View reiterated FY22 revenues of $100 million - $110 million (consensus of $108.2 million), driven by volume growth, strong ASPs, and increased contribution from its Smart Building Platform and Smart Building Technologies products.
"We are pleased to announce our Q1 2022 results today, which show continued momentum in driving industry adoption of smart glass. The first quarter represented more than 70% year-over-year revenue growth and puts us on target to achieve our expected full-year revenue above $100 million for 2022," said Dr. Rao Mulpuri, CEO.
Price Action: VIEW shares traded lower by 0.26% at $1.88 on the last check Thursday.