- (PLX AI) - Airthings shares drop 15% after the company last night cut its guidance for the second quarter revenue.
- • Airthings now sees Q2 revenue USD 6.4-7.4 million, down from USD 8.0-9.0 million, saying the downward revision reflects significant inventory adjustments at retailers and online channels
- • The revised guidance implies a revenue decline of 10% year over year at midpoint of the range
- • As of the first quarter, the company had USD 35.6 million in cash and an EBITDA run-rate of about USD -14 million, so there is no immediate risk of the company running out of cash, analysts at SEB said
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