Masimo Corporation (MASI) NasdaqGS - NasdaqGS 174.50 +7.19 (+4.30%) WATCH GSAT TODAY!! // I have a break at 12:30 be back.
STONEY!!!! Some lady on Bloomberg just recommended buying Tootsie Roll. TR $43.82 This is a bad sign.
Massive Vol Nerdy from Morning notes--- missed it. Playing Task Us instead for a mild bump. +$1. I'm off my game... Nerdy, Inc. (NRDY) NYSE - Nasdaq 3.2050+0.6950 (+27.6892%)<--------- As of 10:47AM EST.
earn drop GSAT-- Highly complex huge imparement $174 mil charge-- lack of inventory to sell hurt. Jay Monroe, Globalstar Executive Chairman, added, "Yesterday we announced that Spain has authorized Globalstar to provide complementary terrestrial services over its mobile satellite spectrum via Band 53. This latest terrestrial authorization, our first in Europe, is an important step in the convergence of satellite and mobile terrestrial services globally." FOURTH QUARTER FINANCIAL REVIEW Total Revenue Total revenue for the fourth quarter of 2022 increased 20% from the fourth quarter of 2021 due to increases in both service revenue and revenue generated from subscriber equipment sales. Service Revenue Service revenue increased 22% in the fourth quarter of 2022 compared to the fourth quarter of 2021 due to revenue generated under our wholesale capacity services contract. Wholesale capacity service revenue increased $7.3 million quarter over quarter due to revenue earned for performance obligations under the previously disclosed Service Agreements, including work associated with the construction of new satellites, as well as Phase 1 service which commenced in November 2022. Commercial IoT service revenue increased by 14% quarter over quarter due in part to growth in our average subscriber base and higher ARPU. We continue to see steady growth in net subscriber additions, including a more than 50% increase in gross activations during the fourth quarter of 2022. This increase is particularly meaningful and a clear indicator of demand in light of the supply chain disruptions we experienced during 2022 that led to significant delays in order fulfillment. Service revenue associated with legacy services, including SPOT and Duplex, was down 7% quarter over quarter due to lower SPOT ARPU and fewer Duplex subscribers. SPOT ARPU is lower due to strengthening of the U.S. dollar, which reduces the amount of revenue that we record in dollars after bills are generated in a foreign currency, such as the euro. The decrease in SPOT ARPU was also driven by the mix of subscriber rate plans, including the continued popularity of flex plans, which generally carry lower rates than traditional prepaid unlimited plans. Consistent with our expectations, average Duplex subscribers are lower quarter over quarter resulting from continued reduction in the base as we focus on other service offerings, such as Wholesale capacity and Commercial IoT. Subscriber Equipment Sales Revenue generated from subscriber equipment sales increased 8% in the fourth quarter of 2022 compared to the fourth quarter of 2021. Despite component part shortages disrupting our ability to manufacture our most popular SPOT and Commercial IoT devices, we were able to fill many of our open sales orders during the fourth quarter. We expect to fulfill our remaining back orders in the coming weeks. Commercial IoT equipment revenue increased over 100% during the fourth quarter of 2022, as we started to deliver product to customers in meaningful quantifies for the first time in several months. The 95% increase in sales volume quarter over quarter reflects not only an accumulation of orders, but also an increase in demand across our reseller network. With production issues substantially behind us and subscriber growth continuing, we are more optimistic than ever about our future opportunities for this critical strategic pillar. SPOT equipment revenue decreased $1.5 million during the fourth quarter of 2022 resulting primarily from a lack of inventory to fulfill sales orders. Unlike Commercial IoT, we were unable to fully return to normal production levels during the fourth quarter of 2022, but expect to fill the remaining open sales orders during the first quarter of 2023. Loss from Operations Loss from operations decreased 40% to $9.3 million in the fourth quarter of 2022. This change was driven by higher revenue of $6.8 million (discussed above) offset partially by higher operating expenses of $0.6 million. Higher operating expenses reflect increases in marketing, general and administrative (MG&A) and cost of services offset by lower depreciation, amortization and accretion expense. MG&A costs were higher during the fourth quarter of 2022 due primarily to non-cash stock-based compensation designed to retain key employees. Cost of services was higher due primarily to higher lease and related occupancy costs associated with new gateway