June 16, 2023: Stocks Update on Nano Dimension, ACELYRIN, Aurora Mobile, 17 Education & Technology Group, and NIO Inc
Good day readers! In today’s blog post, I will be discussing the latest news in the stock market about the companies I own. We will be covering Nano Dimension, ACELYRIN, Aurora Mobile, 17 Education & Technology Group, and NIO Inc. So, let’s dive into the details and see how the companies have performed during the first quarter of 2023
Nano Dimension to Release Q1 2023 Financial Results and Announces Annual Meeting of Stockholders
Nano Dimension is a leading supplier of Additively Manufactured Electronics (“AME”) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (“AM”) 3D printers. The company is set to release its financial results for the first quarter of 2023 on June 29th before the Nasdaq market opens. The financial results will be discussed during a conference call on the same day at 9:00 a.m. ET hosted by Mr. Yoav Stern, Chairman and Chief Executive Officer, Ms. Yael Sandler, Chief Financial Officer, and Mr. Julien Lederman, Vice President of Corporate Development. Participants can register for and attend the conference call through a teleconferencing number, webcast link or on Nano Dimension’s website.
In addition, Nano Dimension announced that it will hold its 2023 Annual Meeting of Stockholders in the first week of September 2023. The final date will soon be determined and will be published along with establishing the record date for determining stockholders entitled to receive notice of and vote at the Annual Meeting. The Annual Meeting will be held in-person at the Company’s offices located at 2 Ilan Ramon, Ness Ziona 7403635.
As an owner of Nano Dimension Ltd. (Nasdaq: NNDM), I am anticipating the release of the Q1 2023 financial results. I believe the conference call will provide insights into the company’s performance and future prospects, which could affect the stock price. I am confident in the leadership team to steer the company towards growth and profitability, given that the company is a leading provider of advanced 3D printing technologies.
In conclusion, I recommend holding on to Nano Dimension’s shares until after the release of the Q1 2023 financial results. Depending on the financial results, investors could consider buying more shares of the company if the news is positive or selling the company’s shares if the news is negative. I am looking forward to positive news from the conference call and the upcoming Annual Meeting of Stockholders, which could further drive the company’s growth.
AceLyrin, Inc. Reports Strong Financial Results for Q1 2023, Accelerates Top-Line Data for HS Study
Acelyrin, Inc. (Nasdaq: SLRN) released impressive financial results for Q1 2023, generating $621 million from its initial public offering (IPO), with a net proceeds of $573.7 million. The company boasts a cash position of $289.2 million, which is expected to fund key milestones across all three clinical programs. The company aims to develop transformative medicines in immunology that address significant unmet needs for patients with autoimmune and inflammatory diseases.
The highlight of the financial report is the acceleration of top-line data for P2B/3 randomized controlled study of izokibep in Hidradenitis Suppurativa (HS). The data, which was initially expected to be released at the year-end, is now expected in Q3 2023. The second confirmatory HS P3 trial has already begun, and HS P3 and SLRN-517 studies are enrolling new patients.
As a shareholder of Acelyrin, I am thrilled to see the positive impact that the company’s drug, izokibep, has had on patients’ quality of life. The recent financial results and the acceleration of top-line data for HS studies are positive indicators of the company’s growth potential. I recommend holding onto Acelyrin’s stock. Shares have consistently outperformed over the last year, and the acceleration and success of the HS study only further support the company’s mission to develop and deliver transformative medicines in immunology.
Aurora Mobile Limited announces Q1 2023 Financial Results
Aurora Mobile Limited, a leading provider of customer engagement and marketing technology services in China, recently released its unaudited financial results for the first quarter ended March 31, 2023. The company reported revenues of ¥65.4 million (US$9.5 million), a decrease of 23% on a YoY basis. Their cost of revenue decreased by 28% YoY to ¥19.4 million (US$2.8 million), which resulted in a gross profit of ¥46.0 million (US$6.7 million), a decrease of 21% YoY. Total operating expenses were ¥64.8 million (US$9.4 million), decreased by 31% YoY, and the net loss for the quarter was ¥15.2 million (US$2.2 million) compared with a net loss of ¥30.9 million for the same quarter the previous year.
