Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- RADA Electronic Industries Ltd (NASDAQ:RADA) reported a first-quarter revenue decline of 11% year-over-year to $22.5 million, missing the consensus of $30.79 million.
- EPS loss was $(0.01), below the consensus of $0.12.
- Gross profit declined by 26.3% to $7.34 million, and margin contracted by 690 bps to 32.6%.
- RADA recorded an operating loss of $(0.86) million for the quarter, compared to a profit of $3.55 million in 1Q21.
- Adjusted EBITDA was $1.28 million (-73.3% Y/Y), and margin fell by around 1,330 bps to 5.7%.
- As of March 31, 2022, RADA had cash and equivalents of $65.9 million. Inventory levels reached $59.3 million.
- The company stated that the financial results were significantly impacted by the over 5-month U.S. budget delay and the Continuing Resolution with respect to government appropriations to federal agencies, which ended March 11, 2022.
- Q1 Bookings were ~$29 million, representing over 22% Y/Y growth in new business.
- RADA reiterates FY22 revenue guidance of over $140 million.
- “The ending of the CR and the strong bookings already received in Q1, should provide for a strong recovery in the upcoming quarters, and we expect to maintain our normal margin profile and cash generation for 2022,” commented CEO Dov Sella.
- Price Action: RADA shares traded lower by 14.7% at $11.70 on the last check Tuesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!