A2Z Cust2Mate Q2 Revenue Jumps on Smart Cart Deliveries; Guides $25M H2
AZ sits 30% above its 52-week low of $4.97.
Summary
Q2 revenue hit $5.9 million, up sharply year-over-year on increased smart cart deliveries, including a new supermarket customer. Gross profit improved to $2.51 million as manufacturing scaled, and net loss narrowed to $7.34 million. Management guided to $25 million in H2 smart cart revenue, weighted to Q4, and targets 10,000 cart deliveries by year-end. Cost initiatives are expected to cut annual operating expenses by about $7 million. This follows the follow-on order for 4,000 carts from Sapir Group announced yesterday, reinforcing the ramp. The stock trades at $6.47 with a median analyst target of $22.50.
At the time of this announcement, AZ was trading at $6.47 on NASDAQ in the Technology sector, with a market capitalization of approximately $291.6M. The 52-week trading range was $4.97 to $10.22. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.