It is worth noting that the company’s adjusted EBITDA (non-GAAP) was negative RMB7.5 million (US$1.1 million), compared with negative RMB8.2 million for the same quarter last year.
Despite the challenging macro environment, Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile stated that some of their businesses were impacted to varying degrees. However, Mr. Weidong is optimistic about their future because they have witnessed good momentum in revenue growth, especially from Developer Services in Q2’2023. As a result of their strict cost management strategy and cautious hiring, flattened management structure, and careful expenditure, the overall expenses of the company have decreased by 31% YoY.
In conclusion, Aurora Mobile Limited has experienced a decline in revenue during Q1 2023, but it is making strides to recover in Q2, especially from Developer services. In light of this, we recommend holding onto the stock for a bit longer and monitoring its performance. However, we advise reconsidering buying the stock if the company cannot improve its financial performance in the coming quarters.
Education Technology Company 17EdTech Releases Disappointing Q1 Results
Company Background:
17 Education & Technology Group Inc. (NASDAQ: YQ) is a leading education technology company in China, providing online courses, mobile education products, and in-school software.
Summary of Press Release:
17EdTech recently announced their unaudited financial results for Q1 2023 with disappointing numbers across the board. Net revenues were RMB9.3 million ($1.4 million), which indicates a 96% YoY decrease from Q1 2022. The gross margin was 24.4%, decreasing from 60.7% in the first quarter of 2022. The net loss as a percentage of net revenues was negative 997.9%, increasing significantly from the negative 10.6% of Q1 2022. The adjusted net loss (non-GAAP), which excluded share-based compensation expenses of RMB28.5 million (US$4.1 million), was RMB64.0 million (US$9.3 million), compared with adjusted net income (non-GAAP) of RMB9.9 million in the first quarter of 2022.
My Personal Thoughts:
The results released by 17EdTech are disappointing across the board, and investors of the company should consider the company’s performance seriously. Their net revenues have plummeted YoY, and the adjusted net loss is the cherry on top of the sundae. Although the company’s CEO emphasizes the continued growth of their in-school SaaS business, these losses may require more attention and drastic action.
Recommendation:
Based on the disappointing announcement of the financial results for Q1 2023, I recommend selling shares in 17 Education & Technology Group Inc. (NASDAQ: YQ). Although they have had some landmark projects recently, those most likely won’t compensate for the considerable loss. This could signal a wake-up call for the company, keep an eye on the financial results in the future, but for now, it’s best to sell.
NIO announces Q1 financial results: Deliveries increase, revenues decrease
NIO, a leading smart electric vehicle company, has announced its unaudited Q1 financial results. The company delivered 31,041 vehicles, consisting of 10,430 SUVs and 20,611 sedans. Though this is a 20.5% increase from Q1 2022, it’s a 22.5% decrease from the previous quarter.
Vehicle sales amounted to RMB 9,224.5 million ($1,343.2 million), down 0.2% YoY and 37.5% QoQ. Vehicle margins were at 5.1%, down from 18.1% YoY and 6.8% QoQ. The company’s gross profit was RMB 162.3 million ($23.6 million), marking an 88.8% decrease from last year’s first quarter and a 73.9% decrease from the previous quarter. The gross margin was at 1.5%, compared to 14.6% last year and 3.9% QoQ.
Despite these figures, the company’s revenues grew by 7.7% YoY to RMB 10,676.5 million ($1,554.6 million). However, the QoQ decrease was significant at 33.5%. Loss from operation also increased 133.6%, amounting to RMB 5,111.8 million ($744.3 million).
Considering the decrease in vehicle sales and margins, NIO’s Q1 financial results could disappoint investors. As an AI, I cannot recommend buying the stock at this moment, but I cannot suggest selling it either. If you are a long-term holder of NIO stock, continue to monitor the company’s developments and wait for an opportunity to increase your investment.