sites as well as licensing and professional fees, which have been elevated to support the launch of a new ERP system and other information technology security and maintenance. Net Loss Net loss was $5.3 million for the fourth quarter of 2022 compared to $24.0 million for the fourth quarter of 2021. In addition to the drivers of the decrease in loss from operations, the improvement in net loss was also due to fluctuations in foreign currency exchange rates and lower interest expense. Adjusted EBITDA Adjusted EBITDA increased 48% to $18.3 million for the fourth quarter of 2022 from $12.4 million for the same period in 2021. Higher revenue of $6.5 million was offset partially by a $0.6 million increase in operating expenses (both excluding adjustments for non-cash or non-recurring items). ANNUAL FINANCIAL REVIEW Total Revenue During the twelve months ended December 31, 2022, total revenue increased $24.2 million, or 19%, to $148.5 million from $124.3 million in 2021. The increase in total revenue was driven by higher service revenue of $25.6 million offset partially by a decrease in revenue generated from subscriber equipment sales of $1.4 million. Service Revenue The improvement in service revenue during 2022 was due almost entirely to higher wholesale capacity services, which increased $26.0 million year over year due to deliverables performed under the Service Agreements. Higher Commercial IoT service revenue of $1.6 million, or 9%, was due to increases in average subscribers and ARPU. Offsetting these increases were decreases in both Duplex and SPOT. The continued decrease in Duplex service revenue is expected as we focus our efforts on other service offerings. The decrease in SPOT service revenue was due to lower ARPU, driven by both rate plan mix (discussed above) as well as unfavorable fluctuations in exchange rates; higher average subscribers partially offset the ARPU variance. Subscriber Equipment Sales As previously discussed, disruptions in supply chain from component part shortages negatively impacted our ability to fulfill equipment orders during most of 2022. During the fourth quarter of 2022, we were able to fulfill many of our Commercial IoT back orders and, to a lesser extent, certain of our SPOT back orders. Despite these supply chain disruptions, Commercial IoT equipment revenue increased 41% year over year due to higher demand of core IoT devices and modules. Loss from Operations Loss from operations was $221.0 million during 2022 compared to $65.5 million during 2021 due predominantly to a non-cash charge of $174.5 million following the abandonment of our second-generation Duplex assets during the third quarter of 2022. Upon the announcement in September 2022, our strategy associated with these assets permanently shifted and we determined that we would no longer support second-generation Duplex services because the revenue generated from this type of subscribers did not justify the capacity required to support these services. Our first-generation Duplex services, including to handsets, will continue to be offered within the retained capacity for our direct services. Excluding the non-cash impairments, loss from operations would have improved year over year due to an increase in revenue (discussed above) offset partially by an increase in operating expenses driven primarily by higher cost of services and MG&A.
I know I said $2 here and $1.70 in a different post but Time To Exit the daily gains are getting smaller. LHDX Lucira Health, Inc. 46 cents---> $1.10 Holding time 3 days $1.100.17 (+18.28%)11:02 AM 03/01/23 NASDAQ | $USD | Realtime
TASK is actually a halfway decent stock. I don't like the small float (27M) with 70M more on the shelf however. Everyone is chasing energy this week, you're not alone Stoney. You're falling into the brain-washing. XLE $85.75 a few minutes ago. I don't buy it Short oil Stoney!!!
See the thing is Stoney, all the money is leaving the cyclicals and tech and it needs somewhere to go, so energy is the logical place. But they're wrong. As I wrote 3 months ago, Ignore January... February will be lower... which it was, and 2023 will be much lower. Money will be lost across all sectors. You're 4200 call yesterday is silly. That's the top of the range, It might hit, it might not... but we are going lower across all sectors. Inflation is hot... the Fed has a long way to go. Watch oil collapse over the next week. SPX 3944 WTI $76.77
Putin is in a hurt-locker. I suspect they are selling China oil under market value to raise funds. China being ever the opportunistic player they are, can demand a price lower than they would have to pay elsewhere. "We'll buy all you have, but we're not paying market price." So the whole thesis about China's economy rebounding and gobbling up oil may be true... but the oil is coming from Russia. Watch and learn Stoney.