- MICT Inc MICT reported second-quarter revenue growth of 38% Q/Q to $12.3 million, missing the analyst estimate of $13.72 million.
- Gross profit declined to $0.67 million versus $1.9 million in the prior quarter, and the reduction was due to incentives used to attract a critical mass of new brokers/customers.
- The operating loss expanded to $(16.6) million from $(4.8) million in the prior quarter. Loss per share was $(0.16) for the quarter.
- As of June 30, 2021, the cash position was ~$114 million.
- The company's Investment in Micronet was reduced to ~37%, eliminating the requirement to consolidate its results.
- MICT stock trading app Magpie has reached the final stages of testing and is anticipated to launch in mid-September.
- Price Action: MICT shares are trading lower by 6.78% at $1.85 on the last check on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In:
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
