Fervo Energy Reports $31.83M Net Loss, $61K Revenue in First Public Quarter
FRVO is trading near its 52-week low of $32.392 (9.8% above the low).
Summary
Fervo Energy reported its first quarterly results as a public company, detailing a net loss of $31.83 million on just $61,000 in revenue, resulting in a diluted loss per share of $3.72. This news, an early summary of the upcoming 10-Q filing, follows yesterday's reports that already disclosed the $3.72 EPS loss. These comprehensive financials provide the first full picture of the company's cash burn and minimal early-stage revenue since its May IPO, which raised over $1.8 billion.
At the time of this announcement, FRVO was trading at $35.58 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $10.7B. The 52-week trading range was $32.39 to $42.65. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.